Overview

Rent The current passing rent is £1,550,000 per annum exclusive. Terms The property is available by way of an existing effective Full Repairing & Insuring Lease expiring 23rd June 2027, with the next rent review on 24th June 2017 and 5 yearly thereafter. The lease is contacted inside the Security of Tenure and Compensation Provision of the Landlord & Tenant Act 1954, Part II. Rates We understand from the Valuation Office Agency that the Rateable Value for the property is £995,000 and the current Rates Payable are £510,435 pa. The Uniform Business Rate for 2015/2016 is 51.3p. Interested parties are advised to make their own enquiries with the Local Authority for verification purposes.
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Location Description

Oxford Street, in London’s West End, is one of the UK’s busiest and most popular retail destinations providing a diverse and extensive retail offer, boasting Selfridges, John Lewis, House of Fraser, 2x M&S, BHS & Debenhams, along with 5x Zara’s. With over 200 million visitors a year the street and vicinity is reported to generate a retail turnover of £8.8 billion per annum. (Source: New West End Company) The subject unit occupies a strong position on the western section of Oxford Street, between Bond Street Underground Station & Marble Arch Underground Station. Both stations provide an annual footfall of approximately 35.91 million. (Source: London Underground Limited, 2015) The location is north of Mayfair and south of Portman Square, as a result the location attracts international retailer interest from a diverse range of global brands. The location is well accessed being served by London Underground and numerous bus routes: 175,000 people use the bus network on the street each weekday. (Source: Transport for London) The areas accessibility will be further enhanced by Crossrail, which is projected to increase the rail capacity in London by 10%, bringing another 1.5 million people within 45 minutes of the capital. (Source: Crossrail.co.uk)

Sizes and Measurements

Total Size

9,288sqft

Sales Area

0sqft

Net Frontage Width

34 ft 3 in

Sales Width

38 ft 4 in

Shop Depth

102 ft 2 in

Floors Available

Ground Floor

Details

Retail Ground Floor

Status

Available

Available from

Now

Ground Floor

Details

Non-Sales

Size

3,271sqft

Status

Available

Available from

Immediately

Basement

Details

Non-Sales

Size

3,101sqft

Status

Available

Available from

Immediately

First Floor

Details

Non-Sales

Size

2,916sqft

Status

Available

Available from

Immediately

Lease Information & Charges

Lease type

Assignment

For rent

Price On Application
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