13 Grosvenor Gardens and 13 Grosvenor Mews Belgravia London SW1W 0BD

13 Grosvenor Gardens and 13 Grosvenor Mews
Belgravia
London
SW1W 0BD

Attractive and Highly Reversionary Long Let Office Investment

  • Let to Polyglobe Limited until December 2050 (Approx 33 years unexpired - No breaks)
  • Valuable Reversion in approximately 33 years
  • Occupational rent geared to 14% of Rental Value
  • Period Office Building comprising 7,973 sq ft with Car Parking
  • Close to Buckingham Palace, St James' Park and Victoria Station in London's Belgravia
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot
    7
  • Auction
    30th March 2017
  • Rent
    Gross: £23,064 per Annum Exclusive
  • Status
    Sold
  • Price
    £1,505,000
  • Sector
    Office
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
Important Update
  • Expand
  • Photos
  • Map

* More information on the term "guide" can be found here

Attractive and Highly Reversionary Long Let Office Investment

  • Let to Polyglobe Limited until December 2050 (Approx 33 years unexpired - No breaks)
  • Valuable Reversion in approximately 33 years
  • Occupational rent geared to 14% of Rental Value
  • Period Office Building comprising 7,973 sq ft with Car Parking
  • Close to Buckingham Palace, St James' Park and Victoria Station in London's Belgravia
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot 7
  • Auction 30th March 2017
  • Rent
  • Status Sold
  • Price £1,505,000
  • Sector
    Office
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG

Property Information

Location
Miles
Approx. 400m to Buckingham Palace, Approx. 850m to Hyde Park
Rail
London Victoria Railway Station (approx. 350m away)
Air
London Heathrow, London Gatwick and London City Airports
Situation

The property is situated on the eastern side of Grosvenor Gardens, close to its junction with Lower Grosvenor Place and Beeston Place, in the heart of London's Belgravia. Belgravia is a popular office location with office occupiers including Google, EDF Energy, Bluecrest Capital Management and Royal Bank of Scotland. The National Trust and Moët Hennessy have offices nearby. Belgravia also houses a number of foreign embassies, including those of Germany, Italy and Spain. Victoria Station is located 350 metres away. The Goring Hotel is also located on Beeston Place, to the rear of the property.

Tenure

Leasehold. Long Leasehold from The Grosvenor Estate. Held for a term of 125 years from 24/06/2006 (expiring 23/06/2131) at a rent of £23,670 per annum. The Head Rent payable is reviewed every 5 years to 10% of Rental Value. The next review is in June 2019.

Location
Miles
Approx. 400m to Buckingham Palace, Approx. 850m to Hyde Park
Rail
London Victoria Railway Station (approx. 350m away)
Air
London Heathrow, London Gatwick and London City Airports
Situation

The property is situated on the eastern side of Grosvenor Gardens, close to its junction with Lower Grosvenor Place and Beeston Place, in the heart of London's Belgravia. Belgravia is a popular office location with office occupiers including Google, EDF Energy, Bluecrest Capital Management and Royal Bank of Scotland. The National Trust and Moët Hennessy have offices nearby. Belgravia also houses a number of foreign embassies, including those of Germany, Italy and Spain. Victoria Station is located 350 metres away. The Goring Hotel is also located on Beeston Place, to the rear of the property.

Tenure

Leasehold. Long Leasehold from The Grosvenor Estate. Held for a term of 125 years from 24/06/2006 (expiring 23/06/2131) at a rent of £23,670 per annum. The Head Rent payable is reviewed every 5 years to 10% of Rental Value. The next review is in June 2019.

Description

The property, which is Grade II listed, comprises an office building providing accommodation on ground, lower ground and five upper floors. The property benefits from a passenger lift and car parking for approximately 3 cars.

VAT

VAT is applicable to this lot.

Completion Period

Eight Week Completion

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

The property, which is Grade II listed, comprises an office building providing accommodation on ground, lower ground and five upper floors. The property benefits from a passenger lift and car parking for approximately 3 cars.

VAT

VAT is applicable to this lot.

Completion Period

Eight Week Completion

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Floor Use Floor Areas (Approx) Tenant Term Rent p.a.x Reviews
Ground
Basement
Ground Floor Mezzanine
(Lower and Upper)
First/First Floor Mezzanine
Second/Second Floor Mezzanine
Third
Fourth
Fifth
Office/Reception
Office/Ancillary
Office

Office
Office
Office
Office
Office
123.56 sq m
142.51 sq m
58.52 sq m

115.85 sq m
85.94 sq m
81.20 sq m
77.11 sq m
56.02 sq m
(1,330 sq ft)
(1,534 sq ft)
(630 sq ft)

(1,247 sq ft)
(925 sq ft)
(874 sq ft)
(830 sq ft)
(603 sq ft)
POLYGLOBE
LIMITED (1)

77 years and 300 days from
01/03/1973
until 25/12/2050
£46,734
24/06/2019
and five yearly
thereafter (2)
Totals
740.71 sq m
(7,973 sq ft)
    £46,734
 

(1). Since 1971, The Polyglobe Group has continued to build its reputation as a leading UK hotel agency. 11 retail units across London travel hubs serve international and domestic visitors in the leisure market. For the year ending 30th November 2015, Polyglobe Limited reported a turnover of £11,866,122, pre-tax profits of £-337,890 and a total net worth of £1,851,830 (Sources www.polyglobegroup.com and Experian Group 24/02/2017). Part of the property is sub-underlet to Buchanan Hartley Architects.
(2) The rent is reviewed every five years to 14% of Rental Value.
NB: The landlord is required to insure the building. The premium is irrecoverable from the occupational tenant.

Property Documents

  • Catalogue Page
    Updated Date
    29.10.19
    File Size
    2 MB
    View PDF
  • Site Plan
    Updated Date
    29.10.19
    File Size
    554 KB
    View PDF
  • Common Auction conditions
    Updated Date
    10.06.21
    File Size
    168 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Acuitus
David MargolisDavid Margolis +44 (0)20 7034 4862 +44 (0)7930 484 440david.margolis@acuitus.co.uk
Associate AuctioneersJames Baruch 0203 903 7310jamiebaruch@tydusre.com
Seller's Solicitors
Pinsent Masons LLP The Soloist, 1 Lanyon Place
Belfast
Ireland
BT1 3LP
Joanna Robinson 02890 894946joanna.robinson@pinsentmasons.com

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk

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