181-185London W1

Wardour Street

INVESTMENT SUMMARY

Situated on one of Soho’s most iconic streets and one of London’s prime leisure, retail and office addresses.

Mixed use building

Prominent corner restaurant (A3) with a return frontage onto Noel Street.

Upcoming restaurant rent review due in 2018. September 2013 rent review still under negotiation.

Offices let to Blink Productions (currently holding over on low reversionary passing rents).

Residential penthouse apartment on 4th floor let on an Assured Shorthold Tenancy.

Planning Permission granted to create 7 residential apartments and increasing the overall massing by extending the 4th floor and building a further 5th floor extension.

The building is set to benefit from the increased footfall of the new Crossrail entrance to Tottenham Court Road Station opening in 2018 which is moments away.

Total current NIA of 977.52 sq m, 10,522 sq ft.

Entrances to offices on Wardour Street & Noel Street.

Property Consultants

CITY SOUTH BANKTOTTENHAMCOURT ROAD

OXFORD STREET

WARDOUR STREET

SOHO SQUARE

CROSSRAIL

181-185London W1

Wardour Street

THE BRITISH MUSEUM

LINCOLN’S INN FIELDS

OLD COMPTON STREET

LISLE STREET

FRITHSTREET

GREEKSTREET

ROMILLYST

WARDOUR

STREET

HOPKINSST

JERMYN STREETHILL

STREET

ALBEMARLE STREET

DOVERSTREET

SAVILEROW

MOUNT STREET

GREEN STREET

BELV

EDER

ERO

AD

WHITEHALL PLACE

CARLTON HOUSE TERRACE

STABLE YARD

WEST HALKIN STREET

NEWM

ANSTREET

BERNERSSTREET

GTPORTLAND

STREET

GREATTITCHFIELD

ST

MARYLEBONELANE

HARLEYSTREET

WIM

POLESTREET

WELBECK

STREET

BLANDFORD STREET

TAVISTO

CK STREET

DRURY LANE

DRURY LANE

LONG ACRE

CHANDOS PL

MAIDEN LANE

STM

ARTIN’SLAN

E

SHORTS

GARDENS

GREAT QUEE

N STREET

BEDFORD

SQUARE GREAT RUSSELL STREET

EAGLE STREET

PETTY FRANCEBROADWAY TOTHILL STREET

GREATCAHPEL

ST

THE MALL

STRAND

WATERLOO

BRIDGE

GLOUCESTERPLACE

MARYLEBONE

HIGHSTREET

YORK

ROAD

HIG H HOLBORN

REGENT STREET

BELGRAVE

SQUARE

VICTORIA STREET

PORTLAND PLACE REGENT STREET

CARNABY STREET

GT MARLBOROUGH STREET

BERKELEY

SQUARE

BERKELEYSTREET

BREWER STREET

DEANSTREET

CURZON STREET

LEXINGTONSTREET

BERWICK

STREET

RUPERT STREET

BRUTON STREET

CONDUIT

STRE

ET

OXFORD STREET

OXFORD STREET

NEW OXFORD STREETHIGH HOLBORN

PETER ST

SLOANESTREET

EMBA

NKM

ENT

BUCK

INGH

AMPALACE RD

BIRDCAGE WALK

PICCADILLY

PICCADILLY

SHAF

TESB

URYAVENUE

ST JAMES’S STREET

PALL MALL

COCKSPUR ST

GROSVENOR STREET

PARK LANE

PARK LANE

CONSTITUTION HILL

HORSEGUARDS

RD

WHITEHALL

WESTMINSTER BRIDGE

NORTHUMBERLAND AVENUE

SOUTHAMPTON

ROW

TOTTENHAMCOURT ROAD

GOWER

STREET

CHARINGCROSS

ROAD

THEOBALDS ROAD

BAKERSTREET

WIGMORE STREET

CAVENDISH PLACEMOR TIMER STREET

ALDWYCH

GOLDENSQUARE

SOHO

SQUARE

HERTFORD STREET

FLO

RAL ST

REET

HAYMARKET

REGENTSTREET

CLARGES STREET

BUCKINGHAMPALACE

PARKSTREET

RICHMOND TERRACE

KING CHARLES ST

GROVSVENOR PLACE

KNIGHTSBRIDGE

GEORGE STREET

NEW CAVENDISH STREET

GARRICKSTREET

KING ST

ENDELL ST

BOW STREET

ORANGE STREET

PORTLAND SQUARE

CAVENDISHSQUARE

HANOVERSQUARE

JUBILEEGARDENS

LEICESTERSQUARE

COVENTGARDENMARKET

BLOOMSBURYSQUARE GARDENS

HORSEGUARDSPARADE

TRAFALGAR SQUARE

GREEN PARK

BONDSTREET

PICCADILLYCIRCUS

HYDE PARKCORNER

ST JAMES’SPARK

WESTMINSTER

VICTORIA

CHARING CROSS

TEMPLE

WATERLOO

HOLBORN

OXFORDCIRCUS

GOODGESTREET

HYDE PARK

GREEN PARK

ST JAMES’S PARK

MARBLEARCH

ST JAMES’S

SQUARE

COVENTGARDEN

LEICESTERSQUARE

EMBANKMENT

TOTTENHAMCOURT RD

181-185London W1

Wardour Street

This mixed use building is located in the lively heart of Soho, London’s world – famous food, retail and creative industry district. As well as the traditional TMT (technology, media and telecommunications) office occupiers such as Nike, Twitter, Sony, 20th Century Fox and M&C Saatchi, there has been a steady influx of financial occupiers looking to take advantage of Soho’s well located and vibrant amenities.

With the world famous retail locations of Carnaby Street, Oxford Street and Regent Street within close walking distance, the area is also known for its trendy restaurants and bar scene as well as a thriving nightlife. Prominent occupiers in the area include the Dean Street Townhouse, Soho House, Barofino, Quo Vadis, Polpo and Burger & Lobster.

As a residential location Soho is one of the most fashionable addresses in London with current residents following the footsteps of Karl Marx, Mozart, Eric Clapton and Simon Pegg among others. Additionally famous institutions such as the Groucho Club, Ronnie Scott’s and the Colony Club have been a major draw for past and present Soho residents.

Location

THE BRITISH MUSEUM

LINCOLN’S INN FIELDS

OLD COMPTON STREET

LISLE STREET

FRITH STREETGREEK STREET

ROMILLY ST

WARDOUR STREET

HOPKINS ST

JERMYN STREETHILL

STREET

ALBEMARLE STREET

DOVER STREET

SAVILE ROW

MOUNT STREET

GREEN STREET

BELV

EDER

ERO

AD

WHITEHALL PLACE

CARLTON HOUSE TERRACE

STABLE YARD

WEST HALKIN STREET

NEWM

ANSTREET

BERNERSSTREET

GTPORTLAND

STREET

GREATTITCHFIELD

ST

MARYLEBONELANE

HARLEYSTREET

WIM

POLESTREET

WELBECK

STREET

BLANDFORD STREET

TAVISTO

CK STREET

DRURY LANE

DRURY LANE

LONG ACRE

CHANDOS PL

MAIDEN LANE

ST MARTIN’S LAN

E

SHORTS

GARDENS

GREAT QUEE

N STREET

BEDFORD

SQUARE GREAT RUSSELL STREET

EAGLE STREET

PETTY FRANCEBROADWAY TOTHILL STREET

GREAT CAHPEL ST

THE MALL

STRAND

WATERLOO

BRIDGE

GLOUCESTERPLACE

MARYLEBONE

HIGHSTREET

YORK

ROAD

HIG H HOLBORN

REGENT STREET

BELGRAVE

SQUARE

VICTORIA STREET

PORTLAND PLACE REGENT STREET

CARNABY STREET

GT MARLBOROUGH STREET

BERKELEY

SQUARE

BERKELEY STREET

BREWER STREET

DEAN STREET

CURZON STREET

LEXINGTON STREETBERW

ICK STREET

RUPERT STREET

BRUTON STREET

CONDUIT

STRE

ET

OXFORD STREET

OXFORD STREET

NEW OXFORD STREET HIGH HOLBORN

PETER ST

SLOANESTREET

EMBA

NKM

ENT

BUCK

INGH

AMPALACE RD

BIRDCAGE WALK

PICCADILL

Y

PICCADILLY

S

HAFT

ESBU

RY AVENUE

ST JAMES’S STREET

PALL MALL

COCKSPUR ST

GROSVENOR STREET

PARK LANE

PARK LANE

CONSTITUTION HILL

HORSEGUARDS

RD

WHITEHALL

WESTMINSTER BRIDGE

NORTHUMBERLAND AVENUE

SOUTHAMPTON

ROW

TOTTENHAMCOURT ROAD

GOWER

STREET

CHARING CROSS ROAD

THEOBALDS ROAD

BAKERSTREET

WIGMORE STREET

CAVENDISH PLACEMOR TIMER STREET

ALDWYCH

GOLDEN SQUARE

SOHO

SQUARE

HERTFORD STREET

FLO

RAL S

TREE

T

HAYMARKET

REGENT STREET

CLARGES STREET

BUCKINGHAMPALACE

PARKSTREET

RICHMOND TERRACE

KING CHARLES ST

GROVSVENOR PLACE

KNIGHTSBRIDGE

GEORGE STREET

NEW CAVENDISH STREET

GARRICK STREET

KING ST

ENDELL ST

BOW STREET

ORANGE STREET

PORTLAND SQUARE

CAVENDISHSQUARE

HANOVERSQUARE

JUBILEEGARDENS

LEICESTERSQUARE

COVENTGARDENMARKET

BLOOMSBURYSQUARE GARDENS

HORSEGUARDSPARADE

TRAFALGAR SQUARE

GREEN PARK

BONDSTREET

PICCADILLY CIRCUS

HYDE PARKCORNER

ST JAMES’SPARK

WESTMINSTER

VICTORIA

CHARING CROSS

TEMPLE

WATERLOO

HOLBORN

OXFORDCIRCUS

GOODGESTREET

HYDE PARK

GREEN PARK

ST JAMES’S PARK

MARBLEARCH

ST JAMES’S

SQUARE

COVENTGARDEN

LEICESTERSQUARE

EMBANKMENT

TOTTENHAMCOURT RD

181-185London W1

Wardour Street

Situation

The property is situated on a highly visible corner position at the junction of Wardour Street and Noel Street.

Wardour Street is home to a number of notable food and drink operators such as Starbucks, Wasabi, Wahaca, and Pret a Manger with a mix of independent favourites such as 100 Wardour Street, The Breakfast Club and TAP Coffee contributing to the lively tenant profile mix.

Crossrail

The building is very well connected with Oxford Circus, Piccadilly Circus, Tottenham Court Road and Leicester Square underground stations within close walking distance.

In 2018, Tottenham Court Road Station will be served by Crossrail, to be known as the ‘Elizabeth Line’ which will dramatically increase access and visitor numbers to the area, serving circa 200 million people annually. The new entrance to the Crossrail Station on Dean Street will be moments from 181-185 Wardour Street, which should directly expose the restaurant to the passing foot flow from the station.

CROSSRAIL

HEATHROWAIRPORT

BOND STREET

PADDINGTON TOTTENHAMCOURT ROAD

FARRINGDON LIVERPOOLSTREET

Property ConsultantsJunction of Oxford Street & Wardour Street

181-185London W1

Wardour Street181-185London W1

Wardour Street

181-185London W1

Wardour Street

181-185 Wardour Street occupies a prominent corner site with a restaurant (with A3 use) on Ground Floor andBasement, offices above on 1st-3rd floors and a residential apartment on the 4th floor.

Access to upper floors via entrances on Wardour Street and Noel Street. All floors have lift access.

The restaurant space comprises a prime retail corner unit with A3 (restaurant) use, let to JD Wetherspoon who have in turn sublet to Chipotle Mexican Grill.

The Property

Accommodation

Floor/Unit Use Size (Sq M) Size (Sq Ft)

Ground Restaurant (A3) 178.5 1,921

Basement Restaurant (A3) 206.8 2,225

Restaurant Total: 385.3 4,146

1st Office 178.8 1,924

2nd Office 168.5 1,813

3rd Office 71.8 773

3rd Mezz Office 105.4 1,135

Office Total: 524.45 5,645

4th Residential 68.7 739

Total: 977.52 10,522

Shop Dimensions Metres Feet

Gross Frontage 22.59 74

Net Frontage 10.46 34

Shop Depth 18.03 59

Shop Width 14.45 47

Floor plans available on request.

Development Potential and Planning

The property is situated within the London Borough of Westminster.

Planning Permission was granted in December 2015 for the use of the first to fifth floors as seven residential units. This included the permission to increase the massing with the erection of a roof extension (at fifth floor level) and the creation of terraces on the upper levels and cycle storage and plant in the basement.

Proposed plans and information available on request.

Property Consultants

Floor/Unit Tenant Use Start Date Expiry Date Term Rent (£ pa) Rent (£ psf)

Ground &Basement

JD Wetherspoon (Sub-let to Chipotle

Mexican Grill Inc)

Restaurant (A3)

23/11/93 27/09/23 30 yrs £195,000*

* 2013 rent review still under negotiation. Next rent review due 2018

1st & 2nd Blink Productions Ltd Office 24/08/04 31/08/14 Holding Over £114,000

3rd /181 Blink Productions Ltd Office 22/09/06 16/09/11 Holding Over £20,500

3rd /185 Blink Productions Ltd Office 10/12/09 08/01/13 Holding Over £40,000

4th Assured Shorthold Tenancy (AST)

Residential Holding Over £16,800

£386,300

Year to Date Turnover Pre Tax Profit Shareholder’s Funds

Employees

26/07/2015 £1,513,923,000 £58,732,000 £222,893,000 34731

27/07/2014 £1,409,333,000 £78,365,000 £227,168,000 32635

27/07/2013 £1,280,929,000 £57,143,000 £214,915,000 29471

Tenancy Information

Tenants Covenants

The lease on the restaurant is held by JD Wetherspoon Plc and sub-let to Chipotle Mexican Grill UK Limited (guaranteed by Chipotle Mexican Grill Incorporated).

JD Wetherspoon:Creditsafe score 84 AThis is based upon the company’s latest industry classification, todays rating of 84 places the company in the upper 25% of 13,246 companies sampled from the same industry. This score means that JD Wetherspoon have a Very Low Risk rating. This is also the case on the International score which is A = Very Low Risk.

Chipotle Mexican Grill UK LimitedCreditsafe score 26 DThis is based upon the company’s latest industry classification, todays rating of 26 places the company in the lower 29% of 13,246 companies sampled from the same industry. This score means that Chipotle Mexican Grill UK Limited have a High Risk rating. This is also the case on the International score which is D = High Risk.

Year to Date Turnover Pre Tax Profit Shareholder’s Funds

Employees

31/12/2015 £8,192,487 -£4,767,925 £1,230,755 149

31/12/2014 £7,330,857 -£3,435,305 £5,910,331 134

31/12/2013 £5,992,391 -£3,275,090 £5,341,297 128

Key Financials

Key Financials

Chipotle Mexican Grill Incorporated Creditsafe score 90 A

This is based upon the company’s latest industry classification, todays rating of 90 places the company in the highest 10% of 13,246 companies sampled from the same industry. This score means that Chipotle Mexican Grill Incorporated have a Very Low Risk rating. This is also the case on the International score which is A = Very Low Risk.

Blink Productions Limited

Creditsafe score 61 B

Based upon the company’s latest industry classification, todays rating of 61 places the company in the middle to upper 25% of 8,711 companies sampled from the same industry. This score means that Blink Productions Limited have a Low Risk rating. This is also the case on the International score which is B = Low Risk.

12/31/2015 12/31/2014 12/31/2013

Net Revenue/Sales $4,501,223,000 $4,108,269,000 $3,214,591,000

EBITDA $907,151,000 $828,250,000 $635,525,000

Net income $475,602,000 $445,374,000 $327,438,000

Fixed Assets $1,217,220,000 $1,106,984,000 $963,238,000

Long Term Investments

$622,939,000 $496,106,000 $313,863,000

Cash $248,005,000 $419,465,000 $323,203,000

Total Shareholders Equity

$2,127,974,000 $2,012,369,000 $1,538,288,000

Key Financials

Key Financials

Year to Date Turnover Pre Tax Profit Shareholder’s Funds

Employees

31/05/2015 £19,446,467 £781,064 £1,081,022 34

31/05/2014 £20,052,615 £698,507 £1,060,041 24

31/05/2013 £14,446,765 £191,002 £1,084,262 22

181-185London W1

Wardour Street

TenureFreehold

VATThe building is elected for VAT.

Price On Application

Title Plan

Property Consultants

D'Arblay Street

21

11

14

2

18

11

9 110

148

3

171

60

149

72

12

13

12

181

21

19

51

89

2275 5

154

10

16

46

17

189

193

19

6

5

2

195

201

77 31

49

167

77a 31a

169

23

185

22

39a

41

23

2773

20

6a

5a

4

197

203

129

143

46

7

55

137

49

52

48

47

PolandStreet

Berwi

BerwickStreet

BerwickStreet

Hollen Street

Wardour Street

Wardour Street

D'Arblay Street

16

13

Retail

Retail

199

187

611

31

175

20

183

71

70

18

569

7-12 Waverley House

14

68

21

121a

177

24

191

15

147

145

59

30

7648

3347

3425

3528

29 36

32

15

43

42

179

44

2627

13

45

Wardour M

Retail

24

40-40a

143

51

58a

45a

139

50

58

45

139

Paramount

House

53-54

143

25

Retail

Noel Street

127

2

22

7

21

21

8

21

12

9

2

9

142

9

3

Great C

hapel Street

at Chapel Street

anStreet

Great Chapel Street

Sheraton Street

College

Saint Patricks

94

95

GroupNovas

130

157 136

159

3

93

15

132

140

17

16

6

20

16

10

C

13

14

18

12

13a

15

0m 10m 20m 30m

© UKMap Copyright The GeoInformation Group 2017 Licence No. LANDMLON100003121118. Plotted Scale - 1:1250

For further information or to arrange an inspection, please contact:

Please note that all floor areas have been recorded by Plowman Craven. Purchasers are advised to verify all floor areas and satisfy themselves in that respect.

Misrepresentation Act 1967. These particulars are intended only to give a fair description of the property and do not form the basis of a contract or any part thereof. These descriptions and all other information are believed to be correct but their accuracy is in no way

guaranteed (January 2017).

Design and production by Oracle Creative www.oraclecreative.co.uk

Ben BlaustenT 0207 927 6331E ben@rib.co.uk

Damien Field T 0207 927 0620

E damien@rib.co.uk

Property Consultants