Jones Lang LaSalle, Savills and Whitmarsh Holt Young have been instructed to sell Harcourt House, Cavendish Square London, W1 on behalf of clients of LaSalle Investment Management.
The elegant six storey 63,000 sq ft building dominates the west side of Cavendish Square and offers spectacular views over London from the top floor. Originally developed as a residential mansion block in 1907, the property now boasts a number of residential, office and medical suites, and offers vacant possession in December 2015.
The sale gives investors an increasingly rare opportunity to purchase a substantial freehold on a garden square in the heart of the West End. With three years of income and a mix of tenants the building will appeal to a wide range of global investors seeking access to prime Central London real estate. Demand for prime addresses, where conversion back to residential is a real possibility, within Westminster are particularly sought after as end residential values have shown significant recent growth.
Significant competition is anticipated for the asset which will appeal to commercial investors and high-end residential developers alike. In addition the proximity to Harley Street and the garden square address will mean that interest is likely from both owner occupiers and medical users.
Offers in excess of £60 million are invited, for the freehold interest.
Source: Jones Lang LaSalle www.joneslanglasalle.co.uk