Period office with significant development potential opposite Buckingham Palace comes to market

18 September 2017

Savills, jointly with Michael Elliott, on behalf of a private client, has brought to market 4-5 Buckingham Gate, London. Currently a Grade II listed office building there are a number of development options for the site including hotel, continued office use and residential.

 

Prominently situated opposite Buckingham Palace the property currently provides 33,214 sq ft (3,086 sq m) of space set over lower ground, ground and a further four floors. Located close to both Victoria and St James’s Park stations the property is close to nearby developments including Nova at Victoria Street, 25 Wilton Road and 10 Broadway (New Scotland Yard).

 

4-5 Buckingham Gate is entirely let to the Metropolitan Police Authority on a lease expiring in February 2020 at a rent of £1,035,000 per annum.

 

Barry Mangan, director in the central London investment team, comments: “4-5 Buckingham Gate offers a prestigious address and a multitude of development options which will appeal to both investors and occupiers.”

 

Gary Witham, director in the hotels team at Savills, adds: “4-5 Buckingham Gate is a unique opportunity for a developer to create a well located central London hotel that will benefit from its close proximity to many major tourist attractions. The London hotel market remains robust as both business travellers and tourists continue to visit the city and capital investment into hotels in the city stood at £1.1 billion in the first half of the year.”

 

 
 

Key Contacts

Barry Mangan

Barry Mangan

Director
Central London Investment

Savills Margaret Street

+44 (0) 20 7409 5915

 

Gary Witham

Gary Witham

Director
Hotel Agency

Savills Margaret Street

+44 (0) 20 7409 9902