Prime Resi: #25m Soho block offered for prime residential conversion
Fri 06 Nov 2015
Hermes Investment Management has put a freehold office block on Broadwick Street in the heart of Soho up forsale, complete with detailed planning permission for apartments.
20-24 Broadwick Street (also frontage onto Berwick Street) was, until recently, home to high finance publishinghouse Incisive Media, and sits next-door to United House and Barratts Soho 13 luxury project. Its now beingoffered via Michael Elliot for something around the 25m mark, with options to keep office space in play or to doa very well-located prime resi development job.
At present, the building amounts to 22,548 square feet of internal space (giving a per square foot sale price of1,123); Westminster has approved RPP-designed plans submitted by Marsh & Parsons on behalf of the ownerfor 2,500 square feet of retail space on the ground floor plus 24 resi units on first-to-eighth floors (five studios,nine one-bed, four two-bed and six three-bed flats) with 19,000 square feet of net saleable area, and a new(*better) facade for the whole thing.