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Marcol House

Marcol House

February 15, 2012
Marcol House

Marcol House

December 2012
Marcol House

Marcol House

December 2012
Marcol House

Marcol House

December 2012
Marcol House

Marcol House

December 2012
Marcol House

Marcol House

December 2012

Marcol House

Address:
33 Margaret Street, London W1G 0JD
Type:
Commercial
Completion:
2013
Offices:
1
Viewed:
40883

Description of Marcol House

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

The 0.18 hectare site is located at the corner of Regent Street and Margaret Street, approximately 200 metres north of Oxford Circus. 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

Connected Companies

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News & Comments: (3)

Buildington
2012/12/11 15:04

New photos!

Buildington
2012/03/26 12:41

Great Portland Estates plc (“GPE”) announces that, following the pre-let of the majority of the office space at its redevelopment of 33 Margaret Street, W1 to Savills plc (“Savills”) in December 2011, Savills have now pre-let all the remaining 31,700 sq ft of office space in the building, paying £2.59 million per annum. Savills will now occupy 95,617 sq ft of offices, paying a total of £6.99 million, equating to an average rent of £73.17 per sq ft.

On completion of the building in October this year, Savills will take seven separate twenty year leases on ground to seventh floors, with the tenth year tenant breaks previously agreed in the fourth and part fifth floor leases now removed.

Commenting on the additional pre-letting Toby Courtauld, Chief Executive of GPE said; “We are delighted that Savills have now taken the whole of 33 Margaret Street. This deal continues GPE’s successful run of pre-lettings, taking the total of recent lettings in development properties to over 290,000 sq ft at 33 Margaret Street, 160 Great Portland Street and 240 Blackfriars Road.”

Jeremy Helsby, CEO of Savills plc commented, “This further pre-letting in this high quality building now provides us with the security and flexibility of additional accommodation to satisfy our intended future expansion, whilst also giving us the right to manage and control the building. It is a further endorsement of the strength of the Savills business going forward”.

Source: GPE www.gpe.co.uk

Buildington
2012/02/15 22:24

New in Buildington - commercial development with 13,500 sq ft of offices. Savills has pre-let 5,945m2 and will move its West End teams, currently based at offices in Lansdowne House and Grosvenor Hill, to the new premises in early 2013.

*DISCLAIMER! Information on this page is for guidance only and remains subject to change. Buildington does not sell or let this property. For more information about this property please register your interest on the original website or get in touch with the Connected Companies.

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