72 Welbeck Street, W1

Welbeck Street 72, London, W1G 0AY, UK

Description

Freehold, prominent virtual island site totalling 0.60 acres
Prime Marylebone location, just 2-minutes walk from Bond Street Station (Elizabeth line)
Institutional grade headquarters building comprising 113,768 sq ft (10,569.4 sq m) of Grade A office, retail, and residential accommodation
Comprehensive refurbishment of the offices and common parts completed in 2022 with no immediate capital expenditure required
All-electric building aligned to CRREM decarbonisation pathway until 2046
Topped-up passing rent of £7,728,375 per annum, reflecting just £69.32 per sq ft overall
Long-dated, secure income with an overall WAULT of 8.00 years to expiries and 5.80 years to break options
Diverse income stream with 81.0% offices,13.5% retail, and 5.5% residential (by income)
Multi-let offices passing off a low rent of £86.06 per sq ft
Significant reversionary potential with upcoming rent reviews in 2027 and 2028
Comparable office lettings within the immediate vicinity have achieved rents of up to £185.00 per sq ft
All office leases are outside the security of tenure provisions of the Landlord and Tenant Act 1954
Landlord development breaks offer the opportunity for vacant possession in 2031 to explore significant additional massing
Seven prominent retail units with frontages to three of Marylebone’s most prestigious addresses including Wigmore Street, Welbeck Street and Marylebone Lane
Prime residential accommodation with views across Marylebone, comprising 23 units currently operated under a management agreement with Native Places

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Attributes

Building area net

10,569 m²

Occupancy

100%

WAULT to breaks

5.9 years

WAULT to expiries

8 years

Total Annual Rent

MYR 43,519,694.56

Media

Investment Highlights

LANDMARK FREEHOLD HEADQUARTER BUILDING – All office floors pre-let prior to completion
PRIME WEST END LOCATION – Close proximity to Bond Street station (Elizabeth / Central / Jubilee lines)
RECENTLY COMPREHENSIVELY REFURBISHED OFFICES – Completed in 2022 with no immediate capital expenditure required
FUTURE PROOFED ASSET – All-electric and Net Zero Carbon (Operation via GHG pathway) building
DIVERSE AND SECURE INCOME STREAM – 81.0% offices, 13.5% retail and 5.5% residential (by income) with an 8 year WAULT
HIGHLY REVERSIONARY OFFICES – Multi-let offices passing off a low rent of £86.06 per sq ft, with significant reversionary potential at upcoming rent reviews in 2027 and 2028
HIGH-PERFORMING SUBMARKET – Comparable office lettings within the immediate vicinity have achieved rents of up to £185.00 per sq ft. Marylebone occupational market dynamics support in excess of 16% projected rental growth over the next five years
FUTURE MASSING POTENTIAL – Opportunity to explore significant additional massing from 2031
PROMINENT RETAIL – Seven prominent retail units with frontages to three of Marylebone's most prestigious retail destinations including Wigmore Street, Welbeck Street and Marylebone Lane
ATTRACTIVE RESIDENTIAL – The residential units offer views across Marylebone comprising 23 units under a management agreement, with ability to significantly drive rental performance post-purchase