16 Berkeley Street - Hanover Green

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16 Berkeley Street London, W1J 8DZ

Size 40,024 sq ft - 40,024 sq ft

For Sale £78,500,000

Rare Mayfair Freehold

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Specification

Freehold
Located in core Mayfair, adjacent to Berkeley Square, opposite Blackstone’s new HQ
A short walk from Green Park and Bond Street Station
A striking modern mixed-use property comprising 40,024 sq ft, with well-configured open plan offices comprising 34,997 sq ft and a gym of 5,027 sq ft
Over 10 years of highly reversionary income secured to two tenants
Total passing rent of £2,514,032 per annum
Low office passing rent of £64.41 per sq ft, agreed at the height of Covid, is significantly out of kilter with nearby lettings of over £200 per sq ft
Opportunity to capture substantial reversion in the immediate term once both rent reviews are settled

Property overview

16 Berkeley Street comprises 40,024 sq ft of office and retail accommodation arranged over basement, ground and seven upper floors.

The property was developed in 2003 to create contemporary commercial accommodation with a façade that remains in keeping with the immediate vicinity.

The offices benefit from a modern reception area, fully accessible raised floors, three passenger lifts serving all floors, shower facilities and dedicated WCs on every floor. Whilst many surrounding assets are constrained within period features, 16 Berkeley Street benefits from exceptionally well configured, column-free, uniform floorplates – a rare characteristic of properties in this prestigious location.

The gym unit is accessed via an independent reception, leading directly to the basement accommodation which hosts the gym floor and changing facilities, accessible via a staircase and passenger lift.

Berkeley Street sits at the at the heart of Mayfair, connecting Berkeley Square to Piccadilly and placing 16 Berkeley Street within moments of London’s finest retail, dining, hospitality and culture.

16 Berkeley Street benefits from exceptional transport connectivity, with four Underground stations within a 10-minute walk, providing access to six of London’s most important lines, Victoria, Jubilee, Piccadilly, Bakerloo, Central and Elizabeth.