1-3 Upper James Street

JLL as selling agents are pleased to present Soho 1-3 Upper James Street, an exceptional investment opportunity situated in the heart of Soho, London.

This asset offers a unique mixed-use investment with strategic advantage, featuring prime office and restaurant accommodations moments away from Golden Square and iconic streets such as Carnaby and Regent. The property's proximity to the new Elizabeth Line stations at Tottenham Court Road and Bond Street—less than 500 meters—enhances its connectivity and appeal.

The property encompasses 26,285 sq ft, distributed over lower ground, ground, and five upper floors, with a prominent dual frontage onto Beak Street and Upper James Street. Offices are single-let to Phonographic Performance Limited through 2030, providing stability with a rent of £1,300,955 per annum, reflecting a reversionary £68.83 per sq ft. The restaurant, let to the iconic Bob Bob Ricard, secures income until 2042 at £690,311 per annum, showcasing an under-valued yet prime rent opportunity.

Soho’s vibrant location benefits from significant regeneration, facilitated by stakeholders such as Soho Estates and The Crown Estate. Surrounded by high-demand retail and cultural landmarks, the asset stands amid London's strongest office submarkets, supported by exceptional demand dynamics and a low vacancy rate of 0.4%.

This property not only offers an attractive initial yield of 5.01% but also presents compelling upside potential. Repositioning the office component post lease expiry in 2030 could drive rental growth well beyond the £160 per sq ft prime Soho level, elevating income towards £3,000,000 annually. Thus, Soho 1-3 Upper James Street is poised as a prime candidate for substantial cash flow stability and significant value creation in an evolving market landscape.