Leicester Square
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Transcript of Leicester Square
AT THE HEART OF LONDON’S WEST END...Leicester Square is exceptionally well connected by London’s public transport system. Within a short walk of thesite are Underground Stations at Leicester Square (Northern & Piccadilly lines), Piccadilly Circus (Piccadilly & Bakerloo lines), Charing Cross (Northern & Bakerloo lines) and Tottenham Court Road (Northern & Central lines).
When it opens in 2017, Crossrail will be accessible from Tottenham Court Road station which will make it possibleto travel across London and to surrounding areas in record time. Heathrow will be directly accessible in under 30 minutes.
The location is also extremely well served by buses and taxis.
Computer generated image www.lsq-site.com
CENTREPOINT
SOHO CENTRALST GILES
NATIONALGALLERY
SHAFTESBURYAVENUE
PICCADILLY CIRCUS
TRAFALGAR SQUARE
THESAVOY
CHARING CROSSSTATION
HORSE GUARDSPARADE
THE LONDON EYE
THE W HOTEL
CORINTHIAHOTEL
OVERVIEWLSQ, London WC2 is offered for sale on the instructions of
J Gershinson FRICS and S Davidson MRICS of Allsop LLP as
Joint Fixed Charge Receivers and Tamarin Ltd / Real Estate
Resolutions Ltd.
• Freehold site of 0.47 acres fronting Leicester Square
in the heart of London’s West End.
• Planning consent for a 227,000 sq ft (GIA) mixed use
scheme - a 245 bedroom hotel, 33 residential
apartments, a roof-top restaurant, restaurants / retail
opening out on to the square and a state of the art
cinema.
• Far reaching views of London’s impressive skyline.
• Benefitting from the extensive remodelling and
upgrading of Leicester Square which will provide one
of London’s finest public realm environments.
• Existing tenant income with vacant possession
obtainable to suit the purchaser’s timeframe.
• Potential for a range of alternative uses on site to
match the purchaser’s vision, subject to the necessary
consents.
• Unconditional offers are invited for the
freehold interest.
LSQ
www.lsq-site.com
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STAMFORUPPER
REGEN
T London - A Global CityLondon has long been established as one of the world’s most influential and dynamic cities. It has an enviable reputation as a leading international centre ofboth commerce and culture that makes it one of the finest places to live and work.
With a population in excess of 12 million and more than 250 languages spoken, itcan consider itself a truly global city. London is a destination for the world’smajor corporate and non-corporate organisations as well as being home to someof the worlds finest cultural, recreational and retail attractions.
LSQLEICESTER SQUARE / LONDON WC2
Not to scale and for identification purposes only.
Leicester SquareLeicester Square is the home of UK cinema hosting more than fifty film premieres every year and is the heartof London’s West End. Up to 35 million people pass through the square every year and it has more than25 restaurants, 15 bars and 7 cinemas. It also houses London’s collection of handprints of the stars.
The Square is the focal point of nine side streets creating the ideal meeting point in the West End. An idealmeeting point is also an ideal place to stay as a visitor to London, as seen by the successful opening of theW Hotel at the north west corner of the Square.
Leicester Square is currently undergoing a major refurbishment programme around the garden square that willsignificantly enhance the built environment and public realm. It is anticipated that the new look square will notonly maintain its position as the UK home of cinema but expand this to attract further high end restaurantsand hotels.
At the heart of thisvibrant city...
THE SAVOY STRAND HOUSES OF PARLIAMENT WESTMINSTER ABBEYWHITEHALLLONDON EYE
TRAFALGARSQUARE
LEICESTERSQUARE
CHARINGCROSS STATION
CORINTHIAHOTEL
THE W HOTEL
LSQLEICESTER SQUARE / LONDON WC2
A bustling central location with easy access to London’stransport connections
From Leicester Square by public transport: Mins
UNDERGROUND / RAIL
Charing Cross Station 2
King’s Cross 14
Victoria 12
St Paul’s 14
Knightsbridge 7
City Airport 35
Heathrow Airport 40
Gatwick Airport 50
Stansted Airport 70
CROSSRAIL
Leicester Square (Tottenham Court Road) to Heathrow 28
Route Map
Surface line
Tunnel
Portal (tunnel entrance and exit)
Paddington
ShenfieldRomford
Brentwood
HaroldWood
GideaPark
CustomHouse
ChadwellHeath
Goodmayes
SevenKings
ManorPark
IlfordForestGateStratford
WhitechapelFarringdonIverSloughTaplowBondStreet
ActonMain Line
WestEaling
TottenhamCourt Road
CanaryWharf
Liverpool Street
Langley WestDrayton
HeathrowAirport
EalingBroadwayHanwell
Southall
Hayes &Harlington
AbbeyWood
Maryland
Woolwich
BurnhamMaidenhead
LSQLEICESTER SQUARE / LONDON WC2
www.lsq-site.com
Waterloo
Blackfriars
CentralDistrictNorthernPiccadilly
Waterloo & CityJubileeBakerlooCircle
Bond Street
OxfordCircus
Green Park
Charing Cross
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Southwark
Covent Garden
LeicesterSquare
Holborn
Tottenham Court Road
RIVER THAMES
Victoria
Elephant & Castle
Hyde Park Corner
PiccadillyCircus
St James’sPark
Westminster
Embankment
LSQ
Not to scale and for identification purposes only.
Artist impressions of the future of Leicester Square. (Courtesy of Burns + Nice)
THE FUTURE OF LEICESTER SQUARE
A redesign of Leicester Square to regenerate it in line with its international status and reputation commenced atthe end of 2010. The £15 million project will transform the Square into a destination address designed for people to enjoy the West End’s principal meeting point.
Included within the scheme is improved seating, high quality public art and imaginative lighting all aimed at encouraging people to spend time in the Square. The refurbishment will also maintain the intrinsic English landscape qualities of the gardens at the centre of the Square.
It is anticipated that the reinvention of the Square as a destination address will attract significant investment froma number of high profile retailers and hoteliers as witnessed by the success of the W Hotel. Michael Wale, seniorvice president of Starwood, compared the launch of the W Hotel Leicester Square with that of the W Hotel TimesSquare, New York City, in 2001:
“At that point it was at the same stage as Leicester Square and we were one of the anchor projects to accelerate its regeneration”.
www.lsq-site.com
THE EXISTING PROPERTYA. ODEON WEST END, 38-40 LEICESTER SQUARESituated on the corner of Leicester Square, the Odeon cinemabuilding is a two screen cinema and office building over basement,ground and 6 upper floors totalling 44,572 sq ft (GIA).
B. 42 LEICESTER SQUAREOffice and retail premises totalling 8,762 sq ft (NIA). Ground andpart basement is currently occupied by BetFred. The upper officeparts are vacant. Two Natwest ATMs are also located at groundlevel.
C. BROADMEAD HOUSE & WESTCOMB HOUSEBroadmead House comprises a vacant six storey office building of8,762 sq ft (NIA). Westcomb House is fully vacant with a basementand ground floor restaurant and five storeys of offices above (totalling 6,814 sq ft (GIA).
D. THE HAND AND RACQUET, 48 WHITCOMB STREETA vacant public house situated on the corner of Whitcomb and Orange Street. 3,165 sq ft (NIA) arranged over basement, groundand three upper floors with the third floor providing residential accommodation.
A/B A
AC A C D
TENURE
The 0.47 acre site is offered on a freehold basis.
Further information on the existing tenancies can be found at www.lsq-site.com
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19HuguenotHouse
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© UKMap Copyright The GeoInformation Group 2011 Licence No. LANDMLON100003121118. Plotted Scale - 1:959
View from neighbouring building towards the south east
View from neighbouring building towards the south west
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© UKMap Copyright The GeoInformation Group 2011 Licence No. LANDMLON100003121118. Plotted Scale - 1:959
THE CONSENTEDSCHEME
Planning consent was granted in October 2008 by Westminster City Council for a MAKE Architects designed227,734 sq ft (GIA) mixed use development that would provide:
• A 245 bedroom luxury hotel
• A roof-top restaurant with skyline views of London
• 33 high quality residential apartments with views over Leicester Square, Trafalgar Square and beyond
• 18,234 sq ft (GIA) of restaurant / retail space that opens out on to the Square
• A state of the art cinema in the basement levels
The accommodation is designed over three basement levels, lower ground, upper ground and nine upper floors.
A distinctive curved layout will mark the entrance to the cinema and an iconic frontage of mirrored stainlesssteel will bring fresh focus to the south west corner of Leicester Square.
Full information is available on the sale website and from Westminster City Council (ref: 08/03016/FULL).
Gross External Area Gross Internal Area Units
Sq M Sq Ft Sq M Sq Ft
Residential 6,266 67,444 5,307 57,125 33 residential units
Hotel 8,687 93,507 8,434 90,784 245 hotel bedrooms
Cinema 1,632 17,562 1,584 17,050 660 seats
Retail / Restaurant 1,745 18,781 1,694 18,234 4 restaurant / retail units
Ancillary / Plant 4,262 45,878 4,138 44,541 -
Total 22,592 243,172 21,157 227,734 -
Computer generated image
Hotel Entrance
Residential Entrance
Areas provided by E.C.Harris
CINEMA
RETAIL / RESTAURANT
RESIDENTIALHotel Entrance
Residential Entrance
HOTEL
Hotel Entrance
Residential Entrance
RADISSON EDWARDIAN EXCLUDED FROM SALE
Hotel Entrance
Residential Entrance
Plans for illustrative purposes only. Not to scale.A full set of floor plans and elevations can be downloaded from the website: www.lsq-site.com
UPPER GROUND
9th - 13,024 sq ft
8th - 15,468 sq ft
7th - 16,124 sq ft
6th - 17,072 sq ft
5th - 17,760 sq ft
4th - 17,674 sq ft
3rd - 17,427 sq ft
2nd - 17,276 sq ft
1st - 16,759 sq ft
B3 - 14,553 sq ft
Total (GIA)227,734 sq ft
B2 - 12,389 sq ft
B1 - 17,588 sq ft
Lower Gnd - 18,826 sq ft
Upper Gnd - 15,791 sq ft
CINEMA
RETAIL / RESTAURANT
RESIDENTIALHotel Entrance
Residential Entrance
HOTEL
RADISSON EDWARDIAN EXCLUDED FROM SALE
TYPICAL HOTEL FLOOR - 5th TYPICAL RESIDENTIAL FLOOR - 7thPlans for illustrative purposes only. Not to scale.A full set of floor plans and elevations can be downloaded from the website: www.lsq-site.com
Plans for illustrative purposes only. Not to scale.A full set of floor plans and elevations can be downloaded from the website: www.lsq-site.com
3DREID ARCHITECTSALTERNATIVE PROPOSAL2011 As a further study architects 3DReid have been commissioned to establish what could be possible on sitewithin the broad parameters of the consented bulk and massing of the MAKE designed scheme. This has resulted in a residential led development, broadly rectangular in shape with the cinema located at basement level, retail on ground and first facing onto Leicester Square and residential accommodation from lower basement to 10th floor.
A summary of the proposed accommodation is set out below with a schedule of areas:
Please note that this exercise is purely an illustrative one and carries no planning status and has not been presented to the London Borough of Westminster.
Use Gross Internal Area
sq m sq ft
Residential / Other 14,183 152,665
Cinema & Plant 1,359 14,628
Leisure / Plant 1,058 11,388
Restaurant / Retail 2,546 27,404
Core / Communal 2,016 21,700
Total GIA 21,162 227,785
Roof Terrace 1,154 12,421
Total area including roof terrace 22,316 240,206
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GROUND
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LEICESTER SQUARE
LEICESTER SQUAREORANGE STREET
ORANGE STREET
10th - 12,421 sq ft
9th - 16,111 sq ft
8th - 16,111 sq ft
7th - 16,819 sq ft
6th - 16,819 sq ft
5th - 16,819 sq ft
4th - 16,819 sq ft
3rd - 16,819 sq ft
2nd - 16,819 sq ft
1st - 16,819 sq ft
Gnd - 14,681 sq ft
B1 - 7,438 sq ft
B2 - 14,239 sq ft
B3 - 12,131 sq ft
B4 - 16,920 sq ft
Total (GIA)227,785 sq ft
TYPICAL FLOOR PENTHOUSE FLOORPlans for illustrative purposes only. Not to scale.A full set of floor plans and elevations can be downloaded from the website: www.lsq-site.com
Plans for illustrative purposes only. Not to scale.A full set of floor plans and elevations can be downloaded from the website: www.lsq-site.com
CINEMA / LEISURE
RESTAURANT / RETAIL
RESIDENTIAL / OTHER
LSH EXCLUDED
CENTRAL LONDON RESIDENTIALMARKET COMMENTARY
London’s housing market has continued to follow a very different path tothat seen in the wider UK market. Prime London property prices rose by0.9% alone in August, taking the annual increase to over 10%. Indeed,prices have been rising strongly since April 2009, and are now 4% higherthan their previous peak in March 2008 (a 35% increase in total).
In contrast to the mainstream market, sales activity in the prime central London market has been strong in recent months, with a rise in new instructions and a subsequent rise in transactions. But supply is still notmeeting the pent-up demand in the market.
Buyer demand for prime properties in the capital looks set to continue, signalling a further rise in prices throughout the rest of the year, albeit at a more modest pace. The strength of this demand is largely attributed to the strength of the Euro and Dollar compared to the Sterling with the twocurrencies enjoying relative discounts of 10% and 18% respectively. In addition,the low UK base rate has given greater incentive for buyers to acquire in the“safe haven” of the London property market.
Despite becoming a more expensive market to buy into Prime London propertycontinues to attract domestic and global wealth. Such purchasers are attracted by the potential to achieve capital growth at least at, or ahead of, income growth. This means that total returns on investments of between 8% - 10% could be achievable, before gearing and also before profits from development. Going forward, we forecast that prices will rise by 6% nextyear and 7% in 2013.
CENTRAL LONDON HOTELSMARKET COMMENTARY
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1.0
0.5
0.0
-0.5
-1.0
2010 2011
Mon
thly
% c
han
ge
Prime central London average residental price change
A SON D J FMAM J J A S OND J FMAM J J A
25 9
7
5
3
1
-1
-3
-5
-7
20
15
10
5
0
-5
-10
-15
-20
12 m
onth
% c
han
ge
Three m
onth
ly % ch
ange
2009 2010 2011
12 month change Three monthly % change
Prime central London average residential price change
Source: Knight Frank Residential ResearchSource: Knight Frank Residential Research
All High Street Shops
Central London
200
2 Q
2
200
2 Q
4
200
3 Q
2
200
3 Q
4
200
4 Q
2
200
4Q4
200
5 Q
2
200
5 Q
4
200
6 Q
2
200
6 Q
4
200
7 Q
2
200
7 Q
4
200
8 Q
2
200
8 Q
4
200
9 Q
2
200
9 Q
4
2010
Q2
2010
Q4
2011
Q2
9
8
7
6
5
4
3
2
1
0
Secondhand New Completed New Under Construction
mill
ion
sq f
t
Q2
200
7
Q3
200
7
Q4
200
7
Q1
200
8
Q2
200
8
Q3
200
8
Q4
200
8
Q1
200
9
Q2
200
9
Q3
200
9
Q4
200
9
Q1
2010
Q2
2010
Q3
2010
Q4
2010
Q1
2011
Q2
2011
£1,000
£900
£800
£700
£600
£500
£400
£300
Bond Street
Oxford Street West Regent Street
Oxford Street East
1989
1991
1993
1995
1997
1999
200
1
200
3
200
5
200
7
200
9
2011
2013
2.5
2.0
1.5
1
0.5
0
mill
ion
sq f
t
Completed
Under Construction Available Proposed Available
Under Construction Let/Under Offer
2008 2009 2010 2011 2012
10.0
8.0
6.0
4.0
2.0
0.0
-2.0
-4.0
-6.0
-8.0
% C
han
ge Y
-on-
Y
A S O N D J F M A M J J A
1.5
1.0
0.5
0.0
-0.5
-1.0
2010 2011
Mon
thly
% c
han
ge
Prime central London average residental price change
A SON D J FMAM J J A S OND J FMAM J J A
25 9
7
5
3
1
-1
-3
-5
-7
20
15
10
5
0
-5
-10
-15
-20
12 m
onth
% c
han
ge
Three m
onth
ly % ch
ange
2009 2010 2011
12 month change Three monthly % change
Prime central London average residential price change
Source: Knight Frank Residential ResearchSource: Knight Frank Residential Research
All High Street Shops
Central London
One of the great world cities, London benefits from a vibrant hotel marketcommensurate with the city’s international image. It is Europe’s businesshub and is the most visited city in the world attracting 26 million visitorseach year. It appeals to high spending business and leisure visitors as a result of the city’s desirability as a cultural and commercial destination.
During 2010 the UK hotel market demonstrated a strong recovery from theglobal recession. Tri HotStats reported London rooms occupancy and ARRincreased in 2010 by 2% and 8.9% respectively over the previous year. The increase in occupancy to 82.1% and the recovery in ARR to £123.32 led to a room RevPAR performance of £101.20, an increase of 11.5%.
Whilst 2010 was bolstered by events such as the Farnborough Air Show andthe Wimbledon Championships growth has continued strongly into 2011.HotStats have reported an extraordinary occupancy level of 92.4% for July2011 which is a 0.6% year on year increase in room occupancy following thestaggering 91.8% achieved in July 2010. ARR at £148.65 for the month is thehighest recorded.
The prospects for a continued growth in the capital look strong. The start ofthe 2012 Olympics is under a year away and estimated visitor numbers producedby Visit Britain forecast a continued growth in leisure travellers from Europe,North America and BRIC, all taking advantage of the relative weakness inthe pound.
London is one of the world’s leading financial and cultural centres exertinga powerful influence over worldwide commerce, politics, education, media,fashion and the arts, which all contribute to its status as a global city andprime leisure and business destination.
There have been several high profile hotel openings in 2011 to include theW London, Leicester Square, Corinthia Hotel and Renaissance St Pancras allof which have added to the reputation of London as a top international destination.
Hotel transaction activity in London remains limited driven by the very restrictedsupply of available property and strong underlying trading fundamentals.London’s relative resilience and the prospect of a sustained recovery makethe capital one of the most sought after hotel property markets.
£160
£120
£80
£40
0H1 2011
ARR
RevPAR
ARR RevPAR ARR
£120
£80
£40
0
20102009
£140
£100
£60
£20
2010
Occupancy
2009 JAN 11 FEB 11 MAR 11 APR 11 MAY 11 JUN 11 JUL 11
100.0%
90.0%
80.0%
70.0%
60.0%
50.0%
40.0%
30.0%
20.0%
10.0%
0
£140
£100
£60
£20
RevPAR ARR RevPAR
UK Total London Provinces
8.00%
4.00%
0.00%
- 4.00%
10.00%
6.00%
2.00%
- 2.00%
Variance Difference
£160
£120
£80
£40
0H1 2011
ARR
RevPAR
ARR RevPAR ARR
£120
£80
£40
0
20102009
£140
£100
£60
£20
2010
Occupancy
2009 JAN 11 FEB 11 MAR 11 APR 11 MAY 11 JUN 11 JUL 11
100.0%
90.0%
80.0%
70.0%
60.0%
50.0%
40.0%
30.0%
20.0%
10.0%
0
£140
£100
£60
£20
RevPAR ARR RevPAR
UK Total London Provinces
8.00%
4.00%
0.00%
- 4.00%
10.00%
6.00%
2.00%
- 2.00%
Variance Difference
CENTRAL LONDON RESTAURANTS AND RETAILMARKET COMMENTARY
Prime Zone A Rents
Rental Value Growth
Restaurant accommodation is in high demand in the West End of Londonfrom top end Michelin starred destinations to more mainstream brands withsubstantial premiums being paid to secure quality sites. Leicester Square is aworld renowned location and as such there will be wide range of operatorsthat are seeking the type of exposure this location can provide. We wouldanticipate that the ground floor operator would be able to benefit from thehigh footfall and the rooftop would be a more discerning operator / international brand able to trade at a higher price point. Recent activitynearby includes The Spice Market at the W Hotel, the Hippodrome redevelopment with Café Rouge adjacent and Busaba Eathai on Panton Street.
The Central London Retail market continues to perform for retailers and investors alike. The core West End streets (Oxford, Regent and Bond) haveseen increasing rental tone as Zone A’s have been pushed to new levels inmost areas. Quality space is hard to find across the West End with levels ofdemand increasing on all streets.
Luxury brands maintain Bond Street’s position as the most expensive spacein London with a mixture of rental and premium deals on new space. Retailers’ appetite for space on Oxford Street continues despite the disruption caused by work on the new Crossrail link.
Regent Street continues to go from strength to strength, anchored by someof the world’s leading brands. It continues to improve both the quality of itsretailers and its retail breadth. The creation of what will become one ofBurberry’s major UK flagships is a massive benefit to the southern end ofthe street and with the delivery of the Quadrant development and other recent changes will truly extend the locations retail power.
Leicester Square itself has seen the recent opening of the first M&M storeoutside of the USA, taking advantage of the high footfall through theSquare and its association with the leisure and entertainment markets.
Central London’s ability to weather the storm lies in the diverse tenant mixand sheer scale of the retailing offer. Stable demand together with supplyconstraints is expected to see rental growth of 2.3% per annum over thenext three years (to 2014) outperforming all other regions in the UK.
CENTRAL LONDON OFFICEMARKET COMMENTARY
West End AvailabilityAll market indicators suggest that the Central London office market is wellon the road to recovery. Increasing demand and diminishing supply is resulting in revived market confidence amongst occupiers and investorsalike. The supply squeeze combined with an extremely tight pipeline ofGrade ‘A’ offices, presents a strong case for significant rental growth overthe next 3-4 years.
Take up in the second quarter of 2011 rose to 1.2m sq.ft. and remained abovetrend for the seventh successive quarter. Take-up increased for all types ofaccommodation, particularly new space, and the second quarter also saw areturn of pre-lettings. The amount of space currently under offer suggeststhat take up will stay strong. Availability has dropped to its lowest level inthree years driven by a sharp decline in the supply of second hand and newspace under construction.
Over the last two years, West End leasing activity has recovered steadilyfrom the downturn and rents have remained firm. Prime rents have stayed at£92.50 per sq ft in the West End. Spurred by the imbalance between supplyand demand, forecasts paint a positive picture with prime rents expected toreach £130 per sq ft by 2013.
Having moved out from 3.5% at their prime in the summer of 2007, prime office yields in the West End have recovered to circa 4%.
Completion levels are set to dip in 2011 with only 1.9m sq ft scheduled forcompletion this year it could be one of the lowest on record for development completions. Completion rates will improve next year with3.1m sq ft expected to complete and this figure is set to rise in 2013.
200
2 Q
2
200
2 Q
4
200
3 Q
2
200
3 Q
4
200
4 Q
2
200
4Q4
200
5 Q
2
200
5 Q
4
200
6 Q
2
200
6 Q
4
200
7 Q
2
200
7 Q
4
200
8 Q
2
200
8 Q
4
200
9 Q
2
200
9 Q
4
2010
Q2
2010
Q4
2011
Q2
9
8
7
6
5
4
3
2
1
0
Secondhand New Completed New Under Construction
mill
ion
sq f
t
Q2
200
7
Q3
200
7
Q4
200
7
Q1
200
8
Q2
200
8
Q3
200
8
Q4
200
8
Q1
200
9
Q2
200
9
Q3
200
9
Q4
200
9
Q1
2010
Q2
2010
Q3
2010
Q4
2010
Q1
2011
Q2
2011
£1,000
£900
£800
£700
£600
£500
£400
£300
Bond Street
Oxford Street West Regent Street
Oxford Street East
1989
1991
1993
1995
1997
1999
200
1
200
3
200
5
200
7
200
9
2011
2013
2.5
2.0
1.5
1
0.5
0
mill
ion
sq f
t
Completed
Under Construction Available Proposed Available
Under Construction Let/Under Offer
2008 2009 2010 2011 2012
10.0
8.0
6.0
4.0
2.0
0.0
-2.0
-4.0
-6.0
-8.0
% C
han
ge Y
-on-
Y
A S O N D J F M A M J J A
1.5
1.0
0.5
0.0
-0.5
-1.0
2010 2011
Mon
thly
% c
han
ge
Prime central London average residental price change
A SON D J FMAM J J A S OND J FMAM J J A
25 9
7
5
3
1
-1
-3
-5
-7
20
15
10
5
0
-5
-10
-15
-20
12 m
onth
% c
han
ge
Three m
onth
ly % ch
ange
2009 2010 2011
12 month change Three monthly % change
Prime central London average residential price change
Source: Knight Frank Residential ResearchSource: Knight Frank Residential Research
All High Street Shops
Central London
200
2 Q
2
200
2 Q
4
200
3 Q
2
200
3 Q
4
200
4 Q
2
200
4Q4
200
5 Q
2
200
5 Q
4
200
6 Q
2
200
6 Q
4
200
7 Q
2
200
7 Q
4
200
8 Q
2
200
8 Q
4
200
9 Q
2
200
9 Q
4
2010
Q2
2010
Q4
2011
Q2
9
8
7
6
5
4
3
2
1
0
Secondhand New Completed New Under Construction
mill
ion
sq f
t
Q2
200
7
Q3
200
7
Q4
200
7
Q1
200
8
Q2
200
8
Q3
200
8
Q4
200
8
Q1
200
9
Q2
200
9
Q3
200
9
Q4
200
9
Q1
2010
Q2
2010
Q3
2010
Q4
2010
Q1
2011
Q2
2011
£1,000
£900
£800
£700
£600
£500
£400
£300
Bond Street
Oxford Street West Regent Street
Oxford Street East
1989
1991
1993
1995
1997
1999
200
1
200
3
200
5
200
7
200
9
2011
2013
2.5
2.0
1.5
1
0.5
0
mill
ion
sq f
t
Completed
Under Construction Available Proposed Available
Under Construction Let/Under Offer
2008 2009 2010 2011 2012
10.0
8.0
6.0
4.0
2.0
0.0
-2.0
-4.0
-6.0
-8.0
% C
han
ge Y
-on-
Y
A S O N D J F M A M J J A
1.5
1.0
0.5
0.0
-0.5
-1.0
2010 2011
Mon
thly
% c
han
ge
Prime central London average residental price change
A SON D J FMAM J J A S OND J FMAM J J A
25 9
7
5
3
1
-1
-3
-5
-7
20
15
10
5
0
-5
-10
-15
-20
12 m
onth
% c
han
ge
Three m
onth
ly % ch
ange
2009 2010 2011
12 month change Three monthly % change
Prime central London average residential price change
Source: Knight Frank Residential ResearchSource: Knight Frank Residential Research
All High Street Shops
Central London
West End Development Pipeline
200
2 Q
2
200
2 Q
4
200
3 Q
2
200
3 Q
4
200
4 Q
2
200
4Q4
200
5 Q
2
200
5 Q
4
200
6 Q
2
200
6 Q
4
200
7 Q
2
200
7 Q
4
200
8 Q
2
200
8 Q
4
200
9 Q
2
200
9 Q
4
2010
Q2
2010
Q4
2011
Q2
9
8
7
6
5
4
3
2
1
0
Secondhand New Completed New Under Construction
mill
ion
sq f
t
Q2
200
7
Q3
200
7
Q4
200
7
Q1
200
8
Q2
200
8
Q3
200
8
Q4
200
8
Q1
200
9
Q2
200
9
Q3
200
9
Q4
200
9
Q1
2010
Q2
2010
Q3
2010
Q4
2010
Q1
2011
Q2
2011
£1,000
£900
£800
£700
£600
£500
£400
£300
Bond Street
Oxford Street West Regent Street
Oxford Street East
1989
1991
1993
1995
1997
1999
200
1
200
3
200
5
200
7
200
9
2011
2013
2.5
2.0
1.5
1
0.5
0
mill
ion
sq f
t
Completed
Under Construction Available Proposed Available
Under Construction Let/Under Offer
2008 2009 2010 2011 2012
10.0
8.0
6.0
4.0
2.0
0.0
-2.0
-4.0
-6.0
-8.0
% C
han
ge Y
-on-
Y
A S O N D J F M A M J J A
1.5
1.0
0.5
0.0
-0.5
-1.0
2010 2011
Mon
thly
% c
han
ge
Prime central London average residental price change
A SON D J FMAM J J A S OND J FMAM J J A
25 9
7
5
3
1
-1
-3
-5
-7
20
15
10
5
0
-5
-10
-15
-20
12 m
onth
% c
han
ge
Three m
onth
ly % ch
ange
2009 2010 2011
12 month change Three monthly % change
Prime central London average residential price change
Source: Knight Frank Residential ResearchSource: Knight Frank Residential Research
All High Street Shops
Central London
200
2 Q
2
200
2 Q
4
200
3 Q
2
200
3 Q
4
200
4 Q
2
200
4Q4
200
5 Q
2
200
5 Q
4
200
6 Q
2
200
6 Q
4
200
7 Q
2
200
7 Q
4
200
8 Q
2
200
8 Q
4
200
9 Q
2
200
9 Q
4
2010
Q2
2010
Q4
2011
Q2
9
8
7
6
5
4
3
2
1
0
Secondhand New Completed New Under Construction
mill
ion
sq f
t
Q2
200
7
Q3
200
7
Q4
200
7
Q1
200
8
Q2
200
8
Q3
200
8
Q4
200
8
Q1
200
9
Q2
200
9
Q3
200
9
Q4
200
9
Q1
2010
Q2
2010
Q3
2010
Q4
2010
Q1
2011
Q2
2011
£1,000
£900
£800
£700
£600
£500
£400
£300
Bond Street
Oxford Street West Regent Street
Oxford Street East
1989
1991
1993
1995
1997
1999
200
1
200
3
200
5
200
7
200
9
2011
2013
2.5
2.0
1.5
1
0.5
0
mill
ion
sq f
t
Completed
Under Construction Available Proposed Available
Under Construction Let/Under Offer
2008 2009 2010 2011 2012
10.0
8.0
6.0
4.0
2.0
0.0
-2.0
-4.0
-6.0
-8.0
% C
han
ge Y
-on-
Y
A S O N D J F M A M J J A
1.5
1.0
0.5
0.0
-0.5
-1.0
2010 2011
Mon
thly
% c
han
ge
Prime central London average residental price change
A SON D J FMAM J J A S OND J FMAM J J A
25 9
7
5
3
1
-1
-3
-5
-7
20
15
10
5
0
-5
-10
-15
-20
12 m
onth
% c
han
ge
Three m
onth
ly % ch
ange
2009 2010 2011
12 month change Three monthly % change
Prime central London average residential price change
Source: Knight Frank Residential ResearchSource: Knight Frank Residential Research
All High Street Shops
Central London
THE PROPOSITIONLSQ presents an unrivalled real estate opportunity to:
• Acquire a prominent 0.47 acre site in one of the world’s most recognised destinations.
• Benefit from an existing planning consent offering a substantial mixed use scheme and which sets a benchmark for bulk and massing.
• Deliver a significant development in the heart of the West End, in one of the world’s foremost capital cities.
• Benefit from an existing income stream with flexibility to suit the purchaser’s timing.
• Fulfil the purchaser’s own development vision in place of the consented scheme if so desired with the potential for a wide range of uses to be considered, subject to the necessary consents.
The freehold site is offered for sale on an unconditional basis.
Computer generated image www.lsq-site.com
Aerial view looking west
BUCKINGHAMPALACE
ST JAMES’SPARK
REGENTSTREET
PICCADILLYCIRCUS
ONE HYDE PARK
HORSEGUARDS PARADE
TRAFALGARSQUARE
LSQLEICESTER SQUARE / LONDON WC2
Important Notice
i. ParticularsThese particulars are not an offer or contract nor part of one. You should not rely on statements by CB Richard Ellis or Knight Frank LLP in the particulars or by word of mouth or in writing as being factually accurate about the property, its condition or its value. Neither CB Richard Ellis nor Knight Frank LLP has any authority to make any representationsabout the property or development and accordingly any information given is entirely without responsibility on the part of the agents, sellers or lessors.
ii. Images photographs and other informationAny computer generated images, plans, drawings, accommodation schedules, specificationdetails or other information provided about the property (“information”) are indicative only. Any such information may change at any time and must not be relied upon as beingfactually accurate about the property. Any photographs are indicative of the quality and style of the development and location and do not represent the actual fittings and furnishings at this development.
iii. RegulationsAny reference to alterations to the property or use of any part of the development is not a statement that any necessary planning, building regulations or other consent has been obtained. These matters must be verified by any intending purchaser.
Designed & produced by The Looking Glass Design & E-Media. T: 020 7384 1322October 2011