20 Manchester Square - Hanover Green

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Under Offer

20 Manchester Square London, W1U 3PZ

Size 78,909 sq ft - 78,909 sq ft

For Sale Price on application

Outstanding landmark HQ office let on a rare 15 year unbroken lease to Lazard

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Specification

Dominant position on the northwest corner of Manchester Square
State of the art, newly developed office building totalling 78,909 sq ft with four prominent frontages
Designed by award winning architects Squire & Partners
Exceptional office accommodation with stunning dual terraces overlooking Manchester Square
Targeting BREEAM Excellent and WiredScore ‘Platinum’
Pre-let in 2021 to Lazard for a term of 15 years from 22nd October 2024 with no breaks
Lazard is a leader in global financial services, providing investment grade income security
Highly reversionary passing rent of £7,693,627.50 per annum, reflecting £97.50 psf overall, with rents in the vicinity now in excess of £135.00 psf
Held long leasehold from the Portman Estate with approximately 110 years unexpired
Income and capital expenditure shared on a side by side basis with 18.75% of net income payable to the freeholder
Offers are invited for the Luxembourg incorporated SPV, which holds the long leasehold interest

Property overview

Designed by award winning architects, Squire and Partners, the building has been stripped back to frame, and the subject of a £45m comprehensive remodelling and extension to create one of the West End’s highest quality HQ offices.

The large floor plates of c.13,000 sq ft provide uninterrupted free-flowing circulation space arranged across lower ground, ground and five upper floors, with stunning views over the garden square and windows on six frontages.

Relocation of the core and main entrance have facilitated unique, uninterrupted open plan floors with excellent natural light from multiple elevations.

The floor plate is broadly L-shaped and served by a bank of three lifts in a new core on the Baker’s Mews elevation with a secondary core on the north
western side.

Practical completion of the scheme occurred in June 2024 and Lazard are now in the process of fitting-out, which is expected to be completed in Q2 2025.

Manchester Square is positioned close to the junction of Wigmore Street and Baker Street, adjacent to Portman Square.

20 Manchester Square occupies the entire northwest corner, situated adjacent to Hertford House, home to The Wallace Collection. The building has additional frontages to Robert Adam Street to the north, Fitzhardinge Street to the south and Baker’s Mews to the rear which provides a secondary access to the property.

Virtually all of the original Georgian and Regency period house frontages remain intact.