38 Portland Place

38

PORTLAND PLACEW1

GRADE II* LISTED HEADQUARTERS BUILDING

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EXECUTIVE SUMMARY

l The property is located in a prime Marylebone location benefi tting

from excellent communications

l Self contained period Grade II* listed Georgian property

l Long Leasehold (941 years unexpired) fi xed at £450 per annum

until 2953

l Vacant possession is planned for 2013, when the current owner and

occupier relocates to alternative accommodation.

PROPOSAL

Our client, the current owner and occupier has planned to vacate the building

by July 2013 and will offer:

l An occupational lease for a term to be agreed; or

l A purchase of the existing long leasehold interest (941 years unexpired).

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38 PORTLAND PLACE W14

NEW CAVENDISH STREET

NEW CAVENDISH STREET

PADDINGTON STREET

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CR

OSS R

OA

D

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URY AVEN

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POR

TLA

ND

PLAC

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GEN

T ST

REET

MARLEBONE ROAD

BAKER

STR

EET

B

AK

ER ST

REET

GLO

UC

ESTER

PLAC

E

G

LOU

CEST

ER PLA

CE

SEYOMUR ST

SQUARE

WIGMORE STREET

MORTIMER STREET

G

OOGE ST

MA

RY

LEB

ON

E H

IGH

STR

EE

T

WO

BURN

PLACE

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WER STREET

BLOO

MSBU

RY STREET

OXFORD STREET

OXFORD STREET

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AT PO

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LAN

D ST

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ET

TOT

TEN

HAM

CO

URT

ROAD

PORTMAN

WELB

ECK

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EET

BON

D STREET

WEYMOUTH STREET

EUSTON ROAD

OXFORDCIRCUS

BONDSTREET

MARBLEARCH

TOTTENHAMCOURT ROAD

EUSTONSQUARE

BAKERSTREET

REGENTSPARK

GREATPORTLANDSTREET

WARRENSTREET

GOODGE STREET

REGENT’SPARK

THE PROPERTY

LOCATIONThe property is located in the exclusive Marylebone submarket, in the heart of London’s West End. Marylebone is situated with Fitzrovia and Soho to the east, Mayfair to the south and as such benefi ts from unrivalled shopping, restaurant, entertainment and hotel facilities in the immediate area. The property is within a few minutes’ walk of Marylebone Village, Regent Street and Oxford Street.

The property benefi ts from excellent communications with Oxford Circus (Central, Bakerloo and Victoria Lines), Regent’s Park (Bakerloo Line), Great Portland Street (Hammersmith and City, Metropolitan and Circle Lines) London Underground stations are all within a 5 minute walk and provide links to mainline rail stations. The property is also served by numerous bus routes.

SITUATIONThe property is situated on the east side of Portland Place, just to the north of its junction with New Cavendish Street. Nearby occupiers include The Royal Institute of British Architects, the Kenya High Commission, The Embassy of the People’s Republic of China, The BBC and The Langham Hotel. Regent’s Park, one of London’s most prestigious parks, lies immediately to the north, while Oxford Street and Regent Street lie immediately to the south.

Regents Park

Bond Street

GoodgeStreet

TottenhamCourt Road

Baker Street

Oxford Circus

Great PortlandStreet

WarrenStreet

THE PROPERTY


DESCRIPTION38 Portland Place was designed and built between 1774 and 1776 by the renowned Scottish architects Robert and James Adam. The property comprises a self contained period Georgian townhouse with a modern extension over ground, fi rst and second fl oors built in 1991. The property benefi ts from 8,779 sq ft of offi ce and ancillary accommodation over lower ground, ground and three upper fl oors. The building has been maintained to a high standard and benefi ts from large period meeting rooms on the fi rst fl oor with modern offi ce accommodation throughout including comfort cooling.

While being adapted over the years for the most part, the property has retained much of its “Adam style” splendour which is particularly evident in the Council Room, the Robens Room, the Members’ Room and the Members’ Writing Room.

The property also benefi ts from a secure rear entrance on Cavendish Mews North. There is also a secure garage at the Cavendish Mews North entrance.

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ACCOMMODATIONThe property comprises offi ce and ancillary accommodation over lower ground, ground and three upper fl oors. The property benefi ts from both period and modern accommodation. The property provides the following net internal area.

FLOOR USE TOTAL

Offi ce Ancillary Reception

Areasq m

Areasq ft

Areasq m

Areasq ft

Areasq m

Areasq ft

Areasq m

Areasq ft

Third 66.7 718 11.4 123 - - 78.1 841

Second 78.1 841 11.5 123 - - 89.6 964

Mews Second 66.2 712 49.0 527 - - 115.2 1,239

First 201.1 2,164 7.9 85 - - 209.0 2,249

Ground 104.9 1,129 14.9 161 23.2 250 143.0 1,540

Lower Ground 153.4 1,650 27.5 296 - - 180.9 1,946

OVERALL TOTAL 815.8 8,779


38 PORTLAND PLACE W1 7

3.3 sq m36 sq ft

13.0 sq m140 sq ft

24.7 sq m266 sq ft

2.8 sq m30 sq ft

22.5 sq m242 sq ft

6.5 sq m70 sq ft

LIFT

W/C

3.2 sq m34 sq ft

43.9 sq m473 sq ft

34.2 sq m368 sq ft

8.3 sq m89 sq ft

LIFT

FIRE ESCAPE

FLAT ROOF

THIRD FLOOR

SECOND FLOOR

OFFICE ANCILLARY RECEPTION

SECOND FLOOR MEWS

8.2 sq m88 sq ft 30.7 sq m

330 sq ft27.3 sq m294 sq ft

RESTRICTED HEADROOM

LIGHTWELL

LIFTW/C

W/C

FIREESCAPE

CU

PBD

FIRST FLOOR

51.1 sq m550 sq ft

33.3 sq m358 sq ft

76.1 sq m819 sq ft

20.8 sq m224 sq ft

19.8 sq m213 sq ft

LIGHTWELL

W/C

LIFTLIFT

31.9 sq m343 sq ft

24.7 sq m266 sq ft

31.1 sq m335 sq ft

17.2 sq m185 sq ft

LIFT

W/C

LIGHTWELL

LIGHTWELL

W/C

W/C

1.8 sq m19 sq ft

7.2 sq m78 sq ft

5.9 sq m64 sq ftGROUND FLOOR

LOWER GROUND FLOOR RESTRICTED

HEADROOM

7.8 sq m84 sq ft

9.3 sq m100 sq ft

46.3 sq m498 sq ft

6.1 sq m66 sq ft

21.2 sq m228 sq ft 14.9 sq m

160 sq ft

71.0 sq m764 sq ft

3.7 sq m40 sq ft

0.6 sq m6 sq ft

BOILER ROOM

STORE

PLANT

W/C W/C

LMRLIFT

LIGHTWELL

REFUSE

For Indicative Purposes Only. Not to Scale



TENUREThe property is held under a 999 year leasehold interest from Howard de Walden Estates Limited. The lease commenced on 5th August 1954 and expires 5th July 2953 (approximately 941 years unexpired).

The headrent is fi xed at £450.00 per annum for the remainder of the term.The permitted uses within the lease include the following: offi ces, private dwelling, self-contained private fl ats / maisonettes.


38 PORTLAND PLACE W1 9

TENANCIESThe property is currently occupied by The Royal College of Radiologists, whose planned vacant possession date is July 2013.

PLANNINGThe property is Grade II* listed and lies within the Harley Street conversation area. The property is also located within the Portland Place Special Policy Area.

The property benefi ts from Sui Generis use class that is restricted to institutional use. Therefore the existing use of the building allows:

l Professional institutions

l Charitable institutions or trusts and learned institutions

l Associations and trade federations

l Embassy

l Research and development institutions

Institutional use would allow offi ce, residential, café, leisure facilities and public access.

Jones Lang LaSalle anticipate that change of use to commercial or residential (non-institutional) use would likely be resisted by Westminster Council, as institutional use is protected within the Portland Place Special Policy Area.



VATThe property is not currently elected for VAT.

PROPOSALOffers are sought for the long leasehold interest (941 years unexpired).

Or

Offers are sought for a new occupational lease for a term to be agreed.

FURTHER INFORMATIONFor further details please contact

Bryony Gerega Charles Pinchbeck

Tel: 020 7399 5686 Tel: 020 7399 5206Email: [email protected] Email: [email protected]

Jourdan Rajwan Charlie Wade

Tel: 020 7399 5348 Tel: 020 7399 5919Email: [email protected] Email: [email protected]

© Crown Copyright 2012. All rights reserved. Promap licence number 100020449.

Jones Lang LaSalle licence number 100017659.

This plan is published for the convenience of identifi cation only and although

believed to be correct is not guaranteed and it does not form any part of any contract.

MISREPRESENTATIONS ACT 1967 & DECLARATION

Jones Lang LaSalle for themselves and for the vendors of this property whose agents

they are give notice that: a) the particulars are set out as general outline only for

the guidance of intending purchasers and do not constitute, nor constitute part of,

an offer or contract; b) all descriptions, dimensions, references to condition and

necessary permissions for use and occupation and other details are given in good faith

and are believed to be correct, but any intending purchaser should not rely on them

as statements or representations of fact but should satisfy themselves by inspection or

otherwise as to the correctness of each of them; c) no person in the employment of

Jones Lang LaSalle has any authority to make or give any representation or warranty

whatever in relation to this property.

Subject to Contract. Exclusive of VAT. October 2012


38 Portland Place

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