harrington court - savillspdf.savills.com/documents/harringtoncourtlondonsw7.pdf · 4 5 investment...
TRANSCRIPT
h a r r i n g t o n C o U rt
London
4 5
inVEStMEnt highLightS g Rare opportunity to acquire a substantial
freehold property in one of London’s most desirable locations
g The property comprises 49 apartments and 12 retail units together with ancillary accommodation
g 33 of the apartments benefit from a short term letting planning designation, whilst 16 have a residential (C3) planning consent
g Excellent potential to generate higher income through a refurbishment of the units as serviced apartments
g Projected stabilised income from the serviced apartments based on their existing condition of £1.93 million per annum by year three
g Low retail rents offering excellent prospects for future rental growth following a strategic asset management initiative
g Potential for a change of use from serviced apartments to residential (C3), subject to the necessary consents
g Potential for an additional floor at roof level, creating further accommodation subject to the necessary consents
g Total gross internal area of the building is approximately 58,000 sq ft (5,400 sq m)
g Vacant possession of the freehold subject to the occupational tenancies
On the instructions of B Moon and J Pitt of BNP Paribas Real Estate acting as Joint Fixed Charge Receivers
6
LoCationHarrington Court is located in the heart of South Kensington, within a short distance of South Kensington Underground station. The immediate area is renowned for its affluent mix of hotels, restaurants, retail, museums and upmarket residential dwellings.
The property is situated on the southern side of Harrington Road, at the junction with Glendower Place. The immediate neighbourhood is characterised by an elegant combination of tree lined avenues, attractive white stucco villas, ornate red brick mansions and private communal gardens.
South Kensington is home to world famous cultural attractions including the Royal Albert Hall, the Natural History Museum and the Victoria & Albert Museum. A wide range of cafes, restaurants and fashionable shops add to the area’s appeal. The well regarded French Lycee school is also diagonally opposite on the northern side of Harrington Road.
The area is extremely well served by public transport with South Kensington Underground station (Circle, District and Piccadilly lines) only 50 metres east of the property. The Cromwell Road (A4), which leads to the M4 and M25 motorways, is approximately 150 metres to the north of the property and is a major thoroughfare into central London and out to London Heathrow Airport, as well as areas west of London.
Both London Paddington Station, approximately 4 km (2.5 miles) from the property and London Victoria, approximately 4.2 km (2.6 miles) from the property, operate direct express train services to London Heathrow Airport and London Gatwick Airport respectively.
ASH
BURN
PL
B O LTO N G R D N SLAVERTO
N PLBARKSTON GRDNS
C
OURTF IELD GRDN S
H A R R I N GTO N R D
THE BOLTO
NS
CRESSWELL PL
B INA
GRDN
S DRAYTON G
RDNS
P R I ORY W
A LK
ROLA
ND G
RDNS E VELYN GRDNS
ROLA
ND W
AY
ROSA
RY GRDN
S
B325 GLO
UCESTER RD CRANLEY G
RDNS O N SLOW
GRD N S
ON S LOW
SQUAR E
CRANLEY M
EWS
FOULIS TERR ACE
STAN
HO
PE MEW
S WSTA
NH
OPE G
RDNS
STAN
HO
PE GRDN
SSTA
NH
OPE M
EWS E
O N S LOW ME WS E
COLLIN
GHAM P L
H AR R I N GTO N G R D N S
P E L H A M ST
ONSLOW SQUARE
S T E R R AC E
S PA R A D E
C A L E ST
SYDNEY ST
ST LUKE ’S STREET
STEWART’S G
ROVE
SLOANE AVE
QU
EEN’S G
ATE QU
EEN’S G
ATE ON
SLOW
GRDN
S SELWO
OD TERR ACE O
LD CHURCH ST
C R O M W E L L R D A 4 C R O M W E L L R D A 4
A3220
FULHAM RD
A308
O L D B RO M PTO N R D
A32 1 8 O L D B RO M PTO N R D
THU R LO E P L
S O U T HK E N S I N GTO N
G LO U C E ST E RROA D
N AT U R A L H I STO RYM U S E U M
N ot to scale: for identif ication purposes only
h a r r i n g t o n C o U rt
London
MAYFAIR LONDON EYE
BUCKINGHAM PALACE
THE SHARDHYDE PARK
NATURAL HISTORY MUSEUM
HARRODS KINGS ROADBROMPTON CROSS
SOUTH KENSINGTON UNDERGROUND STATION
h a r r i n g t o n C o U rt
London
11
DESCriPtion
arEa SChEDULE
Harrington Court comprises 7-19 Harrington Road and 8-14 Glendower Place and is built over basement, ground and five upper levels under a mansard tiled covered roof. The property dates from the late Victorian period and benefits from an attractive red brick facade, balconies and double glazed sash windows. Two eight person lifts serve all levels from basement to fifth floor and were both installed in 2005.
The heating and air conditioning systems are combined, with individual units in each apartment. There is no centralised heating or air conditioning system. The individual systems in the apartments are connected to a bank of condensers located on the roof.
There are a total of 49 apartments within the building, 33 of which benefit from a short term letting planning designation, whilst 16 have a residential (C3) planning use. 15 of the short let apartments benefit from the ability to be subdivided. The principal entrance and reception for the apartments is located on Harrington Road. The Net Internal Area of the 49 apartments is 31,489 sq ft (2,925.63 sq m).
All of the apartments are available with vacant possession with the exception of two. Notices seeking possession have been served in respect of apartment 501. The occupier of apartment 410 has vacated and the receivers are seeking return of the keys. Alternatively, proceedings will be instigated if this is not successful.
The retail units are located on the ground and basement levels of both Harrington Road and Glendower Place. The NIA of the 12 units is 4,856 sq ft (451.14 sq m).
The total site area is approximately 0.231 acres [0.0934 hectares].
6.8m
7.4m
LB
LB
TCBs
LB
Line Of Posts
TCB
GLENDOWER PLACE
BUTE STREET
KENDRICK MEW
S
REECE MEW
S
QU
EENSBER
RY W
AY
RO
MW
ELL M
EWS
PELHAM
HARRINGTON ROAD
KENDRUnderground Railway
26
Zetland
12
4
2018
13
1
1312 Hoop and
10a11a
41
39
34
8
2
Court Hotel
36
1 to 13
113
1
Hotel
1
6
30
29
32
7 to 19
9
28
22
5 to
13
15 to
17
48
Mansions
Harrington Court
Hotel
1 to
21
6
43
Egerton
23 to 2562
34
2
1 to 41
2 to 10
Toy
28
24
Cromwell
25
Court
3
1 to 80
47
4Jerom
e House
11
3
27
15
1 to
5
14
45
32
Melton Court
PO
2127
15
18
20
14
17
7 to 10
(PH)
4446
42
Arms
(PH)
48
46
12a
34
2
2225
14to
Lycee Francais
36 to 40
1 to
9
30
31
15
2 to
1212 to 14
14
40
16
23
11
Glendower
44
15a
14
1to
19
8
4
Queensberry
Sou
th K
ensi
ngto
nS
tatio
n A
rcad
e
17
Bank
3
5
9
10
Cycle Hire Station
AirShafts(cov)
10
29 to 37
Petersham House1 to 35
30
Floor Accommodation
Area Schedule
Building GIA
Sq ft Sq m
5th 2 x three bedroom apartments, 4 x two bedroom apartments 6,612 615
4th 4 x two bedroom apartments, 2 x one bedroom apartments, 4 x Studios 7,978 741
3rd 4 x two bedroom apartments, 2 x one bedroom apartments, 4 x Studios 7,980 741
2nd 3 x two bedroom apartments, 3 x one bedroom apartments, 4 x Studios 7,883 732
1st 3 x two bedroom apartments, 3 x one bedroom apartments, 5 x Studios 8,142 756
Ground 12 retail units, 1 x two bedroom apartment 8,886 826
Basement 1 x two bedroom apartment, commercial and ancillary acommodation 10,607 985
Total 58,088 5,397
NOTE:- Reproduced from the O rdnance Sur vey M ap with the permis s ion of the Controller of H . M . Stationer y Of f ice. © Crown copyright l icence number 1 0 0 02424 4 Savil ls (U K) Ltd .
NOTE:- Publis hed for the purposes of identif ication only and although believed to be correct accuracy is not guaranteed .
A full measured survey has been undertaken by Engineering Land & Building Surveys Ltd. This survey will be assigned to the purchaser.
13
SErViCED aPartMEntSLondon is one of the world’s leading leisure and business destinations and with a huge diversity of demand drivers, attracts in the region of 30 million overnight visitors every year. However, in spite of the city’s global importance, the supply of serviced apartments is limited compared to its global counterparts. For example, New York and Hong Kong have 5.7 and 5.3 serviced apartment units per 1,000 business visitors respectively whereas London has only 1.6 units per 1,000 overseas business visitors.
Average apartment rates continue to increase with a 3.6% year-on-year growth reported in Q213 with RevPAA (Revenue per Available Apartment) up 4.8% over the same period. With future supply to remain constrained and the continuing improvement in overseas business visitor numbers, this upward trend in rates and occupancy is expected to continue.
Harrington Court benefits from close proximity to many of London’s premier tourist attractions, whilst also being easily accessible from the city’s centres of business.
Within the South Kensington submarket, there is a relatively limited number of serviced apartments providing accommodation at the 4* or above standard. There is therefore strong potential to improve Harrington Court’s existing standard of accommodation and provide a higher quality of product to a market with limited competition.
Go Native were appointed in June 2013 and have prepared the projected future trading performance below based on a unit count of 49. For the projections it is assumed that the condition of the apartments is ‘as is’ and have not benefited from any major refurbishment works.
On completion of the sale, Go Native’s interim management contract can be terminated with one month’s notice.
*Go Native have prepared these numbers on the basis of a fee of 15% of Total Revenue achieved through a combination of base fee and profit share.
Year 1 Year 2 Year 3 Year 4
Occupancy 83% 85% 87% 87%
Average Room Rate (£) 174 183 192 202
Total Revenue (£) 2,589,038 2,783,988 2,991,867 3,150,161
Operating Costs (£) 465,295 478,718 495,976 510,855
Gross Operating Profit (£) 2,123,743 2,305,270 2,495,891 2,639,306
Total Management Costs (£)* 401,484 437,118 474,379 502,318
Sinking Fund (£) 51,781 55,680 59,837 63,003
Insurance (£) 25,890 27,840 29,919 31,502
Total Deductions (£) 479,155 520,638 564,135 596,823
EBITDA (£) 1,644,588 1,784,632 1,931,756 2,042,483
Room Type Number of Units % of total
Studio 17 35%
1 Bed 10 20%
2 Bed 20 41%
3 Bed 2 4%
Total 49 100%
14
PO
Underground
C A MCMILLAN
NATWEST
MALVERNSSCOOP
INSTITUTE FRANCAIS CHILDREN`S LIBRARY
BANGKOK
GLO
BA
LN
EW
S
DA SPAGO
ST
ILET
TO
S
DM
CK
AY
NAILBERRY
GAIL`S
INTERNATIONAL
FIT
NE
SS
FIR
ST
WAFFLEMEISTER
RBI
SHIKARA
MOXON`S
INTERIORS
SO
UT
HK
EN
SIN
GT
ON
KENTRONIC
BONNE BOUCHE
ABBOT
CIT
IBO
X
BILLY
S
MIS
SE
LLIE
`S
RAISON D`ETRE
HARLEY`S
PHARM
ACY
CAR
LUC
CIO
`S
SP
EN
CE
RC
LINIC
PR
ET
AM
AN
GE
R
PA
UL
SHIRT
STREAM
SALLY PARSONS
MALIBU BUTE
MP
TO
IR
BA
NA
IS
MURIEL`SKITCHEN
JIA
NAILSPA
DOUGLAS &
GORDON
HA
RR
ING
TO
NS
LON
DO
N
STICKLANDPHARMACY
MOTI MAHAL
FLIG
HT
CE
NTR
E
SA
NT
I SK
INS
PA
LON
DO
N
ODDONO`S
RENZAKI
FRENCH
BOOKSHOP
SCRIBBLER
BISTRO CELEBRE
POST
OFFIC
E
MPBELL`S
LITT
LEJA
PA
N
CA
FE
MIL
AN
FLO
RIS
TH
AI T
HE
RA
PY
CLIN
IC
LIBR
AIR
I ELA
PA
GE
FR
EN
CH
SU
BW
AY
OCTAVIA
NDATION
LABR
IOCH
E
CH
IME
SM
US
IC
THE HOOP
& TOY
GE
SS
LER
AT
DA
QU
ISE
SO
LELU
NA
PIZZ
A&
PA
STA
KE
IKO
SU
SH
I
GRANGERSFISHING TACKLE
QU
AT
RE
SA
ISO
NS
BLOOMSPA
FIN
LAY
S
BO
UJIS
LANGUAGE LINK
SCHOOL OF
ENGLISH
ROTISSERIE
BUTE STREET
HE BIRD
TANNING SHOP
MAD
SEN
D`NOMYAR
TREATS
KH
AN
`S
BO
NA
NZ
A
CREME DELA CREPE
PERFECT PIZZA
BOXES
ETCWILLIAM
HILL
FOTOFAST
LA GRANDE
BOUCHEE
HEALTHC
RAZE
ELG
AUCHO
NATURAL
HEALTH
CENTR
EF
RE
SH
JOY
PIZ
ZE
RIA
RO
MA
NA
HA
RR
ING
TO
N
GALLOPS
HADLOWS
TRINITY HOSPICE
RENE
AUBREY
ME
DIC
I
CO
TT
AG
ED
ELI
GH
T
FIRMDALE HOTELSM
IDD
LET
ON
JEF
FE
RS
TIMPSON
THE
ZETLAND
ARM
S
GLOBAL TALK
BISTRO FIFTEEN
ELIAS
ST
AR
BU
CK
S
BE
AN
EY
PE
AR
CE
BALANC
E
FOO
D&
WIN
E
LA CAVE AFROMAGE
CH
OP
ST
IX
NO
OD
LEB
AR
SNAPPY
SNAPS
RB
S
BE
N`S
CO
OK
IES
PR
ON
TA
PR
INT
LAM
BO
RG
HIN
I
LON
DO
N
ART GAL (RET)
VA
CA
NT
OF
FIC
E
I/CREAMPARL
VACANT
THAI
RESTAURANT
N/A
EUROPEAN REST
CLO
TH
ING
GG
RO
BEAUTY SALON
BAKER
HAIRDRESSING
HE
ALT
HC
LUB
BAKER
ESTATE AGENT
INDIAN REST
OFFICE
FISHMONGER
CARP & FL
BO
OK
S
HOME ENT
BAKER
OPT
BU
SS
ER
V
RE
ST
AU
RA
NT
CA
FE
CAFE
SUSHI SHOP
OF
FIC
E
HE
ALT
HC
EN
TR
E
VA
CA
NT
BA
KE
R
D/C
L/WR&M/W
R
CAFE
CA
FE
BANK
CH
INE
SE
RE
ST
BEAU SAL
EST AG
GIF
TS
ESTATEAGENT
INDIAN REST
OF
FIC
E
HA
IRD
RE
SS
ING
I/CREAM
PARL
D/C
BOOKS
CARDS
CAFE
ART
GAL
(RE
T)
JAP
AN
ES
E
RE
ST
VACANT
CA
FE
NA
TU
RA
LT
HE
RA
PY
FLOR
S/W
BA
R
AMPAR
L
CAFE
PUBLICHOUSE
MID
EA
ST
RE
STITA
LIAN
RE
ST
JAP
AN
ES
ER
ES
T
OF
FIC
E
VACANT
CA
FE
HEALTH CLUB
WA
SA
BI
NIG
HT
CLU
B
VA
CA
NT
FRENCH REST
SOLARIUM
EUR
OPEAN
REST
INT DECOR
TAKEAWAY
IND
IAN
RE
ST
CO
NV
ST
O
CONF & BIS
TAKE AWAY
ITAL
IAN
RES
TAU
RAN
T
SA
ND
WIC
HB
AR
BETTINGO
FFICE
FILM DEV
DELICATESSEN
HEALTHFO
OD
AMERICAN
REST
HEALTH
FD
HA
IRD
RE
SS
ING
OPT
PIZ
ZA
RE
ST
NIG
HT
CLU
B
SING
ATM
TRAVELGOODS
JEWELLER
CHARITY SHOP
HA
AR
TG
AL
(RE
T)
TA
KE
AW
AY
EM
PLO
YM
EN
TA
GE
NC
Y
SHOE REP
PUBLIC
HO
USE
INT CAFE
EUROPEAN REST
D/C
CO
FF
EE
SH
OP
AG
EN
T
NATU
RAL
THER
APY
CO
NV
STO
DRY PROD
CH
INE
SE
RE
ST
FILMDEV
BA
NK
BRITISHREST
PR
T&P
HC
PY
CA
RS
ALE
S
BUSINESS
SERVICES
EDUCATIONAL
ESTABLISHMENT
CT
N
SPORTS GOODS
RE
CO
RD
ING
S
SHOP
BK
S
TRA
VA
G
10- 12
2917
-18
25
16
10
7- 9
11
6
1719A
19
45
23
2 - 10
26
2A
2621
8- 10
17
13
22
23
22
13
2
24
36
18
35 - 37
27
1 - 7
31
11A
41
5
15
29
1-
5
15 - 17
1
20
25 - 27
15
4-
6
3
37
33
14
12- 14
28
2A
24
41
32
23
5
39
1- 3
30
40
9
34
20
34
7A
35
25
7
27
21
43
19
6- 8
3
47
5
20 - 22
11
5
3
7-
11
23
12
9
32
1
31
24 - 26
30
36 - 38
15
4-
8
29
17A
46
14
15
16
39
26
15
29
2
2
42- 44
21
16- 17
19
28
33
38 - 40
24-
25
28
34 29 - 31
6
11
25 - 27
BUTE
STREET
ONSLO
WSQ
UARE
WS
LAC
E
HARRINGTON ROAD
SO
UT
HK
EN
SIN
GT
ON
ST
AT
ION
AR
CA
DE
QU
EE
NS
BE
RR
YW
AY
THURLOE STREET
PELHAM STREE
GLEN
DO
OLD BROMPTON ROAD
MELTON COURTW
ERPLAC
E
UNDER
&
&
ENT
ENT
ENT
ENT
ENT
ENT
ENT
EN
T
EN
TR
AN
CE
DWELLINGS
ENT
NG
S
ENT
ENTENT
EN
TR
AN
CE
DW
ELLING
S
ENT24
5- 13
26
2
18
8
4
13
SOUTH KENSINGTONrEtaiLThe Central London retail occupational and investment markets have continued to show remarkable resilience to the global downturn and, over the last four years, have been one of the best performing asset classes in the property industry. This performance has primarily been driven by the strength of London’s West End where the diverse mix of retail offerings has continued to attract a wealthy mix of international shoppers. Many of the highest spenders come from the Gulf States, Russia, China and Brazil where import duties on luxury goods are high. Combined with a favourable currency exchange rate, this makes shopping in London a cost effective option.
The success of the core West End retail market has also been replicated in the affluent locations of Knightsbridge. Streets such as Brompton Road, Sloane Street and the area around Brompton Cross benefit from strong occupational demand from high end retailers looking to position themselves in these affluent catchment areas.
The area around South Kensington / Brompton Cross has been one of the top performing sub markets in Central London over the past 24 months. In particular, there have been a number of recent deals which reflect a specific demand from upmarket fashion boutiques, including the following:g ACNE letting at Brompton Cross. Following a surrender and
re-grant of a new lease, the Zone A was increased from £125 psf to £265 psf.
g Carolina Herrara (previously Cluttons). The lease on this property was surrendered when it reflected a rent of £200 ZA. The lease was subsequently openly marketed and received a total of 15 bids from luxury retailers, finally achieving £400 ZA, together with a £400,000 premium.
Whilst the luxury retail market is fuelling the growth of Brompton Cross , the area around South Kensington Underground Station and the subject property is benefitting from a natural knock on effect with many retailers looking for representation in this pitch.
Harrington Court’s current average Zone A rent is £55 per sq ft. This is a substantial discount to the local vicinity and offers excellent rental growth prospects . It is our belief, that through achieving vacant possession of the property’s retail units, there is significant potential upside from improving the tenant mix and generating higher rents.
Prime rents in the imediate area are being achieved on Old Brompton Road, directly opposite the Underground station. The block known as Melton Court is currently achieving Zone A rents in excess of £200 per sq ft Zone A.
Recent evidence includes:g 21 Old Brompton Road - This is a recent open market letting
where Wasabi agreed a new rent in excess of £200 per sq ft Zone A.
g 72 Old Brompton Road - Vini Italiani agreed an open market letting in April 2011 at £141 per sq ft Zone A.
An overview of the current retail tenancy schedule is provided overleaf. The receivers have not marketed any of the vacant units, thereby allowing the purchaser to implement an immediate asset management strategy.
Reproduced by permission of Experian Goad - licence no. PU100017316. Not to Scale - For Identification Purposes Only.
16 17
rEtaiL tEnanCY SChEDULE
Address Tenant AccommodationFloor Area Lease Terms Current Rent
CommentsSq Ft Total ITZA Lease Start Lease Term Lease Expiry Total ITZA psf
7 Harrington Road Ronald Shepping t/a Librairie La Page
Ground Floor (Retail) Basement (Retail)
515 322 837 342 Sep-03 15 years Sep-18 £17,000 £50.00 Protected by the LTA 1954 Act
Outstanding rent review 29/09/13
7a Harrington Road Keiko Sushi Ground Floor Basement
444 534 978 330 Sep-00 10 years Sep-10 £21,000 £64.00 Suspected illegal occupation*
9 Harrington Road Kensington Chimes Limited t/a Kensington Music
Ground Floor Basement
684 641 1325 444 Mar-03 15 years Sep-18 £25,285 £57.00 Protected by the LTA 1954 Act
Outstanding rent review 25/03/13
11 Harrington Road Vacant Ground Floor Basement
269 276 545 243 - - - - - Vacant Possession order obtained*
11a Harrington Road Vacant Ground Floor Basement
744 355 1099 405 - - - - - Vacant Possession
15 Harrington Road Harrington Jewellers Ground Floor Basement
273 320 593 259 Oct-99 10 years Oct-09 £12,690 £49.00 Suspected illegal occupation*
15a Harrington Road Francois Bellas t/a Fresh Hairdressers
Ground Floor Basement
546 306 852 346 Dec-01 - Nov-10 £23,750 £69.00 Tenant holding over
17 Harrington Road Elza Gonzales Diaz t/a Kopla
Ground Floor Basement 298 - 238 Sep-05 10 years Sep-15 £15,000 £63.00 Protected by the LTA 1954 Act
Outstanding rent review 02/09/10
17a Harrington Road Reamex Enterprises Limited Ground Floor Basement
216 1,374 1590 - Jun-06 15 years Jun-21 £15,000 £9.00 (overall) Protected by the LTA 1954 Act
19 Harrington Road Vacant Ground Floor Basement Storage
211 212 423 232 - - - - - Vacant Possession
19a Harrington Road D Mckay (Frulterers) ltd Ground Floor Basement
238 185 423 257 Dec-87 21 years Dec-08 £14,000 £55.00 Tenant holding over
12/14 Glendower Place Nasim Ahmed t/a Renzacci
Ground Floor Basement
418 627 1045 462 Jan-02 10 years Jan-12 £20,000 £43.00 Tenant holding over
Renewal negotiations ongoing
O2 Telephone Mast O2 (UK) Limited Roof Space - - - Feb-01 5 years Feb-16 £7,000 - Outside the LTA 1954 Act
Total 10,008 3,558 £170,725
*Full details on the data room
18
PLanning anD rEDEVELoPMEnt PotEntiaL The property is located within the Royal Borough of Kensington and Chelsea but is neither listed nor located within a designated Conservation Area. The building presently consists of 33 serviced apartments and 16 C3 residential units.
The Borough planning policy does not seek to protect short lets and temporary sleeping accommodation. The property has historically benefited from a C3 residential use and accordingly, there is the potential to change the use of the serviced apartments back to residential, subject to achieving the necessary consents.
In addition to the change of use and refurbishment of the 33 serviced apartments, there is also scope to increase the building height through an additional floor of residential. Any such extension would need to be sensitively designed; however, the principle is considered to be acceptable as the building is
not located within a Conservation Area or an area designated as being unsuitable for roof extensions. This extension is proposed in lieu of the extensive amounts of plant and machinery, which is presently accommodated at roof level and could be rationalised as part of any redevelopment. A planning appraisal has been prepared by Savills and a conceptual scheme by Brimelow McSweeney Architects to demonstrate this opportunity. Both documents can be either downloaded from the data room or obtained directly from the Selling Agents.
MEthoD oF SaLEThe property is for sale by private treaty. The upper parts are being sold with the benefit of vacant possession, aside from one apartment, with the retail element being sold subject to the occupational tenancies where applicable.
tEnUrEFreehold.
VatWhere VAT is applicable, it is envisaged that the sale will be transacted as a TOGC.
2120
SELECtED FLoor PLanS
APRT406 APRT
404
APRT407
APRT409
APRT410
APRT408
APRT406
APRT405
APRT403
APRT401
APRT102
APRT104
APRT106 APRT
108
APRT110
APRT111
APRT109
APRT107
APRT105
APRT103
APRT101 APRT
501APRT502
APRT504
APRT506
APRT505
APRT503
GROUND FLOOR FOURTH FLOOR
FIRST FLOOR
HARRINGTON ROAD HARRINGTON ROAD
GLENDO
WER PLACE
GLENDO
WER PLACE
GLENDO
WER PLACE
GLENDO
WER PLACE
HARRINGTON ROAD HARRINGTON ROAD
FIFTH FLOOR
Full floorplans are available on the data room. Full floorplans are available on the data room. Not to scale: for identif ication purposes onlyNot to scale: for identif ication purposes only
22
Important NoticeSavills and BNP Paribas Real Estate and their clients give notice that: 1. They are not authorised to make or give any representations or warranties in
relation to the property either here or elsewhere, either on their own behalf or on behalf of their client or otherwise. They assume no responsibility for any statement that may be made in these particulars. These particulars do not form part of any offer or contract and must not be relied upon as statements or representations of fact.
2. Any areas, measurements or distances are approximate. The text, images and plans are for guidance only and are not necessarily comprehensive. It should not be assumed that the property has all necessary planning, building regula-tion or other consents and Savills have not tested any services, equipment or facilities. Purchasers must satisfy themselves by inspection or otherwise.
Brochure designed and produced by Savills MarketingOctober 2013
FUrthEr inForMationThe following supporting information can be found at:
www.savills.com/hc g Title plansg Tenancy scheduleg Floor plans and area scheduleg Commercial leasesg Building Surveyg EPCsg Planning appraisalg Conceptual redevelopment scheme
EPCEnergy performance certificates are available for the complete property and can be found on the data room.
PriCingOn the instructions of B Moon and J Pitt of BNP Paribas Real Estate acting as Joint Fixed Charge Receivers, offers are sought for the freehold interest.
ViEWingSAll viewings are by appointment only through the joint agents.
ContaCtSMichelle WebbHotel Investment +44 (0) 20 7409 [email protected]
Jonathan O’Regan Central London Investment +44 (0) 20 7409 [email protected]
Andrew Boyd Residential Development +44 (0) 20 7409 [email protected]
Archie HunterHotel Investment +44 (0) 20 7409 [email protected]
Steven Cooper Residential +44 (0) 20 7338 [email protected]
Adam Renn West End Investment+44 (0) 20 7338 [email protected]
Tim Hugill West End Investment +44 (0) 20 7338 [email protected]
Gregor Wallace West End Investment +44 (0) 20 7338 [email protected]
h a r r i n g t o n C o U rt
London