Prime Long Leasehold Interest Suitable for Investors & Owner Occupiers.
Situated behind a striking Grade II listed Victorian classical façade, 9-11 Grosvenor Gardens comprises an eclectic mix of open-plan and period style offices over lower ground, ground and six upper floors.
With a total floor area of 16,957 sq ft, floor plates range between 1,457 sq ft and 2,576 sq ft and can be easily sub-divided to provide more flexible accommodation.
To the rear of the property is a 2 bed maisonette, accessed from Grosvenor Gardens Mews East, with a gross internal area of 1,079 sq ft. The flat is situated above five covered car parking spaces and a loading bay which serves the lower ground floor tenants.
Location
9-11 Grosvenor Gardens occupies a mid-terraced site in Victoria with rear access from Grosvenor Gardens Mews East.
The building is close to the heart of the amenities that Victoria offers with Victoria Station only 300 metres to the south and the amenities on Victoria Street 450 metres to the east. Both Buckingham Palace Gardens, The Goring Hotel and the new 8 Eaton Lane development are just around the corner whilst Land Securities’ mixed use Nova scheme on Buckingham Palace Road is a short walk to the east.
The building occupies a prominent mid-terrace position in Grosvenor Gardens, an established commercial location bordering Victoria and Belgravia.
The micro location benefits from the green open spaces of the Royal Parks interconnect with the commercial district of Victoria and affluent neighbouring areas of Belgravia, Knightsbridge, St James’s and Mayfair, to create a dynamic location.
Victoria has witnessed unprecedented regeneration of its office market over the past 20 years, notable developments include Nova, Cardinal Place, Orchard Place, The Ice Factory, 46-48 Grosvenor Gardens and Sky Hub. The submarket is experiencing further redevelopment with 105 Victoria Street providing a mixed-use scheme of 470,000 sq ft due for completion in Q2 2026. 40 Broadway providing 100,000 sq ft of Grade A offices has recently completed and pre-let to F1. At 171 Victoria Street, a comprehensive redevelopment providing 208,000 sq ft has commenced and due for completion in Q3 2026.
The Peninsula London, opened its doors in September 2023, and will offer guests a new 5-star luxury hotel in Belgravia, overlooking Hyde Park Corner and Wellington Arch. The Cleveland Clinic opened in March 2022 at 33 Grosvenor Place and provides outstanding patient care and a pioneer in many medical breakthroughs.
The Victoria residential market has always benefited from its close proximity to the prestigious Belgravia and Knightsbridge residential addresses. Grosvenor Gardens will be dramatically enhanced by 8 Eaton Lane, which is due for completion in Q2 2026. This island site will provide 42 luxury residential apartments and 7 ground floor retail and leisure units. This will further establish Grosvenor Gardens as a notable Belgravia address.
9-11 Grosvenor Gardens benefits from the excellent transport network that Victoria has to offer, with Victoria Station only 300m away, whilst also just a short walk from the exclusive retailing, bars and restaurants of Belgravia and Knightsbridge.
Accommodation
The areas quoted below are net internal;
6th Floor - 199 sq ft - Available
5th Floor - 1,457 sq ft - Available
4th Floor - 1,946 sq ft - Available
3rd Floor - 2,209 sq ft - Available
2nd Floor - 2,576 sq ft - Available
1st Floor - 2,436 sq ft - Available
Gnd Floor Offices - 2,450 sq ft - Available
Gnd Floor Reception - 304 sq ft - Available
Lwr Gnd Floor - 3,380 sq ft - Available
Sub Total - 16,957 sq ft
First Floor Maisonette - 1,079 sq ft - Available
TOTAL - 18,036 sq ft
Terms
TENURE - The property is available by way of a long leasehold interest from the Grosvenor Estate for 125 years from 25th December 2001 expiring on 24th December 2126 (over 100 years unexpired).
The head rent is £58,750 per annum subject to rent review every five years or the greater of rent based on 10% of rents receivable.
PROPOSAL - The Vendors are seeking offers in the order of £10.5 million plus VAT, which reflects a capital value of £582 per sq ft.
TENANCIES:
Ground Floor No. 9 Grosvenor Gardens
Tenant: Morgan Rae Limited
Rent: £76,820 per annum exclusive or rates, service charge and VAT
Lease: 10 years with TB end 5th
Expiry: 20.03.2034
Ground Floor No. 11 Grosvenor Gardens
Tenant: Geneviv Medical Ltd
Rent: £64,613 per annum exclusive or rates, service charge and VAT
Lease: 10 years with TB end 5th
Expiry: 27.05.2034
Private Residential
Tenant: First Floor Mews Residential
Rent: £43,200 per annum
Lease: AST expiring 22nd February 2027.
PLANNING - The building is Grade II listed and is located within the Grosvenor Gardens Conservation Area.
EPC - EPC rating of C.
VAT - The property has been elected for VAT and it is anticipated that the transaction could be treated as a Transfer Of a Going Concern (TOGC).
Specification
- Attractive Grade II listed period property
- Located in the heart of Victoria / Belgravia
- 18,036 sq ft of office and residential accommodation with the benefit of five covered car spaces and rear loading bay
- Refurbished recently
- 125 year leasehold interest from the Grosvenor Estate expiring in June 2126
- Combined income from the ground floor offices and 1st floor residential of £184,633 per annum
- Extensive asset management opportunities
- Air-Conditioning
- Commissionaire
- Demised kitchens
- LED lighting
- Raised floors
- Shower facilities
- Bike racks
- Excellent transport links