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  3. Westminster, London

Dacre House

under offer

Office for sale

£18,500,000 17,345 sq ft

View the performance or update the listing in CoStar
Status
Under offer
Contacts

Nick Pemberton - Allsop

Chloe Newton - Allsop

Piers Glover - Allsop

Tim Mantle - Knight Frank LLP

Full address
19 Dacre St, London SW1H 0DJ – Westminster, London
Highlights
  • Prominent corner building in a core Victoria location
  • Substantial ongoing investment and regeneration of the immediate surrounding area
  • Full vacant possession in January 2020
  • Fantastic opportunity to asset manage, refurbish or redevelop the asset and capitalise on the area’s continuing rental growth
Property owner
Arbrook Land Ltd
Property type

Office for sale Search all

Asking price
£18,500,000
Available space range
There is 1 space available. This measures 17,345 sq ft.
Features
Air Conditioning, Conferencing Facility, Raised Floor, Accent Lighting, Energy Performance Rating - C
Brochure
Download the brochure

Sale details

Sale unit 3964666 Under offer

17,345 sq ft, £1,066.59 per sq ft

Unit Sale unit 3964666
Address 19 Dacre St, London, London, SW1H 0DJ, GB
Size 17,345 sq ft
Price £18,500,000
Price per unit £1,066.59 per sq ft
Unit Sale unit 3964666
Address 19 Dacre St, London, London, SW1H 0DJ, GB
Size 17,345 sq ft
Price £18,500,000
Price per unit £1,066.59 per sq ft
Sale conditions Redevelopment Project
Sale type Investment
Tenure Freehold
Net income yield 3.22%
Financial type Actual
Financial year 2018
Net operating income £595,820

Sale notes

  • Offers are invited in excess of £18,500,000 (eighteen million five hundred thousand pounds) for the freehold interest, subject to contract and exclusive of vat.
  • A purchase at this level reflects a capital value of £1,067 per sq ft on the existing area and £765 per sq ft on the consented area.
  • Planning consent for a grade a office-led redevelopment and extension of the existing building that increases the net floor area by 40% to 24,175 sq ft (2,246 sq m).
  • 2019 pre-application for a new build grade a office-led scheme has been positively received by westminster city council.

Property description

DACRE HOUSE WAS COMPLETED IN THE 1970S AND OCCUPIES A PROMINENT CORNER POSITION, BENEFITTING FROM SUBSTANTIAL FRONTAGE ONTO DACRE STREET AND DEAN FARRAR STREET. THE BUILDING PROVIDES 17,345 SQ FT (1,613 SQ M) OF OFFICE, RETAIL AND ANCILLARY ACCOMMODATION ARRANGED OVER LOWER GROUND, GROUND AND FIVE UPPER FLOORS. The office and ancillary space, totalling 13,404 sq ft (1,246 sq m) is situated over lower ground, and first to fifth floors. The office floorplates are approximately 2,800 sq ft (260 sq m) and benefit from excellent natural light on multiple sides. The fifth floor also has a private roof terrace. The 3.6m height reception fronts Dacre Street and provides access to a passenger lift linking all floors. The retail accommodation, totalling 3,941 sq ft (367 sq m) is arranged as two units predominantly situated over lower ground and ground floors. The larger of the units incorporates a mezzanine level and benefits from dual frontage onto both Dacre Street and Dean Farrar Street.

Number of storeys
6
Rentable building area
17,345 sq ft
Year built
1977
Utilities
Lighting

Attachments

PDF #1 Marketing brochure/flyer Download

This office for sale is located in Westminster, London.

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Disclaimer. Property descriptions, images and related information displayed on this page are based on marketing materials found on the website registered to Allsop. Realla does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions or related information provided here and they do not constitute property particulars. Please contact Allsop for full details and further information.