Upper Wimpole Street, London, W1G

LOCATION
Situated on Upper Wimpole Street, between Weymouth Street and Devonshire Street, this medical building is located within the heart of London's Medical District. The property is within easy walking distance of numerous
Underground Stations and benefits from 'Pay by Phone' parking directly outside the building.

DESCRIPTION
The available medical space, over lower ground to first floors, comprises a range of consulting, treatment and ancillary rooms in a well maintained medical building. The second to fourth floors comprise residential flats which have been sold off on long leases.

The building is currently configured to provide a manned reception and waiting room on the ground floor with an additional waiting area in the lower ground floor.

AMENITIES
A wide range of consulting, treatment and ancillary rooms, a manned reception, shared waiting room, further waiting areas throughout the building.

LEASE
The property is held under the terms of a long lease expiring 16 June 2079 (approximately 57.75 years remaining) at a current rent of only £192,500 p.a., (£53.95 per sq ft) payable quarterly in advance. The lease provides for rent reviews every 10th year of the term with the next rent review not due until March 2030.

BUSINESS RATES - To be re-assessed

EPC - TBC

VAT - The property is not elected for VAT

OPPORTUNITY
We are instructed to invite offers in the region of £250,000 for this valuable long leasehold interest with a rent passing considerably below market rent. The lease can be purchased subject to a leaseback to the vendor for up to three years on terms to be agreed, or subject to the existing subtenancies, a schedule of which can be provided to interested parties.