south - savills

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S O U T H 4 7- 6 9 N O T T I N G H I L L G A T E

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S O U T H


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Unbroken freehold parade with over 75 metre frontage on a 0.23 acre site

The property forms the prime section of the Notting Hill Gate retail pitch and comprises 9 double and single fronted retail units together with office accommodation on two upper levels totalling 25,534 sq ft

Notting Hill Gate forms the arterial thoroughfare that links the world renowned Kensington, Holland Park, Notting Hill and Hillgate Villages

These districts comprise London’s most exclusive and high value housing and support a diverse and high quality cultural and amenity base

Royal Borough of Kensington & Chelsea has the highest average property prices in the United Kingdom

70% of the borough by area comprise Conservation Areas and new development opportunities are highly limited

Executive SUMMARY

Current overall rent of £1,091,745 with an average unexpired lease term of 4 years

Retail held under 9 leases to 8 tenants with a weighted unexpired term of 4.1 years

Offices leased to a single tenant at an average overall rent reflecting only £22.50 per sq ft

The Council has identified the subject property in a special Supplementary Planning Document designated to encourage development and an indicative scheme to add 5,274 sq ft has been outlined

This opportunity provides immediate, medium and long term asset management initiatives that have the potential to add significant value

Offers in excess of £33 million are sought for the freehold interest, subject to contract. A purchase at this level would reflect a net initial yield of 3.13% and an equivalent yield of 4.16% after the deduction of purchasers costs of 5.80%

The freeholder will also consider a sale of the Jersey Property Unit Trust that holds the assets

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4 7- 6 9 N O T T I N G H I L L G A T E R E P R E S E N T S A R A R E O P P O R T U N I T Y T O A Q U I R E A P R I M E F R E E H O L D M I X E D U S E A S S E T W I T H S I G N I F I C A N T D E V E L O P M E N T P O T E N T I A L


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LOCATIONNotting Hill Gate forms part of the main arterial route between Holland Park and Mayfair, whilst also forming the border to both the world renowned London Villages of Notting Hill and Kensington.

The Royal Borough of Kensington and Chelsea is one of the most exclusive boroughs in London. The borough is internationally renowned for some of the finest hotels, restaurants and residences in the world. Occupying an area of only 12 square miles, it is the smallest of the London boroughs but is home to many of London’s most influential and affluent residents.

The area is well know for its affluence. The borough has the highest average house prices in the UK and has recorded the highest earnings per household. It is also the country’s most populous local authority, with more than 13,000 people per square kilometre occupying some of the most valuable real estate in the world.

As well as being one of the most desirable places to live and work the borough is a leading tourist destination. Visitors are a significant driver of the local economy, with over £3 billion spent by non-residents. The Royal Borough is home to London’s ‘Museum Quarter’. The Natural History, Science and Victoria & Albert Museums are all in South

Kensington, where Kensington Palace and the culturally significant Serpentine Galleries can also be found. Aside from the annual Serpentine Pavilion, visitors and residents will also soon be welcoming the Design Museum to Kensington & Chelsea in Holland Park in 2016.

Annual events such as the Chelsea Flower Show, the Notting Hill Carnival and the open air Opera in Holland Park reflect the broad variety of the boroughs diverse social appeal.

A combination of local wealth and both domestic and international tourist appeal ensures the local environment commands high levels of retail, restaurant and leisure amenity.

A S W E L L A S B E I N G O N E O F T H E M O S T

D E S I R A B L E P L A C E S T O L I V E O R W O R K

T H E B O R O U G H I S A L E A D I N G T O U R I S T

D E S T I N A T I O N

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The Royal Borough is home to some of the world’s most renowned and exclusive shopping districts, with the iconic Portobello Road in the North and Knightsbridge to the south of Notting Hill Gate. The area also supports a wealth of small stores and unique merchants, adding to the character and village feel. These range from specialist antiques shops on Kensington Church Street, farmers market on Kensington Place, the chic boutiques on Westbourne Grove and the high street retail units along Notting Hill Gate.

Excellent communications, the rich cultural village environment and high quality retail offer have attracted a loyal and expanding business community. Approximately 18,000 businesses are based in the Royal Borough and some 120,000 people are employed across all business types with Business Services, Hospitality, Real Estate, Medical, and Personal Services being the most significant employment sectors.

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OD

LN A

219

HOLLAND PARK AVE

BAYSWATER RD

KENSINGTON HIGH STREET A315 KENSINGTON RD A315

LAD

BROKE G

ROV

E

KENSIN

GTO

N C

HU

RC

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PEM

BRID

GE

ROAD

WESTBOURNE GROVE

CA

RRIAG

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E

SUSS

EX GARDENS

B412

INV

ERNESS TERRA

CE

QU

EENSW

AY

A41 PA

RK STN

AU

DLEY

ST

SEYMOUR ST

A5204

GEORGE ST

CRAWFORD ST

SEYMO

UR PL

KENSIN

GTON PARK ROAD

KENSIN

GTO

N PA

LACE G

ARD

ENS

OXFORD STREET

PORTO

BELLO ROAD

HOLLAND ROAD

W C

ROSS RTE

WESTWAY A404 WESTWAY

EDGWARE RD

W

ESTWAY

W

ESTWAY

BROMPTON ROAD

KNIGHTSBRIDGE

PARK LAN

E

PARK LANE

NOTTING HILL

KENSINGTON

HOLLAND PARK

KENSINGTONGARDENS

LADBROKESQUARE

HYDEPARK

THE SERPENTINE

SERPENTINEGALLERY

ROYAL ALBERTHALL

KENSINGTONPALACE

SHEPHERDS BUSH

LADBROKE GROVE

HOLLAND PARK

HIGH STREET KENSINGTONKNIGHTSBRIDGE

HYDE PARK CORNER

MARBLE ARCH

PADDINGTON

ROYAL OAK

BAYSWATER

QUEENSWAY

NOTTING HILL GATE

LANCASTER GATE

KENSINGTON

S O U T H

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L O N D O N W 1 1

Connectivity

N O T T I N G H I L L G A T E U N D E R G R O U N D P R O V I D E S E X C E L L E N T A C C E S S T O T H E R E S T O F L O N D O N V I A C E N T R A L , D I S T R I C T A N D C I R C L E L I N E U N D E R G R O U N D S E R V I C E S A N D S E R V E S O V E R 1 7 M I L L I O N P A S S E N G E R S E A C H Y E A R

Notting Hill Gate Underground provides excellent access to the rest of London via Central, District and Circle Line Underground services. The station which caters to 17 million users a year has an entrance and exit point immediately in front of the Property.

The station is well connected within ten minutes to the new Crossrail station currently under construction at Bond Street (Jubilee and Central lines) and Paddington. This exciting new project, due to open in 2018, will provide access to Heathrow Airport in 33 minutes and Canary Wharf in just 12 minutes. The property is also situated less than a ten minute walk from Holland Park Tube station (Central line).

As a part of the strategic road network the Property sits on a main north/south and east/west axis with frequent bus connections to Marble Arch, Kensington, Knightsbridge, Shepherd’s Bush and Ladbroke Grove via Notting Hill Gate, Holland Park Avenue, Pembridge Road & Kensington Church Street.

Paddington Station is situated just over a mile away, and provides direct access to national overground train lines and the Heathrow Express. In addition, numerous bus routes pass along Notting Hill Gate and Kensington Church Street.

WO

OD

LN A

219

HOLLAND PARK AVE

BAYSWATER RD

KENSINGTON HIGH STREET A315 KENSINGTON RD A315

LAD

BROKE G

ROV

E

KENSIN

GTO

N C

HU

RC

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PEM

BRID

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CA

RRIAG

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SUSS

EX GARDENS

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CE

QU

EENSW

AY

A41 PA

RK STN

AU

DLEY

ST

SEYMOUR ST

A5204

GEORGE ST

CRAWFORD ST

SEYMO

UR PL

KENSIN

GTON PARK ROAD

KENSIN

GTO

N PA

LACE G

ARD

ENS

OXFORD STREET

PORTO

BELLO ROAD

HOLLAND ROAD

W C

ROSS RTE

WESTWAY A404 WESTWAY

EDGWARE RD

W

ESTWAY

W

ESTWAY

BROMPTON ROAD

KNIGHTSBRIDGE

PARK LAN

E

PARK LANE

NOTTING HILL

KENSINGTON

HOLLAND PARK

KENSINGTONGARDENS

LADBROKESQUARE

HYDEPARK

THE SERPENTINE

SERPENTINEGALLERY

ROYAL ALBERTHALL

KENSINGTONPALACE

SHEPHERDS BUSH

LADBROKE GROVE

HOLLAND PARK

HIGH STREET KENSINGTONKNIGHTSBRIDGE

HYDE PARK CORNER

MARBLE ARCH

PADDINGTON

ROYAL OAK

BAYSWATER

QUEENSWAY

NOTTING HILL GATE

LANCASTER GATE

KENSINGTON

Not to scale - for identification purposes only


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P R E T A M A N G E R , E A T & B O O T S 6 1 - 6 7 N O T T I N G H I L L G A T E

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T U B E S T A T I O N S I T S I M M E D I A T E LY I N F R O N T O F T H E P R O P E R T Y


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NOTE:- Reproduced from the Ordnance Survey Map with the permission of the Controller of H.M. Stationery Office. © Crown copyright licence number 100024244 Savills (UK) Ltd. NOTE:- Published for the purposes of identification only and although believed to be correct accuracy is not guaranteed.

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34.2m

CE

GATE

CA

MPD

EN

HILL P

LAC

E

HILLSLE

IGH

RO

AD

NOTT ING HILL

63a

5

7

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24

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5

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SITUATIONDavid Game House, 47-69 Notting Hill Gate occupies a prominent freehold site on the south side of this strategic east to west link immediately adjacent to the Notting Hill Gate Underground station.

The Notting Hill Gate retail market forms a 750 metre pitch on both north and south sides of the street and is underpinned by the Underground Station. This provides access to the Central, District and Circle Lines and serves over 17 million users a year.

Large sections of the street, including the subject property, were redeveloped in the late 1950s to provide mixed use properties and as a consequence retail is functionally arranged across well proportioned units. Local retail demand has also encouraged uses to expand into connecting streets, notably Kensington Church Street to the south and Pembridge Road, and these provide notable secondary pitches to the main retailing destination.

Retailing at Notting Hill Gate comprises around 100 units and is anchored by three food retailers Tesco, Marks & Spencer and Waitrose. Other key retailers include Boots, Recipease and Pret a Manger. Local retail draws its catchment from Notting Hill, Kensington, Hillgate Village and Holland Park. These are all highly affluent areas comprising some of London’s highest value properties arranged near to public and private parks and gardens.

T H E 0 . 2 3 A C R E S I T E S I T S I M M E D I A T E LY A D J A C E N T T O N O T T I N G H I L L G A T E U N D E R G R O U N D S T A T I O N A N D P R O V I D E S A 7 5 M E T R E F R O N T A G E

Non-sales functions are complemented by the Gate Club, Coronet Cinema and the Gate Theatre, which provides further diversity and amenity to this culturally significant area.

Notting Hill is a popular location for office occupiers as it offers excellent accessibility, a wide ranging retail offer and an attractive rental discount to the West End. Due to Kensington and Chelsea’s tight planning controls supply remains constrained, with overall demand outstripping supply. Good quality offices are a rare commodity with few buildings offering the type and specification of accommodation required by tenants.

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RetailOCCUPIERS


Reproduced by permission of Experian Goad - licence no. PU100017316. Not to Scale - For Identification Purposes Only.

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L O N D O N W 1 1

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Description47-69 Notting Hill Gate, also known as David Game House, comprises a prominent island site of 0.23 acres on the southern side of Notting Hill Gate with a principle frontage 75 metres. The western boundary is defined by Hobson House. To the east lies an area of public realm in front of Newcombe House.

The holding consists a total of 25,534 sq ft and comprises an unbroken parade of 9 retail units at ground and first floors, with offices above.

The property is believed to have been constructed in the early 1960s. The principle construction is of reinforced concrete frames with concrete floors and roofs. Walls are for the most part masonry with a variety of finishes. Windows are single glazed with galvanised steel frames.

Retail - 47-67 Notting Hill Gate

Retail premises are located at numbers 47-67 Notting Hill Gate with the parade consisting of 9 double and single fronted units totalling 11,012 sq ft. These are generally provided with ground sales and first floor ancillary retail. The units benefit from prime frontage, clear glazed facades and well configured space.

Each of the retail units are in A1 use and are serviced from the rear.

Offices - 69 Notting Hill Gate

Office accommodation within the property is provided above the retail and is accessed from a dedicated entrance at 69 Notting Hill Gate. It comprises two floors of well configured office space totalling 14,522 sq ft.

The offices are used as a language school and the tenant benefits from a personal educational D2 use which reverts to offices on expiry of the lease.

The offices benefit from the following specification:

• 12 person passenger lift serving all floors

• Comfort cooling

• Suspended ceilings

• Male and female WCs on each floor

• Functional office floorplate.

4 7- 6 9 N O T T I N G H I L L G A T E I S

A 1 9 6 0 S M I X E D U S E O F F I C E A N D

R E T A I L P R O P E R T Y O F 2 5 , 5 3 4 S Q F T

H I G H LY S U I T E D F O R E X T E N S I O N A N D

R E D E V E L O P M E N T


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R E T A I L

O F F I C E

3rd Floor David Game College

2nd Floor David Game College

1st FloorCrispins Food &

WineCrispins Food &

WineCaffe Nero Calder Chemist Crussh

Boots the Chemist

Eat Pret a Manger Pret a Manger Office Entrance

GroundFrae Frozen

YogurtCrispins Food &

WineCaffe Nero Calder Chemist Crussh

Boots the Chemist

Eat Pret a Manger Pret a Manger Office Entrance

47 Notting Hill Gate

49-51 Notting Hill Gate


55-57 Notting Hill Gate







Stacking PLAN

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F i g 1

N O T T I N G H I L L G A T E T U B E E N T R A N C E


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TENANCY SCHEDULE

Address Tenant Lease Start Lease Expiry Next Review Review Pattern Break Date Rent Rent ITZA / PSF Rental Value ERV ITZA / PSF ITZA GF Total FF Total Total NIA 1954 Act Protected Comments

Retail

47 Notting Hill Gate Frae NHG Ltd 14/06/2010 13/06/2015 - - Rolling £60,000 £147.00 £85,000 £215.00 438 488 - 488 No Rolling mutual break on four months notice. Landlord pays a reducing penalty based on tenants fitting out cost if exercises break option.

49/51 Notting Hill Gate Bipin Chandra Chaturbhai Patel 25/12/1991 24/12/2016 - - - £123,500 £158.00 £170,000 £215.00 779.50 931 1,214 2,145 Yes Trades as Crispins. Includes 1st floor of 47 Notting Hill Gate.

53 Notting Hill Gate Nero Holdings Ltd 25/03/1993 24/03/2018 - - - £51,250 £158.00 £70,000 £215.00 328 328 538 866 Yes -

55/57 Notting Hill Gate Mahesh Amin 30/05/2007 29/05/2017 - - - £117,500 £158.00 £160,000 £215.00 747 757 1,321 2,078 Yes Trades as Calder Chemist.

59 Notting Hill Gate Crussh (Notting Hill) Ltd 18/12/2007 16/12/2022 17/12/2017 5 yearly - £65,000 £169.00 £85,000 £215.00 395 414 586 1,000 No -

61 Notting Hill Gate Boots UK Ltd 03/01/2014 02/01/2019 - - - £75,000 £202.00 £80,000 £215.00 368 418 601 1,019 No -

63 Notting Hill Gate Eat Limited 04/07/2007 03/07/2022 04/07/2017 5 yearly - £80,000 £180.00 £95,000 £215.00 445 518 661 1,179 No -

65 Notting Hill Gate Pret a Manger (Europe) Ltd 01/11/2000 24/12/2020 25/12/2015 5 yearly - £84,750 £158.00 £115,000 £215.00 517 659 672 1,331 Yes -

67 Notting Hill Gate Pret a Manger (Europe) Ltd 25/12/2004 24/12/2019 - 5 yearly - £108,000 £210.00 £110,000 £215.00 528 698 208 906 Yes -

Retail Sub Total £765,000 £970,000 4,545 11,012

Office

69 Notting Hill Gate David Game 25/12/2013 24/12/2018 - - 25/12/2016 £326,745 £22.50 £510,000 £35.00 - - - 14,522 No Fixed increase to £326,745 pax (£22.50 psf) on 25 March 2015. Lease subject to schedule of condition.

Office Sub Total £326,745 £510,000 14,522 -

Total £1,091,745 £1,480,000 25,534

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Address Tenant Lease Start Lease Expiry Next Review Review Pattern Break Date Rent Rent ITZA / PSF Rental Value ERV ITZA / PSF ITZA GF Total FF Total Total NIA 1954 Act Protected Comments

Retail

47 Notting Hill Gate Frae NHG Ltd 14/06/2010 13/06/2015 - - Rolling £60,000 £147.00 £85,000 £215.00 438 488 - 488 No Rolling mutual break on four months notice. Landlord pays a reducing penalty based on tenants fitting out cost if exercises break option.

49/51 Notting Hill Gate Bipin Chandra Chaturbhai Patel 25/12/1991 24/12/2016 - - - £123,500 £158.00 £170,000 £215.00 779.50 931 1,214 2,145 Yes Trades as Crispins. Includes 1st floor of 47 Notting Hill Gate.

53 Notting Hill Gate Nero Holdings Ltd 25/03/1993 24/03/2018 - - - £51,250 £158.00 £70,000 £215.00 328 328 538 866 Yes -

55/57 Notting Hill Gate Mahesh Amin 30/05/2007 29/05/2017 - - - £117,500 £158.00 £160,000 £215.00 747 757 1,321 2,078 Yes Trades as Calder Chemist.

59 Notting Hill Gate Crussh (Notting Hill) Ltd 18/12/2007 16/12/2022 17/12/2017 5 yearly - £65,000 £169.00 £85,000 £215.00 395 414 586 1,000 No -

61 Notting Hill Gate Boots UK Ltd 03/01/2014 02/01/2019 - - - £75,000 £202.00 £80,000 £215.00 368 418 601 1,019 No -

63 Notting Hill Gate Eat Limited 04/07/2007 03/07/2022 04/07/2017 5 yearly - £80,000 £180.00 £95,000 £215.00 445 518 661 1,179 No -

65 Notting Hill Gate Pret a Manger (Europe) Ltd 01/11/2000 24/12/2020 25/12/2015 5 yearly - £84,750 £158.00 £115,000 £215.00 517 659 672 1,331 Yes -

67 Notting Hill Gate Pret a Manger (Europe) Ltd 25/12/2004 24/12/2019 - 5 yearly - £108,000 £210.00 £110,000 £215.00 528 698 208 906 Yes -

Retail Sub Total £765,000 £970,000 4,545 11,012

Office

69 Notting Hill Gate David Game 25/12/2013 24/12/2018 - - 25/12/2016 £326,745 £22.50 £510,000 £35.00 - - - 14,522 No Fixed increase to £326,745 pax (£22.50 psf) on 25 March 2015. Lease subject to schedule of condition.

Office Sub Total £326,745 £510,000 14,522 -

Total £1,091,745 £1,480,000 25,534


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IncomeANALYSISMore than 30% of the income from the property is derived from the office accommodation let to the David Game College. The proportion of income within the block by is shown below:

David Game 29.9%

Pret a Manger 17.7%

Crispins 11.3%

Calder Chemist 11.8%

Eat 7.33%

All tenancies are held on effectively full repairing and insuring terms, with a weighted average unexpired term summarised as below:

Use Unexpired Term (yrs)

Unexpired Term Certain (yrs)

Retail 4.1 4.1

Office 3.9 1.9

Overall 4.0 3.4

D A V I D G A M E

R E T A I L

P R E T A M A N G E R

O F F I C E S

C R I S P I N S

C A L D E R C H E M I S T

E A T

C R U S S H

B O O T S

F R A E

C A F E N E R O

L E A S E D T O 9 D I F F E R E N T T E N A N T S T H E P R O P E R T Y O F F E R S A D I V E R S E I N C O M E P R O F I L E

T E N A N T S B Y I N C O M E

U S E B Y A R E A

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COVENANT

Address Tenant Tangible Net Worth

Turnover (Most recent Year) D&B Rating Comment

47 Notting Hill Gate FRAE NHG Ltd £15,787 - G3 FRAE frozen yogurt was established around 2009 and now has six units throughout London.

49/51 Notting Hill GateBIPIN CHANDRA CHATURBHAI PATEL

- - - Crispins is a local shop which has been in occupation since 1991.

53 Notting Hill Gate NERO HOLDINGS LTD £144.68 M £215.50 M 5A1Caffè Nero is a European style coffee shop chain with its headquarters in London. It was founded in 1990 and the company runs more than 600 shops.

55/57 Notting Hill Gate MAHESH AMIN - - - Independant Chemists who serve the local area.

59 Notting Hill Gate CRUSSH (NOTTING HILL) LTD £1 - H2 Founded in 1998 Crussh is a health food shop offering juices, smoothies, salads and soups.

61 Notting Hill Gate BOOTS UK LTD £430.00 M £6,204 M 5A1 Established in 1849 Boots has become one of the best known national high street retailers.

63 Notting Hill Gate EAT LTD £12.83 M £93.60 M 3A2EAT is a chain of sandwich shops with over 110 branches in the UK, the majority in London. The first shop was opened in October 1996.

65-67 Notting Hill Gate PRET A MANGER (EUROPE) LTD £221.87 M £404.14 M 5A1Pret was opened in London in 1986 and there are now over 330 Pret shops worldwide, most of which are in the UK.

69 Notting Hill Gate DAVID GAME Undisclosed Undisclosed Undisclosed Established in 1974, David Game is an independent college.

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P R E T A M A N G E R 6 5 - 6 7 N O T T I N G H I L L G A T E

F i g 2

C R U S S H 5 9 N O T T I N G H I L L G A T E


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Asset Management OPPORTUNITIES

This opportunity provides immediate, medium and long term asset management initiatives that have the potential to add significant value.

1. Consider date for vacant possession of the entire property for redevelopment and extension

2. Under utilised ancillary retail space lies at first floor level and this should be incorporated into future development plans

3. Conclude the ongoing rent review at 67 Notting Hill Gate (Pret a Manger) and/or seek to restructure their two leases

4. 47 Notting Hill Gate (Frae) lease expires in June 2015 and consideration should be made to securing vacant possession to enhance the tenant mix

5. David Game office lease is not protected and has a mutual break clause

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Development Potential

The Royal Borough of Kensington and Chelsea (RBKC) has identified Notting Hill Gate as an area of opportunity and change, with a vision to create new high quality architecture and public realm. To facilitate this, an overarching Supplementary Planning Document (SPD) has been prepared specifically for the area.

The purpose of the SPD is to promote high quality development at Notting Hill Gate and provide greater certainty to developers in the planning and delivery of key sites.

The extent of the area covered by the SPD covers the entire Notting Hill Gate Estate and includes this asset sale, South/David Game House.

The SPD suggests the addition of a single storey, which is illustrated in a Squire & Partners conceptual scheme totalling 5,274 sq ft GIA.

The existing upper floors are occupied by David Game College, which has a personal educational planning permission. On vacation of the premises, these floors would revert to B1 office use.

Any proposals for the South are encouraged to explore improved access to the Underground Station and its entrance, whilst retaining the retail at ground floor.

The pre-application discussions with RBKC pertaining to the site confirm that the addition of

a single storey would be acceptable in townscape terms provided that the detailed design protects the amenity of surrounding properties.

Furthermore, the feedback received from RBKC encourages the expansion, where possible, of the ground floor retail use given its prominence in Notting Hill Gate.

The Feasibility Study for the wider estate prepared by Squire & Partners is accessible at www.nhge.co.uk.PROPOSED

SCHEME

1

5

27

33

East South

West

North

1

2

3

4

5

6

7

East - Astley House

South - David Game House

North - United House

West - 146-166 Notting Hill Gate

Newcombe House - Brockton/Development Securities

Bookshop Site - Stranton Properties

Coronet

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VATThe property is elected for VAT and as such VAT will be payable on the purchase price unless the property is sold by way of a Transfer of a Going Concern (TOGC).

FURTHER INFORMATIONA dataroom containing additional detail is available at www.nhge.co.uk

PROPOSALOffers in excess of £33 million are sought for the freehold interest, subject to contract. A purchase at this level would reflect a net initial yield of 3.13% and an equivalent yield of 4.16% after the deduction of purchasers costs of 5.80%.

The freeholder will also consider a sale of the Jersey Property Unit Trust that holds the assets.

Important Notice

Savills, their clients and any joint agents 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, photographs and plans are for guidance only and are not necessarily comprehensive. It should not be assumed that the property has all necessary planning, building regulation or other consents and Savills have not tested any services, equipment or facilities. Purchasers must satisfy themselves by inspection or otherwise.

Designed and Produced by Savills Marketing: 020 7499 8644

February 2015

33 Margaret StreetLondon W1G 0JD

CONTACTSPaul CockburnCentral London Investment+44 (0) 20 7409 8788+44 (0) 7870 555 [email protected]

Andrew Boyd London Residential Development+44 (0) 20 7409 9993+44 (0) 7807 999 [email protected]

George Gawthrop Central London Investment+44 (0) 20 7409 8002+44 (0) 7807 999 [email protected]

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