Summary
The Freehold is an impressive example of impeccable Georgian architecture. The property is rich in history having stood on the site of the historic Lord’s Cricket Ground (Dorset Fields), until it was redeveloped in the 1810s. Later, during WWII, the property was used by the Special Operations Executive when it was known as Spy Corner. A plaque was unveiled in 1957 by the late Queen Mother for the bravery of the agents who left the premises during the war on dangerous missions in France.
The street entrance to the property leads into a grand hallway with vast ceiling heights and a large sweeping central stairway, each floor is similar in spec and proportion with many of the attractive period features retained. The property has CAT 5 cabling throughout, air conditioning, and other modern fittings. The property also has kitchen space on the lower ground level and multiple W/Cs. The property is in a generally fair state of repair, although could benefit from light refurbishment for future use. The property benefits from a flexible user class (E-CLASS). We believe the property configures well as an educational facility equally office or a medical establishment. Residential accommodation may be possible subject to securing the necessary planning consents.
Key Points
Incredibly rare opportunity to acquire a substantial corner plot.Highly versatile Grade II listed building.Sought-after PCL Garden Square.100m from Marylebone Station.Arranged over 5 generous floors measuring 432 sq m / 4,650 sq ft (GIA).Sold with Full Vacant Possession.
History and Situation
The subject property enjoys a dominating position in the heart of one of London’s most fashionable neighbourhoods – Marylebone, which derives its name in part, from the original St Mary’s Church ‘Mary’ built on the banks of a small stream or ‘bourne’ that runs the length of Marylebone Lane – the ‘le’ was a later added, fittingly, from French influence in the 17th C. In more modern times, the area is a central district of London’s West End having been developed over the centuries by rivalling Dukedoms. The area is now mainly owned by the Howard De Walden Estate which controls and operates large swathes and invests heavily to ensure the area retains its appeal.
The broader area is now subject to several high-profile residential-led schemes currently underway or in the pipeline. These include the £600m three-phase project – Church Street Market, and the provision of 49 new units on Cosway Street. These inspiring developments are a magnet for foreign investment from all over the globe and further cement Marylebone’s international appeal.
Connectivity
The property has excellent local transport connections, this is demonstrated via a best-in-class ‘PTAL’ rating of 6B.
Bus - The nearest bus stop is Dorset Square / Gloucester Pl (Stop G). It is located 25 away or approximately 1-minute walking distance.
Tube - The nearest tube station is Baker Street. It is located 350m away or approximately 4 minutes walking distance.
Train -The nearest station is Marylebone Station. It is located 0.1km away or approximately 2 minutes walking distance.
Air – Heathrow Airport is 20km away and reachable within 1 hour by car, or approx. 30 minutes via public transport.
Executive Summary
• Potential for a wide variety of uses falling within current use class E, or alternative uses (STPP).
• Existing property owned and used for 36 years by the language school Alliance Française de Londres, and formally by the French Resistance during the war, glamorously known as ‘spy corner’ during the period.
• Located on the Eastern side of Dorset Square with a commanding position and attractive views across immaculate central gardens.
• Marylebone is a thriving district that has become one of London’s most vibrant areas and is a favoured destination for companies in multiple industries.
• Highest possible Public Transport Accessibility Level (6b) and within 100m of Marylebone Mainline Station.
• 2023 office ERV tone is currently at £55/p/sf, establishing a reversionary pattern for the building.
• The Freehold is offered for sale with full Vacant Possession.
• 432 sq m / 4,650 sq ft Gross Internal Area (GIA) of versatile, well-configured accommodation that benefits from high levels of natural light and period features.
• We are instructed to seek offers in the region of £3,000,000 (Three Million Pounds) subject to contract, for the Freehold interest.
Location
The property is located 100m from Marylebone Station, one of London’s busiest stations bringing around 14 million passengers to London each year. The property is also near the green expanses of Regent’s Park. The square itself accommodates a mix of hotels, apartments, offices, and educational buildings and surrounds impressively kept central gardens. The subject property is also moments away from the central Marylebone ‘village’, populated with exclusive retail parades, and high-end eateries including The Chiltern Firehouse, Daylesford and Fishworks, and grand period residential streets.Terms
TITLE & TENURE: The Freehold is offered for sale with Full Vacant Possession. Title Number: LN88854
RATEABLE VALUE: £84,000 (We strongly advise interested parties to verify this with the local authority: (Westminster City Council).
METHOD OF SALE: The site will be sold by way of informal tender (unless sold prior). Further details will be provided in due course.
PLANNING: The property is located within the London Borough of Westminster. The property is listed (Grade II). Planning is granted for a wide range of uses with the use (CLASS E).
VAT: Not applicable.
PROPOSAL:
We are instructed to seek offers in the region of £3,000,000 (Three Million Pounds) subject to contract, for the benefit of the Freehold interest, with each party to pay its own legal costs.
Viewings: The site can be viewed externally from Dorset Square. All internal viewings are by strict appointment via sole agents Winkworth Commercial.
A legal data room is available on request.