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203-207 NORTH GOWER STREET, LONDON NW1A CENTRAL LONDON UNBROKEN RESIDENTIAL INVESTMENT OPPORTUNITY
INVESTMENTSUMMARY
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Unbroken freehold block of 12 residential units in a Prime Central London location close to London Euston Station and other central landmarks including Regents Park and Madame Tussauds
Arranged as 12 highly specified apartments as follows:
3 x 1 bed 5 x 2 bed 4 x 3 bed
Total Net Saleable of 8370 ft2
There is a lift in the building as well as a rear service yard
Further redevelopment potential Subject to Planning
Currently occupied by Anglo Educational Services Ltd on a 10 year lease from September 2010 – thus having approximately 4.83 years remaining
Current Income - £289,000pa with fixed yearly increases for the remaining term of the lease
Price – Offers In Excess of £8,000,000 which equates to a capital value of £955/ft2 and a NIY of 3.43% after assuming purchasers costs of 5.3% (3.5% SDLT approx. under new guidelines and 1.8% to include professional fees and associated costs)
Over the next four years with the stepped increases, a buyer will benefit from the following yield profile:
2016 – 3.49% 2017 – 3.55% 2018 – 3.61% 2019 – 3.67%
R I V E R T H A M E S
BLOOM SBURY
MA YFA IR
F ITZROVIA
ST JAM ES ’ S
ST JAM ES ’ SPARK
GREENPA RK
HY DEPARK
SOH O/COVENT GARD EN
VICTORIA
SOUTHB ANK
MIDTOWN CITY
SHOREDITCH
ALDGATE/WHITECHAPEL
FAR RINGDON/CLER KENWELL
R EG ENT ’SPAR K
egdirB srairfkcalBdaoR srairfkcalB
Waterloo Bridge
Lond
on B
ridge
Towe
r Brid
ge
Sout
hwar
k Br
idge
egdirB muinnelli
M
Marylebone Road
Euston Road
Ham
pstead Road
Stanhope Street
Albany Street
Robert Street
AugustusStreet
Outer Circle
Oxford Street
Grosvenor Street
Brook Street
Mount Street
New Bond Street
Old Bond Street
Berkeley Square
South Audley Street
St James’s Street
Oxford Street
Shaftesbury Avenue
Piccadilly
Piccadilly
Jermyn Street
Pall Mall
The Mall
High Holborn
Great Russell Street
High Holborn
Holborn
Tudor Street
Lincoln Inn Fields
New Fe
tter L
ane
Portland Place
Great Portland Street
Gower Street
Drummond Street
Tottenham Court Road
Eversholt Street
Whitfield Street
Regent Street
Regent Street
Wardour Street
Charing Cross Road
Haymarket
Kingsway
Drury Lane
Long
Acre
Southampton Row
Russell Square
Cleveland Street
Mortimer Street
New Cavendish Street
Cavendish Place
Howland Street
Grays Inn Road
Farringdon Road
Farringdon RoadFarringdon Street
Regent Square
Tavistock Place
Guilford Street
Theobald’s Road
Hunter Street
Vict
oria
Em
bank
men
t
Strand
Fleet Street
Victoria Embankment
Stamford Street
York Road
Southwark Street
Park Street
Holland Street
Stoney Street
TooleyStreet
Upper Thames Street
Queen Victoria Street
London Wall
Chiswell Street
Banner Street
Bunhill Row
Moor LaneCharterhouse Street
Long Lane
Hatton Garden
St. John Street
Chancery Lane
London Wall
Brushfield Street
Middlesex Street
Wils
on S
treet
Paul
Stre
et
Worship Street
teertS drawdE gniK
Old
Bai
ley
Newgate Street
Lower Thames Street
Cannon Street
Eastcheap
Cornhill Leadenhall Street
Threadneedle Street
Bevis Marks
Houndsditch
Minories
Fenchurch Street
Lombard Street
Poultry
Cheapside
Gresham Street
Moo
rgat
e
Grac
echu
rch
Stre
et
Bish
opsg
ate
Commercial Street
Great Eastern Street
City Road
Old Street
Old Street
Clerkenwell Road
Percival Street
Compton Street
Radnor Street
Lever Street
Gosw
ell Street
Aldersgate Street
King William
Street
FinsburyCircus
FinsburySquare
Barbican
Beech Street
SohoSquare
St James’sSquare
Square
Green Park
Aldwych
GlobeTheatre
TateModern
TheShard
Bank ofEngland
St Paul’sCathedral
Tower42
Swiss Re
Lloyd’sBuilding
Gt Ormond Street Hospital
NationalGallery
NationalPortrait
Selfridges
RoyalOpera House
OldSpitalfields
Market
Royal Courtsof Justice
CoventGarden
The SavoyHotel
BBCBritish
Museum
OxfordCircus
The RitzHotel
PiccadillyCircus
TrafalgarSquare
Tower ofLondon
20 CANNON STREET
High Holborn
New F
ette
r Lan
e
Kingsw
ay
Farring
do
n Street
Farring
do
n Ro
ad
Vic
tori
a E
mb
ankm
ent
Strand
Fleet Street
Victoria Embankment
Blackfriars B
ridg
e
Sout
hwar
k B
rid
ge
Lond
on
Bri
dg
e
Millennium
Brid
ge
Waterloo B
ridge
Stamford Street
Southwark Street
Upper Thames Street
Queen Victoria Street
London Wall
Newgate Street
Lower Thames Street
Cannon Street
Threadneedle Street
Gresham Street
Mo
org
ate
Gra
cech
urch
Str
eetK
ing William
Street
LEICESTERSQUARE
CHARINGCROSS
PICCADILLYCIRCUS
COVENTGARDEN
EMBANKMENT
VICTORIA
BLACKFRIARS
WATERLOO
ELEPHANT& CASTLE
WATERLOOEAST
SOUTHWARK
BOROUGH
LAMBETH NORTH
WESTMINSTER
ST PAUL’S
CITYTHAMESLINK
BARBICAN
ALDGATE
MANSIONHOUSE
TOWER HILL
LONDONBRIDGE
MONUMENT
BANK
TOWERGATEWAY
BOND STREET
OXFORDCIRCUS
REGENT’SPARK
GREATPORTLAND
STREETWARRENSTREET
GOODGESTREET
TOTTENHAMCOURT ROAD
EUSTONSQUARE
GREEN PARK
SLOANESQUARE
HYDE PARKCORNER
ST JAMES’S PARK
KNIGHTSBRIDGE
SOUTHKENSINGTON
MARBLE ARCH
LANCASTER GATE
RUSSELLSQUARE
CHANCERYLANE
TEMPLE
HOLBORN
OLD STREET
SHOREDITCHHIGH STREET
MOORGATE
FENCHURCHSTREET
CANNONSTREET
LIVERPOOLSTREET
FARRINGDON
WHITECHAPEL
KINGS CROSS
EUSTON
ST PANCRAS
NORTH GOWER STREET
LOCATION
The building is ideally located on North Gower Street at the junction with Drummond Street in the ever popular area of Euston. The building is approximately 200 yards from Euston tube and mainline station and a five to ten minute walk from landmarks including Regents Park, Kings Cross St Pancras Station and Madam Tussauds.
Some of London’s major universities including UCL, SOAS and London Business School are also within easy commute from the building, making 203-209 North Gower Street an ideal hub for university students.
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Shard
British Museum
Canary Wharf
The CityEuston Square
EustonKings CrossSt Pancras
203-207 NORTH GOWER STREET
Merseyside
Sta�ord
Runcorn
Liverpool
Carlisle Newcastle
EdinburghGlasgow
Warrington
Bradford
She�eld
Derby
York
Rotherham
Nottingham
Leicester
Stoke
BristolCardi�
Heathrow
Airport
Crewe
ManchesterAirport
Manchester
Leeds
EAST COAST M
AIN LINE
WEST YORKSHIRE
She�eld MeadowhallSOUTH YORKSHIRE
East Midlands Hub
EAST MIDLANDS
Birmingham InterchangeBirmingham
WEST MIDLANDS
Old Oak Common
HS1
London(Euston)
WEST CO
AST MAIN LINE
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London to:
East Midlands Hub
Nottingham Midland
Derby Midland
She�eld Meadowhall
She�eld Midland
Leeds
York
Crewe
Manchester Airport
Manchester
Liverpool
0.51
1.08 1.44
1.31
1.22
2.05
2.12
1.53
1.30
2.24
2.08
2.08
HS2 JOURNEY TIMES CURRENT TIMESHOURS.MINUTES
Birmingham 0.32
1.11
1.09
1.19
1.23
1.24
0.55
1.03
1.08
1.36
HS2 Station
HS2 destination served by HS2 classic compatible services
Core high Speed Network (Phases One & Two)
HS2 connection to existing rail network
Classic compatible services on West Coast Main Line
Classic compatible services on East Coast Main Line
Existing Lines with potential for future connection to HS2
TRANSPORT
The Euston area will be transformed as part of a 15 acre estate redevelopment. As a result Euston Station will become a new “Super Terminal”, similar to Kings Cross St Pancras which will include providing services for the proposed HS2.
HS2 is a planned high speed railway between London Euston, Midlands, Yorkshire and the North West of England which will help connect 8 out of the 10 major cities, particularly benefitting the Midlands and the North. According to a recent report by KPMG, HS2 will help create around £15billion of economic benefits per annum.
It is anticipated that the new station and HS2 will open in 2026.
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DESCRIPTION
203-209 North Gower Street was originally constructed as an Office Building and is arranged over lower ground (with full natural light), ground and three upper floors. Although built during the 1960s, the building was extensively refurbished and converted, including the addition of a further storey, to provide 12 residential units (see schedule). There is vehicular access to a rear service courtyard (accessed via Drummond Street) via an archway entrance.
The building is currently tenanted by a company which runs the building as student accommodation for nearby universities and colleges. The majority of the rooms are twins and triples with some benefitting from en-suite facilities. Each apartment has a large open plan living room and kitchen and are furnished to a high standard.
There is a lift in the building, central heating and the building also benefits from having a high security key-code entry system.
The building is currently arranged as follows:
Flat Floor Description Size ft2
1 LG 2 Bed, 1Bath 700
2 LG 1 Bed, 1 Bath 530
3 LG/G 3 Bed, 1 Bath 770
4 G 2 Bed, 1 Bath 675
5 G 1 Bed, 1 Bath 405
6 1 3 bed 3 bath 1000
7 1 3 bed 3 bath 920
8 2 2 bed 2 bath 665
9 2 1 bed 1 bath 500
10 2 2 bed 2 bath 730
11 3 3 bed 3 bath, roof terrace 790
12 3 2 bed 2 bath, roof terrace 685
TOTAL 8370 ft2*
* These measurements have been provided to us by our clients
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TENANCY
The building is let in its entirety to Anglo American Educational Services Limited, trading as Anglo Educational Services.
Anglo Educational have been managing serviced apartments for over 40 years in Zones 1 & 2 of central London and currently manage over 250 apartments which accommodate students during their 6 week to 3 month internships.
They occupy the building on the following basis:
10 Year Lease from 4th September 2010
Expires 3rd September 2020 thus having approximately 4.83 years remaining
Current passing rent - £289,000pa
The lease allows for fixed increases for the remainder of the term as follows:
7th Year of Term - £294,000pa
8th Year of Term - £299,000pa
9th Year of Term - £304,000pa
10th Year of Term - £309,000pa
The tenant pays all outgoings including council tax
This lease is excluded from sections 24-28 of the Landlord and Tenant Act 1954
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DISCLAIMER
The particulars are set out as a general outline only for the guidance of intended purchasers or lessees and do not constitute or constitute part of an offer or contract. All descriptions, dimensions, reference to condition and necessary
permissions for use and other details are given without responsibility and any intending purchasers or tenants should not rely on them as statements or representations of fact, but must themselves by inspection or otherwise as to the
correctness of each of them. No person in the employment of Estate Office has an authority to make or give any representation or warranty whatsoever in relation to this property. November 2015
020 7266 8500Chaim Aziz
Jerome Colmans
Daniel Minsky
www.cube-design.co.uk (Q3348)
EPCs
Please contact the office.
VAT
Is not applicable to this sale.
TENURE
Freehold
PROPOSAL
Guide Price
Offers In Excess of £8,000,000 which equates to a capital value of £955/ft2 and a NIY of 3.43% after assuming purchasers costs of 5.3% (3.5% SDLT approx. under
new guidelines and 1.8% to include professional fees and associated costs).
Over the next four years with the stepped increases, a buyer will benefit from the following yield profile:
2016 3.49%
2017 3.55%
2018 3.61%
2019 3.67%
![arXiv:1605.03844v2 [physics.ins-det] 27 Oct 2017 · 2017. 10. 30. · oDepartment of Physics and Astronomy, University College London, Gower Street, London WC1E 6BT, United Kingdom](https://img.pdfslide.net/doc/110x75/604329c01a656e088f29426f/arxiv160503844v2-27-oct-2017-2017-10-30-odepartment-of-physics-and-astronomy.jpg)
