Key Details

Overview

Marcol House is a commercial building at 289-293 Regent Street, 295 Regent Street and 33 Margaret Street in London W1.

The existing buildings on the site are 289-293 Regent Street (Marcol House) and 295 Regent Street, both of which are grade II listed buildings, and 33 Margaret Street. Marcol House and 295 Regent Street comprise five commercial storeys with a double mansard roof. 33 Margaret Street varies in height between three and five storeys. [1]

2011 - Construction commenced.
2011 December - First pre-let secured for 64,150 sq ft.
2012 March - Second pre-let secured for remainder of building. International real estate adviser Savills takes a new pre-let at 33 Margaret Street for occupation in early 2013. Savills will move its West End teams, currently based at offices in Lansdowne House and Grosvenor Hill, to the new premises in early 2013. It will occupy the majority of the building taking five floors, equating to circa 64,000 sq ft (5,945 sq m).

2012 December - Building completed and the leases commenced.

Project statistics:
- 79.8% Profit on cost
- 49.8% Project ungeared IRR
- £73.25 Average office rent per sq ft
- £7.0 million Pre-let office rent
Source: Annual Report 2013 Great Portland Estates

Sources:
- [1] london.gov.uk
- Great Portland Estates www.gpe.co.uk