Broadbent House, 64-65 Grosvenor Street, W1All Properties
Broadbent House was originally acquired by Benchmark in 1998 as a 23,000 sq ft retail and multi-let office building. The asset later became a seed asset for WELPUT.
The team obtained planning permission for a 31,000 sq ft grade A office and retail development scheme behind a retained façade, utilising a split core and providing office floor plates with glazing on four sides. Rights of light agreements were signed with neighbours and a development agreement and headlease regear were agreed with the Grosvenor Estate.
Following completion of the works - which were delivered 4% below budget for £11.6 million – and a successful letting campaign which achieved rents of up to £110psf, the building was sold for £37 million in 2010.
|Client:||Benchmark PLC / WELPUT|
|Village:||Mayfair & St. James’s|
|Uses:||Offices & Retail|
|Size:||35,000 sq ft (3,200 sq m)|
|Status:||Completed and Sold|
|Freeholder:||The Grosvenor Estate|
Broadbent House, 64-65 Grosvenor Street, W1