Highly Reversionary and Prime Retail Investment in the Heart of Marylebone, W1

 

Summary

  • A prominent and attractive parade of retail shops within short walking distance of both Marylebone and Baker Street stations, in addition to the exquisite Marylebone High Street
  • Multi let to 4 tenants
  • A total of 5,400 sqft (NIA) split over basement and ground
  • The tenants include Honest Burger, AD Food & Wine, BUPA Dental Services and Bistro Beirut
  • Total income of £194,500 per annum reflecting a low average value of £36 psf
  • BUPA did not exercise their 2024 break
  • Highly reversionary with recent open market letting achieving £54.87psf
  • WAULT of 6.36 years to expiries and 4.35 years to breaks
  • Well configured and desirable units, making reletting prospects strong
  • Offers in the region of £3,600,000, reflecting a NIY of 5.07% and reversionary yield of 7.73% based on the recent letting achieved at number 32

Accommodation

The accommodation comprises the following areas:

Namesq ftsq mAvailability
Basement - 29 Paddington Street 582 54.07 Available
Ground - 29 Paddington Street 451 41.90 Available
Basement - 30 Paddington Street 821 76.27 Available
Ground - 30 Paddington Street 717 66.61 Available
Basement - 31 Paddington Street 978 90.86 Available
Ground - 31 Paddington Street 722 67.08 Available
Basement - 32 Paddington Street 726 67.45 Available
Ground - 32 Paddington Street 404 37.53 Available
Total5,401501.77
29-32 Paddington Street - Exterior Front_Paddington Street_5.jpg

Location

The subject property is situated on Paddington Street, a dominant through road connecting Baker Street and Marylebone High Street, which is known for its world-class dining, drinking and shopping offerings. It has always been a premium modern residential and business destination due to its central location in the capital, excellent transport links and exclusive W1 postcode. The property is prominently positioned on the cross-road between Chiltern Street and Paddington Street, and experiences large amounts of footfall from workers and residents walking between Marylebone and Baker Street Station.

The property is surrounded by a range of globally and locally renowned occupiers, including The Ivy, Diptique, Trishna, the Conran Shop, Ohisama Sushi, Il Blandford’s and Alley Cats Pizza, as well as numerous hotels including the Chiltern Firehouse and The Marylebone. Located opposite and in close proximity are a range of residential and commercial developments, most notably Chiltern Place, an ultra high end residential development by Ronson Capital Partners, where apartments were sold at record Marylebone levels.

Marylebone is a vibrant district located in the City of Westminster, in the heart of central London. Bordered by bustling Oxford Street to the south, Regents Park to the north, and Edgware Road to the west, Marylebone boasts a blend of classic Georgian architecture and contemporary developments.

This area is known for its charming streets, upscale boutiques, and stylish restaurants. The iconic Baker Street, famous for its Sherlock Holmes associations, runs through the district. Marylebone is also home to the renowned Madame Tussauds wax museum and the historic Marylebone Station, providing convenient transportation links across London and beyond.

The property is located is located in heart of Marylebone on Paddington Street and is approximately 100 meters from the entrance to Baker Street Station. The property ‘s central location is only a short walk from six tube lines, including the new Elizabeth line from Bond Street, as well as National Rail Services from Marylebone Overground Station.

Marylebone High Street, just a short walk from the property, is one of London’s most distinctive and atmospheric shopping destinations. It offers a unique blend of independent boutiques and larger, more established brands; some rooted in the community for decades, others dynamic new arrivals. Chiltern street is all about fashion, glamour, and fame. It is renowned for its great eating and drinking spots and for its trendy bars and cafés. The quaint sense of the area comes primarily from grand Victorian architecture. Home to some of the finest facades in this city, with exquisite original details, including the noticeable watchtower.

Get directions from Google Maps

Further Information

Price Offers in the region of £3,600,000

Rates Payable Upon Enquiry


Description

The property comprises of four self contained retail (Class E) units arranged over ground and lower ground floors. The first & second floors comprise of residential accommodation which do not form part of this sale.