Welby House is a mid-terrace building with the entrance fronting the south side of Wilton Road. To the front there are large bay windows with lead panels which provide a distinguished appearance.
The building has a London Stock Brick façade, which together with the mansard and pitched slate tiled roof, makes the building unique compared its neighbouring properties. Welby House was built in the 1990s and is arranged over lower ground, ground and three upper floors, the floor plates range between 917 sq ft and 2,384 sq ft
The reception has been recently refurbished and provides access to bicycle storage. There are changing and shower facilities located in the lower ground.
Location
Welby House is only a 4 minute walk to Victoria Station (Circle & District and Victoria lines), 9 minute walk to Pimlico Underground station (Victoria line), and a 13 minute walk from St James’s Park Underground station (District & Circle line).
Victoria station offers rail services to the south-east and southern England, destinations include Clapham Junction, Vauxhall, Brighton, Dover, and Southampton, along with many southern commuter towns.
Accommodation
Third Floor - 1,328 sq ft (123 sq m)
Second Floor - 2,001 sq ft (186 sq m)
First Floor - 2,384 sq ft (221 sq m)
Part Ground - 917 sq ft (85 sq m)
Part Lower Ground (Front) - 302 sq ft (28 sq m)
Part Lower Ground (Rear) - 756 sq ft (70 sq m)
TOTAL - 7,688 sq ft (714 sq m)
Terms
PROPOSAL:
- Offers in excess of £5,400,000
- Net Initial Yield of 5.22%
- Capital Value of £702 per sq ft
(assuming purchaser’s costs of 6.8%)
VAT - The property is elected for VAT. It is proposed that the sale will be undertaken as a Transfer of a Going Concern (TOGC).
EPC - The property has an EPC rating of B (29). Further information is available on request.
Specification
- Freehold
- Leased to two office tenants with one vacant floor
- 7,688 sq ft arranged over lower ground, ground and three upper floors
- 300 metres to London Victoria station
- Average rent equates to £39.18 per sq ft
- Lease expiries in 2025 & break options in 2024, offering potential to enhance the building
- Air Conditioning
- Slab-to-slab height of 3.0 metres
- 1 x 8 person passenger lift
- 10 cycle racks
- Raised floor
- Suspended mineral fibre ceiling
- WCs facilities on each floor
- Recently refurbished shower facilities