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Marylebone

Marylebone Car Park, Marylebone Road NW1, Marylebone Road, NW1 5AR

Availability (1)

47,000 Ft2

£8,930,000

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  1. Information
  2. Map
  3. Area & Transport
  4. E.P.C
  5. Other Documents
  1. Introduction

    Long-Let Well-Secured RPI Linked Income In Prime Location.

    Description

    Planning Usage: (uses which do not fall within the specified use classes above)

    • Prominent and visible situation on the busy junction of Marylebone Road (A501 Westway) and Gloucester Place (A41);

    • Ideally located just outside of the Congestion Charge Zone;

    • Virtual Freehold (new 999-year interest) at a peppercorn ground rent;

    • Well secured income, let to S&K Car Park Management Ltd (t/a NCP) with a surety from Secure Parking Pty Ltd on a 35-year FRI lease from 1st August 2018, expiring 31st July 2053;

    • Passing rent £420,240 per annum, with annual RPI linked rent reviews (subject to a minimum increase of 2% per annum, and a maximum increase of 4% per annum). Next review is August 2021, vendor will top-up to the minimum rent, which is £428,645 pa;

    • Accommodation comprises c. 47,000 sq ft (GIA) which is situated over two lower ground floors, accessed from an entrance off Marylebone Road and an exit onto Glentworth Street;

    • Currently demised as 122 marked spaces with additional car wash facility, electric charging points, motorcycle and bike storage compound;

    • The car park was comprehensively refurbished in 2018 with new floor surface and markings, new LED lighting and extraction, new office, CCTV etc;

    • Offered at an extremely low capital value of only £190 per sq ft, the asset is also suitable for a range of alternative uses (STPP) such as leisure, storage, ‘last-mile’ storage or a ‘dark kitchen’.

    Availability (1)

    FloorSize (Ft2 | M2)Price (sale | /Ft2)Planning UsageStatus
    Lower Ground47,000£8,930,000Sui GenerisAvailable
    Total / Avgs.47,000£8,930,000
  2. Location

    Marylebone Car Park, Marylebone Road NW1,
    Marylebone Road,
    London NW1 5AR

  3. Transport

    Marylebone
    Hammersmith & City, Bakerloo, Circle
    Baker Street
    Bakerloo, Metropolitan, Circle, Jubilee, Hammersmith & City
  4. Other Documents

MISREPRESENTATION ACT — These particulars do not form part of any offer of contract. They are issued as a general guide, but do not constitute representation of fact. Parties should satisfy themselves as to their accuracy. Unless otherwise stated, all prices/rents are quoted exclusive of vat. All terms and information provided is subject to contract & without prejudice.