• Internationally renowned Central London location

• In excess of 14 years unexpired lease term (no breaks)

• Moments from Buckingham Palace, Big Ben and Houses of Parliament

• 45 metres from St James Park underground station

• RPI-linked rent reviews

• The property benefits from A3 consent

• £1,500,000, subject to contract

• 6.6% net initial yield

The property occupies a prime position on Petty France being situated less than 45 metres from one of the four entrances to St James Park Station, 800 metres from Victoria and Westminster Stations and 0.8 miles (1.3 km) from Green Park Station.

Petty France is a busy through road linking Buckingham Gate with Broadway and Queen Anne’s Gate.

The property sits directly opposite the famous Ministry of Justice building comprising of over 550,000 sq ft over 14 floors. The immediate vicinity consists of office buildings, hotels, restaurants, shops, homes, educational buildings, medical facilities, embassies, theatres, leisure businesses and tourist attractions.

In 2019, TFL sold their head offices at 55 Broadway, 300 metres from the subject property. The property is set to be refurbished to comprise a 5 star hotel along with residential accommodation.

Other occupiers in the vicinity include three Pret A Manager’s, two Starbucks Coffees, Greggs, Itsu, Costa Coffee, Abokado, Crushh, Subway, Benugo and Leon.

The property comprises a leisure unit arranged over ground and lower ground floors and benefits from A3 planning consent. The tenant has extensively refurbished the property to a high quality fit.

Internally, the sales area is at ground floor level and a fully fitted kitchen at lower ground level.

Externally, the property has a 60 foot gross frontage, three access points from the front and a rear access point to the lower ground.

The property benefits from A3 planning consent, is not listed and does not sit within a Conservation Area.

The property is held on two co-terminus 136 year long leasehold from 25th March 1999 (over 115 years unexpired) at a peppercorn ground rent.

The Royal Artisan Bakery is an upscale eatery which focuses on healthy, high quality flavours and fresh ingredients. The theme is a combination of baker, barista, chef and art curator. For further information see here.

The Royal Artisan Bakery is part of the Quarter Group whose main operation is the Royal Quarter Café, approximately 100 metres from the subject property and has been trading since 2013. For further information see www.quartergroup.co.uk.

The Lower Ground level of the subject property is used as the central kitchen for the operations of the Quarter Group making it strategic to the business.

The property has been registered for VAT. It is anticipated that the sale will be treated as a Transfer as a Going Concern (TOGC).

1. A rare opportunity to acquire a prime Central London investment in Victoria;

2. Attractive unexpired lease term, in excess of 14 years;

3. The property benefits from RPI-linked rent reviews;

4. The property is adjacent to multiple busy entrances to St James Park Station;

5. The property benefits from A3 consent;

6. Strategic site, being the central kitchen to the Quarter Groups operations;

7. Attractive net initial yield of 6.6%.

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