Park Square East, Regent's Park, London, NW1

A unique opportunity to acquire one of London’s most extraordinary historic buildings combining exceptional owner-occupier appeal with significant repositioning potential.

Description

Originally conceived in 1823 as Britain’s first purpose-built Diorama, The Diorama has evolved over two centuries into one of London’s most fascinating and historically significant buildings.

EXECUTIVE SUMMARY:
Rare opportunity to acquire a landmark Grade I listed building overlooking The Regent’s Park.
• Striking Regency architecture with exceptional heritage character.
• Impressive double height reception and central internal atrium providing excellent natural light throughout.
• Flexible open plan accommodation extending to 17,047sq ft (NIA), and 22,082sq ft (GIA).
• Offered with full vacant possession.
• Previous resolution to grant planning consent for a comprehensive office redevelopment, additional massing and new roof terrace, subject to a S106 Legal Agreement.
• Significant repositioning and alternative use potential, subject to the necessary consents.
• Dual access arrangement providing operational flexibility.
• Off-street car parking and access to Park Square private landscaped gardens.
• Held long leasehold from The Crown Estate for a term of 125 years expiring in August 2144, at a peppercorn rent, providing approximately 118 years unexpired.
• Offers are invited for 100% of the shares in the company that holds the long leasehold interest, subject to contract.

THE DIORAMA:
Built as an early 19th Century Diorama, the property retains its Regency façade whilst accommodating office use within its open plan internal layout.

The property forms part of a detailed and uniform stucco façade and is inscribed at roof level with ‘Diorama’, sitting slightly taller than the rest of the terrace.

The property provides a grand, double height reception with elegant symmetrical staircases leading to the first floor and benefits from entrances onto both Park Square East and Peto Place.

Entering from Park Square East, the property leads into a three storey brick-built polygonal building which extends into Peto Place. A glass roof covers a triple-height central atrium extending down to the lower ground floor, providing excellent natural light to the centre of each of the three open plan floors. The property benefits from a passenger lift, together with on-site parking.

EXISTING ACCOMMODATION:
The building has been stripped back to a shell condition

PREVIOUSLY CONSENTED DEVELOPMENT SCHEME:
In 2021, The Diorama received a resolution to grant planning permission, subject to a Section 106 Agreement, for a comprehensive refurbishment and repositioning of the building, including change of use from Sui Generis to office use, the creation of a new third floor and roof terrace, and extensive internal remodelling works.
Although the consent has now lapsed, the scheme demonstrates the significant potential to sensitively reposition this landmark building. The consented proposals sought to “peel back” later alterations and reveal the original fabric and spatial hierarchy of the historic Diorama building.

ALTERNATIVE USE POTENTIAL:
Subject to the necessary consents, The Diorama offers significant potential for a variety of alternative uses including:

• Boutique Hotel
• Private Members’ Club
• Luxury Residential
• Educational / Institutional
• Hospitality & Cultural Uses

The building’s large floorplates, exceptional volumes and landmark architectural character provide flexibility for a range of repositioning strategies. Its unique setting opposite The Regent’s Park, combined with its Grade I listed status and historic significance, creates the opportunity for a truly distinctive Central London destination asset.

Please refer to the brochure for additional images and CGI's along with existing and proposed floor plans.

Location

Located on the southern boundary of The Regent’s Park, the property occupies no. 18 Park Square East, a Grade I listed John Nash designed terrace overlooking Park Square. The property benefits from a convenient position adjacent to the northern border of London’s West End, and forms part of the North of Oxford Street sub-market. The immediate area is characterised by an attractive blend of parkland and some of London’s most opulent architecture, including Park Square East and West, Park Crescent to the south and British Land’s Regent’s Place immediately to the east. Under the Crown Estate’s stewardship, The Regent’s Park continues to be one of London’s most prestigious addresses, rich in cultural heritage and offering access to an abundance of lifestyle amenities in neighbouring Marylebone and Fitzrovia.

THE REGENT’S PARK
Located on the southern boundary of The Regent’s Park, the property occupies no. 18 Park Square East, a Grade I listed John Nash designed terrace overlooking Park Square. The property benefits from a convenient position adjacent to the northern border of London’s West End, and forms part of the North of Oxford Street sub-market. The immediate area is characterised by an attractive blend of parkland and some of London’s most opulent architecture, including Park Square East and West, Park Crescent to the south and British Land’s Regent’s Place immediately to the east. Under the Crown Estate’s stewardship, The Regent’s Park continues to be one of London’s most prestigious addresses, rich in cultural heritage and offering access to an abundance of lifestyle amenities in neighbouring Marylebone and Fitzrovia.

Square Footage: 22,082 sq ft
Leasehold with approximately 118 years remaining.