ely house - Levy LLP
E LY H O U S E 37 DOVER STREET | LONDON W1
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ELY HOU SE 37 DOVER STREET LONDON W1
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37 DOVER STREET | LONDON W1 FLAGSHIP RETAIL OPPORTUNITY
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22. Bentley’s Oyster Bar & Grill 23. Brasserie Roux 24. Green’s 25. Nobu 26. Quaglino’s 27. Rowley’s 28. The Wolseley 29. Wiltons
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44. Bonhams 45. Christie’s 46. Dreweatts & Bloomsbury Auctions 47. Phillips 48. Sotheby’s
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BERKELEY SQUARE
AUCTION HOUSES
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THEATRE & ARTS 40. BAFTA 41. Her Majesty’s Theatre 42. Institute of Contemporary Arts 43. Royal Academy
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15. Brown’s 16. Dukes 17. Le Meridien 18. The Cavendish 19. The May Fair 20. The Ritz 21. The Stafford
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30. The Athenaeum 31. Boodle’s 32. Institute of Directors 33. The In & Out 34. Reform Club 35. The Carlton Club 36. The East India Club 37. The Royal Automobile Club 38. The Travellers Club 39. White’s
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1. Aston Martin 2. Wolf & Badger 3. Acne 4. Van Cleef & Arpels 5. Victoria Beckham 6. Vanessa Bruno 7. David Zwirner Gallery 8. Alexander Wang 9. De Beers 10. Fortnum & Mason 11. Hatchards 12. Turnbull & Asser 13. Paul Smith 14. Burlington Arcade
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Ely House (37 Dover Street) is prominently situated adjacent to the Dover Street Art’s Club in the prime section of Dover Street. Dover Street runs north from Piccadilly into Mayfair and is bordered by Albemarle Street to the east and Berkeley Street to the west, with Berkeley Square, E E T R S T O K Old Bond Street and Green Park in the immediateBvicinity. R O
HANOVER SQUARE
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H U G R O B O L A R
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L O C AT I O N Ely House (37 Dover Street) is located on one of London’s most sought after retail destinations in the heart of Mayfair. Dover Street runs parallel to Bond Street and Albemarle Street connects Piccadilly to Berkeley Square. Mayfair lies at the centre of London’s West End and is its most exclusive retail and restaurant destination. The area has a mix of top quality office buildings, high end residential accommodation, fine dining, five star hotels and high class luxury retailing centred around the world renowned Bond Street. The Dover Street, Albemarle Street and Grafton Street area is emerging as a pre-eminent destination for retail, fashion and art as evidenced by the recent lettings to Alexander Wang, Victoria Beckham, Amanda Wakeley, Boodles, Aquazzura and Faliero Sarti. The area is also renowned for art galleries such as David Zwirner, Marlborough Fine Art, Mazzolini Gallery and Sprueth Magers.
E LY H O U S E 37 DOVER STREET | LONDON W1 FLAGSHIP RETAIL OPPORTUNITY
A C C O M M O D AT I O N Ely House is one of Mayfair’s most elegant buildings, and was built in 1772 as the London residence of the Bishop of Ely. The premises provide a number of spacious and stunning salons as well as administrative offices and storage space, planned over ground, basement, first, second , third and fourth floors with the following approximate gross internal areas FLOOR Ground Basement First – Ely House First – 13 Berkeley Street Second Third Fourth Total
Area (sq m) Area (sq ft) 263.94 2,841 139.35 1,500 122.8 1,322 170.81 1,839 163.02 1,755 61.63 663 97.55 1,050 1,045.76 11,257
TENURE Ely House, 37 Dover Street The lease of Ely House is held on an effective full repairing and insuring basis by way of service charge for a term of 15 years from 29th September 2011 expiring on 28th September 2026. The lease is contracted within the security of tenure provisions of the 1954 Landlord & Tenant Act (Part II) as amended.
First Floor, 13 Berkeley Street The lease is held on an effective full repairing and insuring basis by way of service charge for a period of 5 years from 19th July 2015 expiring on 18th July 2020. The lease is contracted outside the security of tenure provisions of the 1954 Landlord & Tenant Act (Part II) as amended.
RENT Ely House, 37 Dover Street The rent is £550,000 per annum which is subject to upward only rent reviews on 29th September 2016 and 2021. At review the rent will be increased in line with the Retail Price Index over the period, subject to a minimum increase of 15% and a maximum of 30%. This is very advantageous to the tenant. At the September 2016 review the rent will almost certainly increase by the minimum amount to £632,500 per annum. This means that at the September 2021 review the rent will be a maximum of £822,250 and a minimum of £727,375 per annum. First Floor, 13 Berkeley Street £280,000 per annum exclusive.
PREMIUM Upon Application.
PLANNING
EPC
Ely House, 37 Dover Street - Grade I Listed Building. - A1 Retail Use until 16th October 2026.
EPC available on request.
First Floor, 13 Berkeley Street - A1 Retail use in conjunction with the main building.
B U S I N E S S R AT E S Ely House, 37 Dover Street Rateable Value UBR 15/16 Rates Payable 15/16
£380,000 £0.493 £187,340
LEGAL COSTS Each party to be responsible for their own legal and professional costs incurred in this transaction.
V I E W I N G & F U RT H E R I N F O R M AT I O N Strictly by prior appointment only with: Matt Paulson-Ellis [email protected] 020 7747 0151 Roger Sharpley [email protected] 020 7747 0150 Dan Ridgers [email protected] 020 7747 0153
First Floor, 13 Berkeley Street Rateable Value UBR 15/16 Rates Payable 15/16
£156,000 £0.493 £76,908
E LY H O U S E 37 DOVER STREET | LONDON W1 FLAGSHIP RETAIL OPPORTUNITY
MISREPRESENTATION ACT 1967 – LEVY REAL ESTATE LLP for themselves and for the Vendors or Lessors of this property whose agents they are given notice that: all descriptions, dimensions, reference to condition and necessary permissions for use and occupation and other details are unless otherwise stated indicative only. Any intending purchasers or tenants should not rely on them as statements or representations of fact or as warranties but must satisfy themselves by inspection or otherwise as to the correctness of each of them. Any services mentioned have not been tested and therefore prospective occupiers should satisfy themselves as to their operation. These particulars are produced in good faith and set out a general guide only and do not constitute part of any offer or contract. No person in the employment of Levy Real Estate LLP has any authority to make or give representation or warranty in relation to this property. All prices and rents are quotes exclusive of VAT unless otherwise stated. February 2016.
M A G N I F I C E N T R E TA I L O P P O RT U N I T Y
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ELY HOU SE 37 DOVER STREET LONDON W1
GREEN PA R K
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37 DOVER STREET | LONDON W1 FLAGSHIP RETAIL OPPORTUNITY
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22. Bentley’s Oyster Bar & Grill 23. Brasserie Roux 24. Green’s 25. Nobu 26. Quaglino’s 27. Rowley’s 28. The Wolseley 29. Wiltons
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44. Bonhams 45. Christie’s 46. Dreweatts & Bloomsbury Auctions 47. Phillips 48. Sotheby’s
G
G
W
BERKELEY SQUARE
AUCTION HOUSES
E T R E S T
E
EET
E
N
A
GR
Y’
RESTAURANTS
TO
PL
BR
THEATRE & ARTS 40. BAFTA 41. Her Majesty’s Theatre 42. Institute of Contemporary Arts 43. Royal Academy
RU
47
A
15. Brown’s 16. Dukes 17. Le Meridien 18. The Cavendish 19. The May Fair 20. The Ritz 21. The Stafford
B
H
HOTELS
MAYFAIR
K
30. The Athenaeum 31. Boodle’s 32. Institute of Directors 33. The In & Out 34. Reform Club 35. The Carlton Club 36. The East India Club 37. The Royal Automobile Club 38. The Travellers Club 39. White’s
R
1. Aston Martin 2. Wolf & Badger 3. Acne 4. Van Cleef & Arpels 5. Victoria Beckham 6. Vanessa Bruno 7. David Zwirner Gallery 8. Alexander Wang 9. De Beers 10. Fortnum & Mason 11. Hatchards 12. Turnbull & Asser 13. Paul Smith 14. Burlington Arcade
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PRIVATE CLUBS
H I T F R
R
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48
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RETAIL
E T R E S T
T E E
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E T R E S T
R N O V E O S G R
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HA
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Ely House (37 Dover Street) is prominently situated adjacent to the Dover Street Art’s Club in the prime section of Dover Street. Dover Street runs north from Piccadilly into Mayfair and is bordered by Albemarle Street to the east and Berkeley Street to the west, with Berkeley Square, E E T R S T O K Old Bond Street and Green Park in the immediateBvicinity. R O
HANOVER SQUARE
E T R E S T
H U G R O B O L A R
E T R E S T
E T R E S T
S I T U AT I O N
N D L A
L Y L
OXFORD CIRCUS
R G
E E T S T R
O R D O X F
H RO AD
T
H
E
M
A
L
L
M
AL
L
L O C AT I O N Ely House (37 Dover Street) is located on one of London’s most sought after retail destinations in the heart of Mayfair. Dover Street runs parallel to Bond Street and Albemarle Street connects Piccadilly to Berkeley Square. Mayfair lies at the centre of London’s West End and is its most exclusive retail and restaurant destination. The area has a mix of top quality office buildings, high end residential accommodation, fine dining, five star hotels and high class luxury retailing centred around the world renowned Bond Street. The Dover Street, Albemarle Street and Grafton Street area is emerging as a pre-eminent destination for retail, fashion and art as evidenced by the recent lettings to Alexander Wang, Victoria Beckham, Amanda Wakeley, Boodles, Aquazzura and Faliero Sarti. The area is also renowned for art galleries such as David Zwirner, Marlborough Fine Art, Mazzolini Gallery and Sprueth Magers.
E LY H O U S E 37 DOVER STREET | LONDON W1 FLAGSHIP RETAIL OPPORTUNITY
A C C O M M O D AT I O N Ely House is one of Mayfair’s most elegant buildings, and was built in 1772 as the London residence of the Bishop of Ely. The premises provide a number of spacious and stunning salons as well as administrative offices and storage space, planned over ground, basement, first, second , third and fourth floors with the following approximate gross internal areas FLOOR Ground Basement First – Ely House First – 13 Berkeley Street Second Third Fourth Total
Area (sq m) Area (sq ft) 263.94 2,841 139.35 1,500 122.8 1,322 170.81 1,839 163.02 1,755 61.63 663 97.55 1,050 1,045.76 11,257
TENURE Ely House, 37 Dover Street The lease of Ely House is held on an effective full repairing and insuring basis by way of service charge for a term of 15 years from 29th September 2011 expiring on 28th September 2026. The lease is contracted within the security of tenure provisions of the 1954 Landlord & Tenant Act (Part II) as amended.
First Floor, 13 Berkeley Street The lease is held on an effective full repairing and insuring basis by way of service charge for a period of 5 years from 19th July 2015 expiring on 18th July 2020. The lease is contracted outside the security of tenure provisions of the 1954 Landlord & Tenant Act (Part II) as amended.
RENT Ely House, 37 Dover Street The rent is £550,000 per annum which is subject to upward only rent reviews on 29th September 2016 and 2021. At review the rent will be increased in line with the Retail Price Index over the period, subject to a minimum increase of 15% and a maximum of 30%. This is very advantageous to the tenant. At the September 2016 review the rent will almost certainly increase by the minimum amount to £632,500 per annum. This means that at the September 2021 review the rent will be a maximum of £822,250 and a minimum of £727,375 per annum. First Floor, 13 Berkeley Street £280,000 per annum exclusive.
PREMIUM Upon Application.
PLANNING
EPC
Ely House, 37 Dover Street - Grade I Listed Building. - A1 Retail Use until 16th October 2026.
EPC available on request.
First Floor, 13 Berkeley Street - A1 Retail use in conjunction with the main building.
B U S I N E S S R AT E S Ely House, 37 Dover Street Rateable Value UBR 15/16 Rates Payable 15/16
£380,000 £0.493 £187,340
LEGAL COSTS Each party to be responsible for their own legal and professional costs incurred in this transaction.
V I E W I N G & F U RT H E R I N F O R M AT I O N Strictly by prior appointment only with: Matt Paulson-Ellis [email protected] 020 7747 0151 Roger Sharpley [email protected] 020 7747 0150 Dan Ridgers [email protected] 020 7747 0153
First Floor, 13 Berkeley Street Rateable Value UBR 15/16 Rates Payable 15/16
£156,000 £0.493 £76,908
E LY H O U S E 37 DOVER STREET | LONDON W1 FLAGSHIP RETAIL OPPORTUNITY
MISREPRESENTATION ACT 1967 – LEVY REAL ESTATE LLP for themselves and for the Vendors or Lessors of this property whose agents they are given notice that: all descriptions, dimensions, reference to condition and necessary permissions for use and occupation and other details are unless otherwise stated indicative only. Any intending purchasers or tenants should not rely on them as statements or representations of fact or as warranties but must satisfy themselves by inspection or otherwise as to the correctness of each of them. Any services mentioned have not been tested and therefore prospective occupiers should satisfy themselves as to their operation. These particulars are produced in good faith and set out a general guide only and do not constitute part of any offer or contract. No person in the employment of Levy Real Estate LLP has any authority to make or give representation or warranty in relation to this property. All prices and rents are quotes exclusive of VAT unless otherwise stated. February 2016.
