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95 Wigmore Street, Duke Street elevation.

95 Wigmore Street, Duke Street elevation.

12. January 2014
95 Wigmore Street, front elevation.

95 Wigmore Street, front elevation.

12. January 2014
Color palette on 95 Wigmore Street building.

Color palette on 95 Wigmore Street building.

12. January 2014
95 Wigmore Street, Duke Street elevation.

95 Wigmore Street, Duke Street elevation.

12. January 2014
View to 95 Wigmore Street from Duke Street.

View to 95 Wigmore Street from Duke Street.

12. January 2014
95 Wigmore Street entrance on Wigmore Street.

95 Wigmore Street entrance on Wigmore Street.

12. January 2014
95 Wigmore Street after completion in 2014.

95 Wigmore Street after completion in 2014.

12. January 2014
95 Wigmore Street in November 2012.

95 Wigmore Street in November 2012.

10. November 2012
The development has been branded 95 Wigmore Street.

The development has been branded 95 Wigmore Street.

10. November 2012
79-97 Wigmore Street

79-97 Wigmore Street

February 2012
79-97 Wigmore Street

79-97 Wigmore Street

February 15, 2012 Click to view larger image
79-97 Wigmore Street

79-97 Wigmore Street

February 15, 2012
79-97 Wigmore Street

79-97 Wigmore Street

June 7, 2011
79-97 Wigmore Street being demolished.

79-97 Wigmore Street being demolished.

June 7, 2011

95 Wigmore Street

Address:
95 Wigmore Street, London W1U 1QW
Type:
Mixed use
Completion:
July 2013
Area:
112,700 sq ft
Flats:
11
Viewed:
17094

Description of 95 Wigmore Street

95 Wigmore Street is a mixed use building in Marylebone, London W1.

The 112,700 sq. ft. building provides 82,300 sq. ft. of offices, 17,900 sq. ft. of retail space in 7 units and 12,500 sq. ft. of residential accommodation.

Connected Companies

Main Contractor:

News: (7)

The Great Wigmore Partnership, the 50/50 Joint Venture between Great Portland Estates plc and Aberdeen Asset Management, has announced that it has sold 95 Wigmore Street for a price of £222.4 million reflecting a net initial yield of 3.4% and a capital value of £2,209 per sq. ft.. UBS Global Asset Management’s real estate business in the UK purchased the property.

95 Wigmore Street is a 98,800 sq. ft. newly constructed office (83% by area) and retail building completed in 2013. The sale also includes an additional building known as 35 James Street (incorporating Browning Court and 2 Picton Place) totalling 1,882 sq. ft.. The office accommodation is multi let at rents ranging from £77.50 per sq. ft. to £92.50 per sq. ft.. The total contracted rental income is £8.1 million per annum and the current weighted unexpired lease term is approximately 10.5 years.

Toby Courtauld Chief Executive of GPE said, "The sale of 95 Wigmore Street is the culmination of an exceptional development project for GWP, with the office accommodation fully let only six weeks after practical completion. The sale continues our strategy of recycling capital out of assets where we have created significant value and back into our portfolio of central London development and refurbishment projects, timed to coincide with a shortage of new Grade A space to let”.

Nick Ireland Head of UK Property Segregated Fund Management of Aberdeen commented “This sale is in line with the strategy to realise profit from mature assets where the business plan has been completed. The relationship with GPE has been an extremely successful one and the high quality of 95 Wigmore Street is a testimony to this.”

27/04/2015 13:09 by Buildington

New photos!

12/01/2014 18:48 by Buildington

The Great Wigmore Partnership has let the last floor in the recently completed 95 Wigmore Street. The 82,300 sq. ft. office space is now fully let six weeks after practical completion.

The 12,890 sq. ft. fourth floor has been let to Pyrford International (“Pyrford”), joining Lane Clark & Peacock (40,000 sq. ft.) and Bridgepoint Advisers Limited (29,477 sq. ft.) in the building. Pyrford, a leading asset management firm, will take a ten year lease, with a tenant only option to break after 7 years, paying a rent of £1,192,325 per annum, equating to £92.50 per sq. ft. after an initial rent free of 12 months, with a potential additional rent free of 3 months if the option to break is not exercised. The 112,700 sq. ft. project provides 82,300 sq. ft. of offices, 17,900 sq. ft. of retail space in 7 units and 12,500 sq. ft. of residential accommodation.

Commenting on the transaction, Neil Thompson, Portfolio Director of GPE said, "The quality of this development has been endorsed by the fact that all 82,300 sq. ft. of offices have been let within six weeks of completion to high calibre West End occupiers.”

Source: Great Portland Estates gpe.co.uk

03/09/2013 14:26 by Buildington

The Great Wigmore Partnership, a 50:50 joint venture between Great Portland Estates plc ("GPE") and SWIP-Real Estate, announces that it has pre-let 29,447 sq. ft. of office space to Bridgepoint Advisers Limited (“Bridgepoint”) in its development at 95 Wigmore Street, London W1.

This is the second pre-let in the building after Lane Clark & Peacock leased 40,000 sq. ft. in November 2012 and leaves only one office floor of 12,890 sq. ft. available.

Works to complete 95 Wigmore Street are currently on site and practical completion is scheduled for July 2013. The 112,700 sq. ft. project will provide 82,300 sq. ft. of offices, 17,900 sq. ft. of retail space in 7 units and 12,500 sq. ft. of residential accommodation.

Bridgepoint, the leading private equity firm, will occupy the fifth to seventh floors of the building and will take a fifteen-year lease, with a tenant only option to break after 10 years, paying rent of £2,661,000 per annum, equating to an average of £90.40 per sq. ft. Bridgepoint will receive an initial rent free from their lease commencement of 18 months, with additional rent free of 8 months if the option to break is not exercised.

Commenting on the transaction, Neil Thompson, Portfolio Director of GPE said, "This further pre-letting in the building means the office space is close to being fully let prior to completion. Occupiers such as Bridgepoint and Lane Clark & Peacock strongly endorse 95 Wigmore Street as a high quality West End development and we have good interest in the remaining office, retail and residential space".

Source: Great Portland Estates

19/04/2013 13:37 by Buildington

The Great Wigmore Partnership ("GWP"), a 50:50 joint venture between Great Portland Estates plc ("GPE") and Scottish Widows Investment Partnership, announces that it has pre-let 40,000 sq. ft. to Lane Clark and Peacock LLP (“LCP”) in its development at 95 Wigmore Street, London W1.

Works to complete the development are currently on site and practical completion is scheduled for June 2013. The 111,200 sq. ft. project will provide 82,300 sq. ft. of offices, 16,400 sq. ft of retail space and 12,500 sq. ft. of residential.

LCP, the leading firm of financial, actuarial and business consultants, will occupy the first to third floors in the nine-storey building and will take a fifteen-year lease, paying a total of
£3,100,000 per annum, equating to an average of £77.50 per sq. ft. for the office space. GWP will handover this space to LCP in March 2013, allowing LCP’s lease to start and giving them the ability to commence their fit out before practical completion of the building. LCP will receive 28.5 months’ rent free from their lease commencement.

Commenting on the transaction, Neil Thompson, Portfolio Director of GPE said, "This pre-letting of close to half of the office space in the building is further good letting business for GPE following the pre-lets we concluded with Savills at 33 Margaret Street, W1 and UBM at 240 Blackfriars Road, SE1, earlier this year. We are looking forward to welcoming LCP on completion of their fit-out in the summer next year. 95 Wigmore Street will be a prominent, high quality West End building and we have good interest in the remaining space".

Source: Great Portland Estates

28/11/2012 15:35 by Buildington

New photos!

15/02/2012 19:24 by Buildington

New in Buildington! Mixed use development on Wigmore Street.

10/06/2011 15:11 by Buildington

*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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