Building Report
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Building Report (this is a sample only) Portman House 2 Portman Street London W1H 6EB Formerly known as Gulf House, built in 1957 and redeveloped in December 2002 to provide 101,857sq ft of glass fronted office space arranged over seven floors and 44,695 sq ft of ground retail space (seven units in total) fronting Oxford Street. The property includes underground car parking facilities, an atrium in the centre of the building and four passenger lifts, two of which are of glass exterior. Report as at 16 July 2008 The property has also been known as: Portman House 2 Portman Street London W1H 6EB Gulf House 1-2 Portman Street London W1H 6DU 484-488 Oxford Street London W1C 1LE 498 Oxford Street London W1C 1LQ 484-504 Oxford Street London W1C 1HG 494-496 Oxford Street London W1C 1LG 502-504 Oxford Street London W1C 1LJ 490-492 Oxford Street London W1C 1LF 480-504 Oxford Street London W1C 1LE 2 Portman Street London W1H 6EB 500 Oxford Street London W1C 1HG Gulf House Portman House SPACE CURRENTLY AVAILABLE - Full Details Portman House, 2 Portman Street, London, W1H 6EB Use B1 Office/Business Description The available space comprises 10,500 sq ft of office space on the seventh floor. Rent £520,000 Floors Available Seventh Floor Floor 10,400 sq ft (966 sq m) Total 10,400 sq ft (966 sq m) £50.00 psf (£538.00 psm) Rates £171,600 (approx £16.50 psf) Service Charges £104,000 (approx £10.00 psf) Total Charge £76.50 psf Tenure Leasehold Lease A sublease expiring in September 2012. Grade Second Hand Possession 30/04/2009 Approx Amenities Air Conditioning Commissionaire Fully Fitted Offices Passenger Lift(s) Agents CB RICHARD ELLIS Mr Matthew Chicken Tel 020 7182 2023 Fax 020 7182 2001 Email matt.chicken@cbre.com CB RICHARD ELLIS Mr Ralph Dorey Tel 0207 182 2348 Fax 020 7182 2001 Email ralph.dorey@cbre.com SMITH MELZACK PEPPER ANGLISS Mr Dave Smith Tel 020 7393 4024 Fax 020 7393 4114 Email dave.smith@sm-pa.co.uk SMITH MELZACK PEPPER ANGLISS Mr Ronnie Franks Tel 020 7393 4000 Fax 020 7393 4114 Email ronnie.franks@sm-pa.co.uk Last Update 24/06/2009 Status Available RECENT TRANSACTIONS Long Leasehold Investment Sold Date: 30/06/2009 Total Size: Achieved Price: Yield: 146,550 sq ft (13,615 sq m) £155,000,000 7% Tenant: Vendor Agent: Purchaser Agent: INTERNATIONAL LTD Purchaser: Purchaser: Vendor: Tenant: Tenant: BOOTS THE CHEMISTS LTD FRANC WARWICK & CO JAMES ANDREW KINLOSS PROPERTY LTD LAFICO LAND SECURITIES PLC NEW LOOK RETAILERS LTD RUSSELL & BROMLEY LTD Kinloss Property Ltd, a wholly owned subsidiary of Libyan Foreign Investment Company (LAFICO) has purchased the freehold interest in 146,550 sq ft (13,615 sq m) of multi-tenanted office and retail space from Land Securities Plc for £155m as an investment, reflecting a net initial yield of just over 7%. The 101,857 sq ft (9,462 sq m) of office space situated on the second to seventh floors are let on leases with 3 to 7 years unexpired at a passing rent of £49.50 to £80 sq ft. The retail accommodation totals 44,695 sq ft and is located on the ground and first floors which are let to New Look, Russell & Bromley and Boots the Chemist. The total annual rental income of is £11.5m pa. The property is held on a long lease from The Portman Estate for a term expiring 2152. Franc Warwick acted on behalf of the vendor. James Andrew International represented the purchaser. (4,152 sq m) ______________________________________________________________________________________________________ Letting Primary Use: Date: B1 Offices 19/12/2007 Total Size: 10,064 sq ft (935 sq m) Tenant Agent: Other: Agent: Tenant: CB RICHARD ELLIS COSTAR GROUP INC MCS TRAFIGURA LTD Trafigura Ltd has taken 10,064 sq ft (935 sq m) of third-floor office space from Costar Group Inc on assignment of an existing lease. A premium of £4,000,000 was agreed. MCS acted on behalf of Costar Group Inc. CB Richard Ellis represented Trafigura Ltd. . (Costar Research 19/12/07) ______________________________________________________________________________________________________ Letting Primary Use: Date: B1 Offices 01/06/2005 Total Size: 8,000 sq ft (743 sq m) Tenant Agent: NB REAL ESTATE An undisclosed tenant has taken 8,000 sq ft (743 sq m) of second-floor office space on confidential terms. Nelson Bakewell acted on behalf of the tenant. (FOCUS Research 26/01/06) ______________________________________________________________________________________________________ Letting Primary Use: Date: B1 Offices 28/11/2003 Total Size: Achieved Rent: 10,500 sq ft (975 sq m) £472,500 at £45.00 psf Agent: Tenant Agent: Landlord: Tenant: CB RICHARD ELLIS CHURSTON HEARD LTD CONOCOPHILLIPS (UK) LTD NEW LOOK RETAILERS LTD New Look Group plc has taken 10,500 sq ft (975.5 sq m) of seventh-floor office space from Conocophillips (UK) Ltd on a sublease at around £45.00 psf (£484 psm). Churston Heard & Co Ltd acted on behalf of New Look Group plc, while CB Richard Ellis represented Conocophillips (UK) Ltd. (Property Week 28/11/03,Estates Gazette 29/11/03 p24) ______________________________________________________________________________________________________ Letting Primary Use: Date: Mixed Retail 24/10/2003 Total Size: 2,050 sq ft (190 sq m) Tenant: (HOLDINGS) LTD Owner: Tenant Agent: FAITH FOOTWEAR LAND SECURITIES PLC SAVILLS COMMERCIAL Faith Footwear (Holdings) Ltd has taken 2,050 sq ft (190 sq m) of retail space from Land Securities plc. Blair Kirkman acted on behalf of Faith Footwear (Holdings) Ltd. (Retail Week 24/10/03 p23) ______________________________________________________________________________________________________ Letting Primary Use: Date: B1 Offices 05/07/2003 Total Size: Quoted Rent: 10,064 sq ft (935 sq m) £452,880 at £45.00 psf Agent: Tenant: Agent: Owner: Agent: CB HILLIER PARKER COSTAR GROUP INC DTZ LAND SECURITIES PLC MCS Property Intelligence plc has signed its lease for the third-floor of Portman House at around £40.00 psf. DTZ and CB Hillier Parker acted on behalf of Land Securities, while MCS represented Property Intelligence. The quoting rent was £45.00 psf. Due to a confidentiality clause, all lease details have been withheld. (Estates Gazette 05/07/03,FOCUS Research 21/07/03) ______________________________________________________________________________________________________ Letting Primary Use: Date: Mixed Retail 17/04/2003 Total Size: Lease End: 11,000 sq ft (1,022 sq m) 24/03/2018 Agent: Owner: Tenant: DALGLEISH & CO LTD LAND SECURITIES PLC MONSOON PLC Monsoon has taken 1,021 sq m (11,000 sq ft) of retail space in Portman House from Land Securities on a 15-year lease. The store is due to open in August 2003. Dalgleish & Co acted on behalf of Land Securities. (Property Week 17/04/03 p5) ______________________________________________________________________________________________________ Letting Primary Use: Date: B1 Offices 08/03/2003 Total Size: Achieved Rent: 19,000 sq ft (1,765 sq m) £55.00 psf Agent: Tenant: Agent: Owner: CB HILLIER PARKER CLUTTONS LLP DTZ LAND SECURITIES PLC Land Securities own the property. (Land Securities Website 04/03/03)Cluttons this week ending 08/03/03 confirmed its move to Land Securities property. It leaves Berkeley Square (see separate record) inJune 2003 for the 19,000 sq ft fourth floor at a rent of £55 psf. DTZ and CBHP advised LandSec. (Estates Gazette 08/03/03 p32) ______________________________________________________________________________________________________ Letting Primary Use: Date: Mixed Retail 01/02/2003 Total Size: Achieved Rent: 20,700 sq ft (1,923 sq m) £1,100,000 Agent: Agent: Other: Owner: Tenant: CHURSTON HEARD LTD DALGLEISH & CO LTD HMV MEDIA GROUP PLC LAND SECURITIES PLC NEW LOOK RETAILERS LTD New Look has taken a 20,700 sq ft flagship store from Land Securities on a lease at £1.1m pa. This follows the collapse of a deal with HMV during autumn 2002. Dalgleish & Co represented Land Securities, while Churston Heard acted for New Look. . (Estates Gazette 01/02/03 p34) ______________________________________________________________________________________________________ Letting Primary Use: Date: B1 Offices 11/01/2002 Total Size: Achieved Rent: 43,195 sq ft (4,013 sq m) £60.00 psf Agent: Tenant: Agent: Owner: CB HILLIER PARKER CONOCOPHILLIPS (UK) LTD DTZ LAND SECURITIES PLC Conoco has taken 4,105 sq m (43,195 sq ft) of office space from Land Securities on a long term lease at a rent of over £654.84 psm (£60 psf). DTZ Debenham Tie Leung and CB Hillier Parker acted for Land Securities, while CB HiIlier Parker represented Conoco.Trafigura also occupies space in the property.The remaining 2,675 sq m (28,790 sq ft) is available on flexible lease terms through DTZ Debenham Tie Leung and CB Hillier Parker. (Property Week 11/01/02 p108) ______________________________________________________________________________________________________ Letting Primary Use: Grade: Date: Days on market: B1 Offices New or Refurbished 17/10/2001 590 Total Size: Service Charge: Rates: 9,261 sq ft (860 sq m) £55,566 (approx £6.00 psf) £129,654 (approx £14.00 psf) Agent: Owner: Tenant: DTZ LAND SECURITIES PLC TRAFIGURA LTD Acting on behalf of Land Securities, DTZ Debenham Tie Leung has let 9,261 sq ft of third-floor office space to Trafigura Ltd. (FOCUS Research 17/10/01) Amenities: Air Conditioning, Atrium, Built to a High Specification, Car Parking, Disabled Facilities, Excellent Natural Light, Goods Lift, Passenger Lift(s), Raised Floors, Suspended Ceilings ______________________________________________________________________________________________________ Letting Primary Use: Grade: Date: Days on market: B1 Offices New or Refurbished 17/10/2001 590 Total Size: Service Charge: Rates: 19,261 sq ft (1,789 sq m) £115,566 (approx £6.00 psf) £269,654 (approx £14.00 psf) Agent: Owner: Tenant: DTZ LAND SECURITIES PLC TRAFIGURA LTD Acting on behalf of Land Securities, DTZ Debenham Tie Leung has let 19,261 sq ft of second-floor office space to Trafigura Ltd. (FOCUS Research 17/10/01) Amenities: Air Conditioning, Atrium, Built to a High Specification, Car Parking, Disabled Facilities, Excellent Natural Light, Goods Lift, Passenger Lift(s), Raised Floors, Suspended Ceilings ______________________________________________________________________________________________________ Letting Primary Use: Date: Achieved Rent: Mixed Retail 25/08/2000 £768,000 Other: Owner: Tenant: ETAM PLC LAND SECURITIES PLC OFFICERS CLUB LTD (THE) Etam has vacated its unit at 484/488 Oxford Street, owned by Land Securities, and sub-let the space to the Officer's Club at £768,000 pa. (Property Week 25/08/00 p5) ______________________________________________________________________________________________________ Letting Primary Use: Date: Rent Reviews: Break Options: Shop 11/12/1993 01/06/2008 01/06/1998, 01/06/2008 Other: Agent: Agent: Owner: BAGGAGE CENTRE LTD DALGLEISH & CO LTD IAN SCOTT INTERNATIONAL LAND SECURITIES PLC Land Securities has let the shop at 498 Oxford Street to the Baggage Centre on a 15-year lease at £235,000 pa, equating to £236 zone A. The deal includes six months rent-free and a break option at the fifth year. Ian Scott and Dalgleish & Co acted for Land Securities and the tenant was advised by Ashley Phillips. (Chartered Surveyor Weekly 09/12/93 p8, Estates Gazette 11/12/93 p27)Land Securities own the property which had a value of £10M or above as at 31/03/93. (Land Securities plc Annual Report 31/03/93)Land Securities owns the property which had a value of £10M or above as at 31/03/94, 31/03/95, 31/03/96 and 31/03/97. (Land Securities plc Annual Report 31/03/94, 31/03/95, 31/03/96 & 31/03/97)The lease of the offices expires in December 1999, giving Land Securities the potential for refurbishment and possible opportunity to extend the amount of retail space. (Land Securities plc Annual Report 31/03/97) ______________________________________________________________________________________________________ Letting Primary Use: Date: Shop 17/09/1987 Other: Agent: Other: Agent: Other: Agent: Other: ETAM PLC GEOFFREY BOARDMAN & CO GRANT SEWARD LTD IAN SCOTT INTERNATIONAL JEAN JEANIE LTD LAWRENCE CALF & CO LEE COOPER GROUP LTD 488 Oxford Street comprises a retail unit with a frontage of 21 ft. The long leasehold interest has been acquired by Healey & Baker on behalf of Michael Barrie Group from clients of Lambert Smith & Partners. Premium offers were being invited in the region of £300,000. Let on a lease expiring in 1990 at £180,000 pa with a rent review in November 1985. (Estates Gazette 29/09/84 p1180)Boots Company plc has acquired the former Bally Group (UK) Ltd shop at 490/ 492 Oxford Street for a premium of over £500,000 and a rent of £200,000 pa. The residual lease, which expires in 1992, was acquired for Boots by Healey & Baker and Phillips Wilks & Partners. The review comes up in March 1989. The shop has a 29 ft frontage, some 2,692 sq ft at ground floor level and 550 sq ft in the basement. Churston Heard & Co acted for Bally. (Estates Times Survey 06/03/87 p23, Chartered Surveyor Weekly Survey 12/03/87 p50, Estates Gazette Survey 16/05/87 p844 & p855)Land Securities has acquired the headlease, converting an existing 70-year leasehold to 165 years at a low fixed rent. Valued in excess of £2.5M. (Land Securities Company Report 31/03/87)Land Securities plc own the leasehold interest. (Land Securities Company Report 31/03/85)Lee Cooper Group plc subsidiary Grant Seward, trading as Jean Jeanie, has sold the lease of 488 Oxford Street to Etam plc. Ian Scott & Co acted for the vendors, while Etam were represented by Geoffrey Boardman & Co and Lawrence Calf. (Chartered Surveyor Weekly 17/09/87 p12)Tenants include Gulf Oil Great Britain Ltd, Saxone Shoe Co Ltd, Ernest Jones Jewellers plc and Etam plc. Imminent reversions are expected to considerably increase Land Securities income. (Property Journal June 1987)Underlease dated 18th November 1957 made between Land Securities plc, the Direct Raincoat Company (Stone Dri) Ltd and Joseph Stone & Co Ltd. A demise dated 4th December 1975 made between Stone Dri, The In Shop and Tootal Group plc. A licence to assign the lease on 25th July 1979 was made between Land Securities, Stone Dri, The In Shop, Tootal Group plc and Harry Fenton Mens Wear. (Michael Barrie Offer Document 15/08/86)Valued in excess of £2.5M. (Land Securities Company Report 31/03/86) ______________________________________________________________________________________________________ Long Leasehold Investment Sold Primary Use: Date: B1 Offices 31/03/1987 Owner: LAND SECURITIES PLC 488 Oxford Street comprises a retail unit with a frontage of 21 ft. The long leasehold interest has been acquired by Healey & Baker on behalf of Michael Barrie Group from clients of Lambert Smith & Partners. Premium offers were being invited in the region of £300,000. Let on a lease expiring in 1990 at £180,000 pa with a rent review in November 1985. (Estates Gazette 29/09/84 p1180)Boots Company plc has acquired the former Bally Group (UK) Ltd shop at 490/ 492 Oxford Street for a premium of over £500,000 and a rent of £200,000 pa. The residual lease, which expires in 1992, was acquired for Boots by Healey & Baker and Phillips Wilks & Partners. The review comes up in March 1989. The shop has a 29 ft frontage, some 2,692 sq ft at ground floor level and 550 sq ft in the basement. Churston Heard & Co acted for Bally. (Estates Times Survey 06/03/87 p23, Chartered Surveyor Weekly Survey 12/03/87 p50, Estates Gazette Survey 16/05/87 p844 & p855)Land Securities has acquired the headlease, converting an existing 70-year leasehold to 165 years at a low fixed rent. Valued in excess of £2.5M. (Land Securities Company Report 31/03/87)Land Securities plc own the leasehold interest. (Land Securities Company Report 31/03/85)Lee Cooper Group plc subsidiary Grant Seward, trading as Jean Jeanie, has sold the lease of 488 Oxford Street to Etam plc. Ian Scott & Co acted for the vendors, while Etam were represented by Geoffrey Boardman & Co and Lawrence Calf. (Chartered Surveyor Weekly 17/09/87 p12)Tenants include Gulf Oil Great Britain Ltd, Saxone Shoe Co Ltd, Ernest Jones Jewellers plc and Etam plc. Imminent reversions are expected to considerably increase Land Securities income. (Property Journal June 1987)Underlease dated 18th November 1957 made between Land Securities plc, the Direct Raincoat Company (Stone Dri) Ltd and Joseph Stone & Co Ltd. A demise dated 4th December 1975 made between Stone Dri, The In Shop and Tootal Group plc. A licence to assign the lease on 25th July 1979 was made between Land Securities, Stone Dri, The In Shop, Tootal Group plc and Harry Fenton Mens Wear. (Michael Barrie Offer Document 15/08/86)Valued in excess of £2.5M. (Land Securities Company Report 31/03/86) ______________________________________________________________________________________________________ Letting Primary Use: Date: Mixed Retail 06/03/1987 Total Size: Achieved Rent: Rent Reviews: Break Options: 3,242 sq ft (301 sq m) £200,000 at £61.69 psf 01/03/1989, 01/06/1992 01/06/1992 Other: Tenant: Agent: Agent: Agent: BALLY GROUP (UK) LTD BOOTS COMPANY PLC (THE) CHURSTON HEARD LTD HEALEY & BAKER PHILLIPS WILKS 488 Oxford Street comprises a retail unit with a frontage of 21 ft. The long leasehold interest has been acquired by Healey & Baker on behalf of Michael Barrie Group from clients of Lambert Smith & Partners. Premium offers were being invited in the region of £300,000. Let on a lease expiring in 1990 at £180,000 pa with a rent review in November 1985. (Estates Gazette 29/09/84 p1180)Boots Company plc has acquired the former Bally Group (UK) Ltd shop at 490/ 492 Oxford Street for a premium of over £500,000 and a rent of £200,000 pa. The residual lease, which expires in 1992, was acquired for Boots by Healey & Baker and Phillips Wilks & Partners. The review comes up in March 1989. The shop has a 29 ft frontage, some 2,692 sq ft at ground floor level and 550 sq ft in the basement. Churston Heard & Co acted for Bally. (Estates Times Survey 06/03/87 p23, Chartered Surveyor Weekly Survey 12/03/87 p50, Estates Gazette Survey 16/05/87 p844 & p855)Land Securities has acquired the headlease, converting an existing 70-year leasehold to 165 years at a low fixed rent. Valued in excess of £2.5M. (Land Securities Company Report 31/03/87)Land Securities plc own the leasehold interest. (Land Securities Company Report 31/03/85)Lee Cooper Group plc subsidiary Grant Seward, trading as Jean Jeanie, has sold the lease of 488 Oxford Street to Etam plc. Ian Scott & Co acted for the vendors, while Etam were represented by Geoffrey Boardman & Co and Lawrence Calf. (Chartered Surveyor Weekly 17/09/87 p12)Tenants include Gulf Oil Great Britain Ltd, Saxone Shoe Co Ltd, Ernest Jones Jewellers plc and Etam plc. Imminent reversions are expected to considerably increase Land Securities income. (Property Journal June 1987)Underlease dated 18th November 1957 made between Land Securities plc, the Direct Raincoat Company (Stone Dri) Ltd and Joseph Stone & Co Ltd. A demise dated 4th December 1975 made between Stone Dri, The In Shop and Tootal Group plc. A licence to assign the lease on 25th July 1979 was made between Land Securities, Stone Dri, The In Shop, Tootal Group plc and Harry Fenton Mens Wear. (Michael Barrie Offer Document 15/08/86)Valued in excess of £2.5M. (Land Securities Company Report 31/03/86) ______________________________________________________________________________________________________ Long Leasehold Investment Sold Primary Use: Date: Rent Reviews: Shop 29/09/1984 01/06/1990 Agent: Agent: PARTNERS Owner: HEALEY & BAKER LAMBERT SMITH & MICHAEL BARRIE GROUP 488 Oxford Street comprises a retail unit with a frontage of 21 ft. The long leasehold interest has been acquired by Healey & Baker on behalf of Michael Barrie Group from clients of Lambert Smith & Partners. Premium offers were being invited in the region of £300,000. Let on a lease expiring in 1990 at £180,000 pa with a rent review in November 1985. (Estates Gazette 29/09/84 p1180)Boots Company plc has acquired the former Bally Group (UK) Ltd shop at 490/ 492 Oxford Street for a premium of over £500,000 and a rent of £200,000 pa. The residual lease, which expires in 1992, was acquired for Boots by Healey & Baker and Phillips Wilks & Partners. The review comes up in March 1989. The shop has a 29 ft frontage, some 2,692 sq ft at ground floor level and 550 sq ft in the basement. Churston Heard & Co acted for Bally. (Estates Times Survey 06/03/87 p23, Chartered Surveyor Weekly Survey 12/03/87 p50, Estates Gazette Survey 16/05/87 p844 & p855)Land Securities has acquired the headlease, converting an existing 70-year leasehold to 165 years at a low fixed rent. Valued in excess of £2.5M. (Land Securities Company Report 31/03/87)Land Securities plc own the leasehold interest. (Land Securities Company Report 31/03/85)Lee Cooper Group plc subsidiary Grant Seward, trading as Jean Jeanie, has sold the lease of 488 Oxford Street to Etam plc. Ian Scott & Co acted for the vendors, while Etam were represented by Geoffrey Boardman & Co and Lawrence Calf. (Chartered Surveyor Weekly 17/09/87 p12)Tenants include Gulf Oil Great Britain Ltd, Saxone Shoe Co Ltd, Ernest Jones Jewellers plc and Etam plc. Imminent reversions are expected to considerably increase Land Securities income. (Property Journal June 1987)Underlease dated 18th November 1957 made between Land Securities plc, the Direct Raincoat Company (Stone Dri) Ltd and Joseph Stone & Co Ltd. A demise dated 4th December 1975 made between Stone Dri, The In Shop and Tootal Group plc. A licence to assign the lease on 25th July 1979 was made between Land Securities, Stone Dri, The In Shop, Tootal Group plc and Harry Fenton Mens Wear. (Michael Barrie Offer Document 15/08/86)Valued in excess of £2.5M. (Land Securities Company Report 31/03/86) ______________________________________________________________________________________________________ Letting Primary Use: Date: Shop 25/07/1979 Other: Owner: Other: HARRY FENTON LTD LAND SECURITIES PLC TOOTAL GROUP LTD 488 Oxford Street comprises a retail unit with a frontage of 21 ft. The long leasehold interest has been acquired by Healey & Baker on behalf of Michael Barrie Group from clients of Lambert Smith & Partners. Premium offers were being invited in the region of £300,000. Let on a lease expiring in 1990 at £180,000 pa with a rent review in November 1985. (Estates Gazette 29/09/84 p1180)Boots Company plc has acquired the former Bally Group (UK) Ltd shop at 490/ 492 Oxford Street for a premium of over £500,000 and a rent of £200,000 pa. The residual lease, which expires in 1992, was acquired for Boots by Healey & Baker and Phillips Wilks & Partners. The review comes up in March 1989. The shop has a 29 ft frontage, some 2,692 sq ft at ground floor level and 550 sq ft in the basement. Churston Heard & Co acted for Bally. (Estates Times Survey 06/03/87 p23, Chartered Surveyor Weekly Survey 12/03/87 p50, Estates Gazette Survey 16/05/87 p844 & p855)Land Securities has acquired the headlease, converting an existing 70-year leasehold to 165 years at a low fixed rent. Valued in excess of £2.5M. (Land Securities Company Report 31/03/87)Land Securities plc own the leasehold interest. (Land Securities Company Report 31/03/85)Lee Cooper Group plc subsidiary Grant Seward, trading as Jean Jeanie, has sold the lease of 488 Oxford Street to Etam plc. Ian Scott & Co acted for the vendors, while Etam were represented by Geoffrey Boardman & Co and Lawrence Calf. (Chartered Surveyor Weekly 17/09/87 p12)Tenants include Gulf Oil Great Britain Ltd, Saxone Shoe Co Ltd, Ernest Jones Jewellers plc and Etam plc. Imminent reversions are expected to considerably increase Land Securities income. (Property Journal June 1987)Underlease dated 18th November 1957 made between Land Securities plc, the Direct Raincoat Company (Stone Dri) Ltd and Joseph Stone & Co Ltd. A demise dated 4th December 1975 made between Stone Dri, The In Shop and Tootal Group plc. A licence to assign the lease on 25th July 1979 was made between Land Securities, Stone Dri, The In Shop, Tootal Group plc and Harry Fenton Mens Wear. (Michael Barrie Offer Document 15/08/86)Valued in excess of £2.5M. (Land Securities Company Report 31/03/86) ______________________________________________________________________________________________________ Letting Primary Use: Date: Shop 18/11/1957 Owner: Other: LAND SECURITIES PLC TOOTAL GROUP LTD 488 Oxford Street comprises a retail unit with a frontage of 21 ft. The long leasehold interest has been acquired by Healey & Baker on behalf of Michael Barrie Group from clients of Lambert Smith & Partners. Premium offers were being invited in the region of £300,000. Let on a lease expiring in 1990 at £180,000 pa with a rent review in November 1985. (Estates Gazette 29/09/84 p1180)Boots Company plc has acquired the former Bally Group (UK) Ltd shop at 490/ 492 Oxford Street for a premium of over £500,000 and a rent of £200,000 pa. The residual lease, which expires in 1992, was acquired for Boots by Healey & Baker and Phillips Wilks & Partners. The review comes up in March 1989. The shop has a 29 ft frontage, some 2,692 sq ft at ground floor level and 550 sq ft in the basement. Churston Heard & Co acted for Bally. (Estates Times Survey 06/03/87 p23, Chartered Surveyor Weekly Survey 12/03/87 p50, Estates Gazette Survey 16/05/87 p844 & p855)Land Securities has acquired the headlease, converting an existing 70-year leasehold to 165 years at a low fixed rent. Valued in excess of £2.5M. (Land Securities Company Report 31/03/87)Land Securities plc own the leasehold interest. (Land Securities Company Report 31/03/85)Lee Cooper Group plc subsidiary Grant Seward, trading as Jean Jeanie, has sold the lease of 488 Oxford Street to Etam plc. Ian Scott & Co acted for the vendors, while Etam were represented by Geoffrey Boardman & Co and Lawrence Calf. (Chartered Surveyor Weekly 17/09/87 p12)Tenants include Gulf Oil Great Britain Ltd, Saxone Shoe Co Ltd, Ernest Jones Jewellers plc and Etam plc. Imminent reversions are expected to considerably increase Land Securities income. (Property Journal June 1987)Underlease dated 18th November 1957 made between Land Securities plc, the Direct Raincoat Company (Stone Dri) Ltd and Joseph Stone & Co Ltd. A demise dated 4th December 1975 made between Stone Dri, The In Shop and Tootal Group plc. A licence to assign the lease on 25th July 1979 was made between Land Securities, Stone Dri, The In Shop, Tootal Group plc and Harry Fenton Mens Wear. (Michael Barrie Offer Document 15/08/86)Valued in excess of £2.5M. (Land Securities Company Report 31/03/86) ______________________________________________________________________________________________________ OCCUPIERS London Occupiers Company Name Activity Telephone Staff Floors Boots The Chemists Ltd Chemists - Dispensing 0207 491 8546 10 Ground New Look Retailers Ltd Misc Business Services 020 7290 7860 150 Trafigura Ltd Commodity/produce Merchs 020 7173 2200 250 Cluttons Llp Surveyors/valuers 020 7408 1010 200 Ground, 1st, 7th 2nd, 3rd 4th Conocophillips (uk) Ltd Oil Companies 020 7408 6000 200 5th, 6th Local Contact Mr Message Mr D Banks Miss Copley Experian Occupiers Company Name Activity Telephone Staff Local Contact TPS MPS Boots The Chemists Pharmacies 020 74918546 30 N N New Look Clothes Shops - Ladies 020 76595900 50 Mr Mat Macintyre Miss Freeman N N River Island Clothes Shops - Ladies 020 74931624 100 Mrs Lock N N Cluttons Llp Surveyors & Valuers 020 74081010 500 Mr John Barrett N N Russell & Bromley Ltd Shoe Shops 020 74933501 20 Mr Hayes N N Monsoon Ltd Clothes Shops - Ladies 020 74913004 40 Mr Brown N N Trafigura Ltd Trade Associations 020 70091500 3 N N Conocophillips Ltd Oil & Gas Exploration 020 74086000 300 Mr Todd Fredin N N Primark Stores Shoe Shops 020 74950420 1000 Mr Scott Wilson N N RATING Valuation Office LONDON WESTMINSTER GROUP Valuation Officer Andrew Holdsworth Bsc(Hons), MRICS, APMP Address Telephone Wingate House, 93/107 Shaftesbury Avenue London W1D 5BU 020 7445 0500 Fax 020 7445 0699 Manager Ian Gibbs 2005 Rating List Property Name Description 2nd & Pt 3rd Flr Portman House 2, 4th Flr Portman House 2, Offices & Premises 5th & 6th Flrs Portman House 2, RV Effective Date Assessment No £965,000 1/2/2007 400569100101 Offices & Premises £660,000 1/2/2007 400569100103 Offices & Premises Deleted 5th Flr Portman House 2, Offices & Premises £615,000 1/2/2007 400569100204 6th Flr Portman House 2, Offices & Premises £525,000 1/2/2007 400569100205 7th Flr Portman House 2, Offices & Premises £362,500 1/4/2005 400569100203 Bst & Grd Flr 490-492, Shop & Premises £492,500 1/4/2005 400538449000 Car Space 1 Bst Portman House 2, Car Space 10 Bst Portman House 2, Car Space 11 Bst Portman House 2, Car Space 12 Bst Portman House 2, Car Space 13 Bst Portman House 2, Car Space 14 Bst Portman House 2, Car Space 15 Bst Portman House 2, Car Space 16 Bst Portman House 2, Car Space 17 Bst Portman House 2, Car Space 18 Bst Portman House 2, Car Space 19 Bst Portman House 2, Car Space 2 Bst Portman House 2, Car Space 20 Bst Portman House 2, Car Space 21 Bst Portman House 2, Car Space 22 Bst Portman House 2, Car Space 23 Bst Portman House 2, Car Space 24 Bst Portman House 2, Car Space 25 Bst Portman House 2, Car Space 26 Bst Portman House 2, Car Space 27 Bst Portman House 2, Car Space 3 Bst Kinnaird House 1, Car Space 3 Bst Portman House 2, Car Space 4 Bst Portman House 2, Car Space 5 Bst Portman House 2, Car Space 6 Bst Portman House 2, Car Space 7 Bst Portman House 2, Car Space 8 Bst Portman House 2, Car Space 9 Bst Portman House 2, Grd Flr 484-486, Car Parking Space & Premises Car Parking Space & Premises Car Parking Space & Premises Car Parking Space & Premises Car Parking Space & Premises Car Parking Space & Premises Car Parking Space & Premises Car Parking Space & Premises Car Parking Space & Premises Car Parking Space & Premises Car Parking Space & Premises Car Parking Space & Premises Car Parking Space & Premises Car Parking Space & Premises Car Parking Space & Premises Car Parking Space & Premises Car Parking Space & Premises Car Parking Space & Premises Car Parking Space & Premises Car Parking Space & Premises Car Parking Space & Premises Car Parking Space & Premises Car Parking Space & Premises Car Parking Space & Premises Car Parking Space & Premises Car Parking Space & Premises Car Parking Space & Premises Car Parking Space & Premises Shop & Premises £2,750 original 400569100105 £2,750 original 400569100113 £2,750 original 400569100114 £2,750 original 400569100115 £2,750 original 400569100117 £2,750 original 400569100116 £2,750 original 400569100118 £2,750 original 400569100119 £2,750 original 400569100120 £2,750 original 400569100121 £2,750 original 400569100122 400569100202 Deleted 400569100106 £2,750 original 400569100123 £2,750 original 400569100124 £2,750 original 400569100125 £2,750 original 400569100126 £2,750 original 400569100127 £2,750 original 400569100128 £2,750 original 400569100129 £2,750 original 400569100130 £3,000 original 400541600103 Deleted 400569100107 £2,750 original 400569100108 £2,750 original 400569100109 £2,750 original 400569100110 £2,750 original 400569100132 £2,750 original 400569100201 £2,750 original 400569100112 1/4/2005 400538448400 £640,000 Grd Flr 494-496, Shop & Premises £575,000 original 400538449400 Pt 3rd Flr Portman House 2, Offices & Premises £345,000 1/2/2007 400569100102 Total Linked Rateable Value (see Help) £5,251,750 2000 Rating List Property Name Description 2nd & Pt 3rd Flr Portman House 2, 4th Flr Portman House 2, Offices & Premises 5th & 6th Flrs Portman House 2, RV Effective Date Assessment No £885,000 1/4/2002 400569100101 Offices & Premises £603,500 6/10/2002 400569100103 Offices & Premises Deleted 5th Flr Portman House 2, Offices & Premises £560,000 31/12/2003 400569100204 6th Flr Portman House 2, Offices & Premises £480,000 31/12/2003 400569100205 7th Flr Portman House 2, Offices & Premises £330,000 31/12/2003 400569100203 Bst & Grd Flr 490-492, Shop & Premises £517,000 1/4/2000 400538449000 Bst & Grd Flr 502-504, Shop & Premises Deleted Car Space 1 Bst Portman House 2, Car Space 10 Bst Portman House 2, Car Space 11 Bst Portman House 2, Car Space 12 Bst Portman House 2, Car Space 13 Bst Portman House 2, Car Space 14 Bst Portman House 2, Car Space 15 Bst Portman House 2, Car Space 16 Bst Portman House 2, Car Space 17 Bst Portman House 2, Car Space 18 Bst Portman House 2, Car Space 19 Bst Portman House 2, Car Space 2 Bst Portman House 2, Car Space 20 Bst Portman House 2, Car Space 21 Bst Portman House 2, Car Space 22 Bst Portman House 2, Car Space 23 Bst Portman House 2, Car Space 24 Bst Portman House 2, Car Space 25 Bst Portman House 2, Car Space 26 Bst Portman House 2, Car Space 27 Bst Portman House 2, Car Space 3 Bst Kinnaird House 1, Car Space 3 Bst Portman House 2, Car Space 4 Bst Portman House 2, Car Space 5 Bst Portman House 2, Car Space 6 Bst Portman House 2, Car Space 7 Bst Portman House 2, Car Space 8 Bst Portman House 2, Car Space 9 Bst Portman House 2, Car Parking Space & Premises Car Parking Space & Premises Car Parking Space & Premises Car Parking Space & Premises Car Parking Space & Premises Car Parking Space & Premises Car Parking Space & Premises Car Parking Space & Premises Car Parking Space & Premises Car Parking Space & Premises Car Parking Space & Premises Car Parking Space & Premises Car Parking Space & Premises Car Parking Space & Premises Car Parking Space & Premises Car Parking Space & Premises Car Parking Space & Premises Car Parking Space & Premises Car Parking Space & Premises Car Parking Space & Premises Car Parking Space & Premises Car Parking Space & Premises Car Parking Space & Premises Car Parking Space & Premises Car Parking Space & Premises Car Parking Space & Premises Car Parking Space & Premises Car Parking Space & Premises £2,750 1/4/2002 400569100105 £2,750 1/4/2002 400569100113 £2,750 1/4/2002 400569100114 £2,750 1/4/2002 400569100115 £2,750 1/4/2002 400569100117 £2,750 1/4/2002 400569100116 £2,750 1/4/2002 400569100118 £2,750 1/4/2002 400569100119 £2,750 1/4/2002 400569100120 £2,750 1/4/2002 400569100121 £2,750 1/4/2002 400569100122 £2,750 1/4/2002 400569100106 £2,750 1/4/2002 400569100123 £2,750 1/4/2002 400569100124 £2,750 1/4/2002 400569100125 £2,750 1/4/2002 400569100126 £2,750 1/4/2002 400569100127 £2,750 1/4/2002 400569100128 £2,750 1/4/2002 400569100129 £2,750 1/4/2002 400569100130 £3,000 1/3/2002 400541600103 £2,750 1/4/2002 400569100107 £2,750 1/4/2002 400569100108 £2,750 1/4/2002 400569100109 £2,750 1/4/2002 400569100110 £2,750 1/4/2002 400569100132 £2,750 1/4/2002 400569100201 £2,750 1/4/2002 400569100112 400569100202 400538450200 Grd Flr 484-486, Shop & Premises £730,000 Grd Flr 484-488, Shop & Premises Deleted Grd Flr 494-496, Shop & Premises £530,000 Grd Flr 498, Shop & Premises Deleted 400538449800 Grd Flr 500, Shop & Premises Deleted 400538450000 Pt 3rd Flr Portman House 2, Offices & Premises Total Linked Rateable Value (see Help) £317,000 1/4/2001 400538448400 400538448400 1/4/2000 6/10/2002 400538449400 400569100102 £5,029,750 1995 Rating List Property Name Description Bst & Grd Flr 490-492, Shop & Premises £263,250 Bst & Grd Flr 502-504, Shop & Premises Deleted Grd Flr 484-488, Shop & Premises £647,000 1/4/1995 400538448400 Grd Flr 494-496, Shop & Premises £305,000 1/4/1995 400538449400 Grd Flr 498, Shop & Premises £210,500 1/4/1995 400538449800 Grd Flr 500, Shop & Premises £87,000 1/4/1995 400538450000 Pt Lbst Pt Grd Flr & 1st-6th Flrs Offices & Premises Gulf Hse 1-2, Total Linked Rateable Value (see Help) RV Effective Date Assessment No 26/7/1999 400538449000 400538450200 Deleted 400569100100 £1,512,750 1990 Rating List Property Name Description Effective Date Assessment No Bst & Grd Flr 490-492 Shop & Premises £360,000 6/7/1993 111228088 Bst & Grd Flr 502-504 Shop & Premises £508,000 28/7/1993 111224088 Grd Flr 484-488 Shop & Premises £809,000 6/7/1993 111227088 Grd Flr 494-496 Shop & Premises £385,000 1/4/1990 111226088 Grd Flr 498 Shop & Premises £263,500 6/7/1993 111225088 Grd Flr 500 Shop & Premises £101,000 1/4/1990 111238088 £2,500,000 1/4/1990 105769088 Pt Lbst Pt Grd Flr & 1st-6th Flrs Offices Car Park & Gulf Hse 1-2 Premises Total Linked Rateable Value (see Help) RV £4,926,500 PLANNING Authority Name City of Westminster Planning Officer Mr Gordon Chard Address Client Director & Head of Dev Planning Srvcs City of Westminster 12th Floor, Westminster City Hall Victoria Street London SW1E 6QP Plan name City of Westminster - 149-157 Harrow Road Planning Brief Status APPROVED Last Update 19/2/2009 Comments Planning Brief adopted on 28 October 2004. Plan name Status City of Westminster - 229-147 Regent St 19-27 Princess St 4-10 Hanover Sq & 1-7 Hanover St APPROVED Last Update 19/2/2009 Comments Planning Brief adopted in September 1993. Plan name City of Westminster - A Guide to Maintenance and Care of Stucco Status ADOPTED Last Update 19/2/2009 Comments SPG Adopted in March 1994. Plan name City of Westminster - A Guide to Providing Access for All Status ADOPTED Last Update 19/2/2009 Comments SPG Adopted in February 1995. Plan name City of Westminster - A Guide to Shopfronts and Advertisements in Regent Street Status ADOPTED Last Update 19/2/2009 Comments SPG Adopted in 1993. Plan name Status City of Westminster - A Guide to the Siting of Security Cameras and Other Security Equipment ADOPTED Last Update 19/2/2009 Comments SPG Adopted in 1995. Plan name City of Westminster - Advertisement Design Guidelines Status ADOPTED Last Update 19/2/2009 Comments SPG Adopted in 1992. Plan name City of Westminster - Amberley Road Adult Education Centre Status ADOPTED Last Update 19/2/2009 Comments Public Consultation on Draft 7 July - 18 August 2008. Adoption December 2008. Plan name City of Westminster - Architectural Theft: Westminster's Architectural Heritage at Risk Status ADOPTED Last Update 19/2/2009 Comments SPG Adopted in March 2000. Plan name City of Westminster - Belgravia Conservation Area Status UNDER PREPARATION Action Date 11/2/2009 Last Update 19/2/2009 Comments Public Consultation on Draft 11 February - 25 March 2009. OWNERSHIP LAFICO Last known purchaser as of: 30/6/2009 KINLOSS PROPERTY LTD Last known purchaser as of: 30/6/2009 LAND SECURITIES PLC Last known owner as of: 8/2/2006 CHEVRON PETROLEUM CO LTD Last known owner as of: 19/7/1990 MICHAEL BARRIE GROUP Last known owner as of: 29/9/1984 BUILDING HISTORY 62) Kinloss Property Ltd, a wholly owned subsidiary of Libyan Foreign Investment Company (LAFICO) has purchased the freehold interest in 146,550 sq ft (13,615 sq m) of multi-tenanted office and retail space from Land Securities Plc for £155m as an investment, reflecting a net initial yield of just over 7%. The 101,857 sq ft (9,462 sq m) of office space situated on the second to seventh floors are let on leases with 3 to 7 years unexpired at a passing rent of £49.50 to £80 sq ft. The retail accommodation totals 44,695 sq ft and is located on the ground and first floors which are let to New Look, Russell & Bromley and Boots the Chemist. The total annual rental income of is £11.5m pa. The property is held on a long lease from The Portman Estate for a term expiring 2152. Franc Warwick acted on behalf of the vendor. James Andrew International represented the purchaser. (4,152 sq m) 61) Trafigura Ltd has taken 10,064 sq ft (935 sq m) of third-floor office space from Costar Group Inc on assignment of an existing lease. A premium of £4,000,000 was agreed. MCS acted on behalf of Costar Group Inc. CB Richard Ellis represented Trafigura Ltd. . (Costar Research 19/12/07) 60) On 8th February 2006 Jones Lang Lasalle, on behalf of Land Securities plc, applied for full planning permission to use part of the car park area to the rear basement of Unit 6 as ancillary retail storage (Class A1) in connection with 484-486 Oxford Street. . (Planning Minutes 12/02/06 City of Westminster - Central) 59) An undisclosed tenant has taken 8,000 sq ft (743 sq m) of second-floor office space on confidential terms. Nelson Bakewell acted on behalf of the tenant. (FOCUS Research 26/01/06) 58) Land Securities plc owns 100,431 sq ft (9,330 sq m) of office space. Tenant's include Cluttons and Property Intelligence Ltd. . (Company Website 29/10/04) 57) Land Securities plc owns 18,730 sq ft (1,740 sq m) of retail space. . (Company Website 29/10/04) 56) Land Securities plc owns the freehold interest in the 137,890 sq ft (32,650 sq m) office and retail property. As at 31/03/04 the property was valued at above £100m. . (Land Securities plc Annual Report 31/03/04 pg 96) 55) New Look Group plc has taken 10,500 sq ft (975.5 sq m) of seventh-floor office space from Conocophillips (UK) Ltd on a sublease at around £45.00 psf (£484 psm). Churston Heard & Co Ltd acted on behalf of New Look Group plc, while CB Richard Ellis represented Conocophillips (UK) Ltd. (Property Week 28/11/03,Estates Gazette 29/11/03 p24) 54) New Look Group plc occupies 20,000 sq ft (1,858 sq m), Monsoon plc and Faith Footwear (holdings) Ltd occupy 7,000 sq ft (650 sq m) of retail space on the north side of Land Securities plc Portman House. (Property Week 07/11/03 p58 Survey) 53) Faith Footwear (Holdings) Ltd has taken 2,050 sq ft (190 sq m) of retail space from Land Securities plc. Blair Kirkman acted on behalf of Faith Footwear (Holdings) Ltd. (Retail Week 24/10/03 p23) 52) Conoco occupies space in Land Securities' property. (Estates Gazette 27/09/03 p39) 51) Property Intelligence plc has signed its lease for the third-floor of Portman House at around £40.00 psf. DTZ and CB Hillier Parker acted on behalf of Land Securities, while MCS represented Property Intelligence. The quoting rent was £45.00 psf. Due to a confidentiality clause, all lease details have been withheld. (Estates Gazette 05/07/03,FOCUS Research 21/07/03) 50) Monsoon has taken 1,021 sq m (11,000 sq ft) of retail space in Portman House from Land Securities on a 15-year lease. The store is due to open in August 2003. Dalgleish & Co acted on behalf of Land Securities. (Property Week 17/04/03 p5) 49) Land Securities own the property. (Land Securities Website 04/03/03)Cluttons this week ending 08/03/03 confirmed its move to Land Securities property. It leaves Berkeley Square (see separate record) inJune 2003 for the 19,000 sq ft fourth floor at a rent of £55 psf. DTZ and CBHP advised LandSec. (Estates Gazette 08/03/03 p32) 48) Land Securities own the property. (Land Securities Website 04/03/03) 47) New Look has taken a 20,700 sq ft flagship store from Land Securities on a lease at £1.1m pa. This follows the collapse of a deal with HMV during autumn 2002. Dalgleish & Co represented Land Securities, while Churston Heard acted for New Look. . (Estates Gazette 01/02/03 p34) 46) Land Securities owns the property. Cluttons is lining up the 20,000 sq ft fourth floor at around £55 psf. DTZ and CB Hillier Parker are advising Land Securities. (Estates Gazette 18/01/03 p36) 45) Land Securities owns the property. (Company Website 25/11/02 Land Securities) 44) HMV has pulled out of a deal with Land Securities to take 2,000 sq m (22,000 sq ft) of retail space at the property. The retail element of Portman House totals 35,000 sq ft, arranged over basement, ground and first floors. The space is available to let and Dalgleish is acting for Land Securities. . (Estates Gazette 26/10/02 p33) 43) Land Securities has cut the quoting rent on the remaining office space from £618.93 psm (£57.50 psf) to £565.11 psm (£52.50 psf). (Property Week 27/09/02 p3,Estates Gazette 28/09/02 p39) 42) Land Securities plc holds an ownership interest in the property comprising 9,330 sq m offices and 1,740 sq m of retail space. (Land Securities plc Website 31/08/02) 41) Land Securities plc owns the property comprising 9,330 sq m of offices and 1,740 sq m of retail space.As at 31/03/2002 the property was valued at £50m. (Land Securities plc Annual Report 31/03/02 p80) 40) CB Hillier Parker is marketing between 10,064 sq ft to 28,886 sq ft of office space at £60.00 psf.(CB Hillier Parker Website 06/03/02)Conoco is a tenant in Land Securities office property totalling 133,205 sq ft. The property was completed towards the end of 2001. (Estates Gazette 09/03/02 p95 Survey) 39) Conoco has taken 4,105 sq m (43,195 sq ft) of office space from Land Securities on a long term lease at a rent of over £654.84 psm (£60 psf). DTZ Debenham Tie Leung and CB Hillier Parker acted for Land Securities, while CB HiIlier Parker represented Conoco.Trafigura also occupies space in the property.The remaining 2,675 sq m (28,790 sq ft) is available on flexible lease terms through DTZ Debenham Tie Leung and CB Hillier Parker. (Property Week 11/01/02 p108) 38) Acting on behalf of Land Securities, DTZ Debenham Tie Leung has let 9,261 sq ft of third-floor office space to Trafigura Ltd. (FOCUS Research 17/10/01) 37) Acting on behalf of Land Securities, DTZ Debenham Tie Leung has let 19,261 sq ft of second-floor office space to Trafigura Ltd. (FOCUS Research 17/10/01) 36) Land Securities is developing 9,476 sq m of offices. CB Hillier Parker and DTZ Debenham Tie Leung are letting agents. Around 2,972 sq m is available and 6,503 sq m under offer. (Estates Gazette 08/09/01 p125) 35) Conoco is thought to be close to taking over 4,645 sq m (50,000 sq ft) at more than £645 psm (£62.50 psf) at Land Securities' Portman House scheme of 12,375 sq m (130,000 sq ft). Trafigura is also tipped to taking 2,785 sq m (27,000 sq ft at the scheme. CB Hillier Parker is advising land Securities, while Insignia Richard Ellis is advising Trafigura. (Estates Gazette 14/07/01 p33) 34) Trafigura, advised by Insignia Richard Ellis, is close to taking a pre-let on 2,785 sq m (27,000 sq ft) at Land Securities' Portman House at a rent of £645.84 psm (£60 psf). The 12,375 sq m (130,000 sq ft) development is scheduled for completion in September 2001. (Property Week 04/05/01 p10) 33) Land Securities plc owns the property comprising 9,430 sq m of offices and seven shops.The property has been valued at £50m. (Land Securities plc Annual Report 31/03/01 p69) 32) HSBC is considering Land Securities' 9,290 sq m (100,000 sq ft) Portman House scheme on Portman Street. Healey & Baker is acting for HSBC. Completion is scheduled for 2001. (Estates Gazette 10/02/01 p30) 31) Land Securities is redeveloping Portman House. (Estates Gazette 27/01/01 p38) 30) Land Securities redevelopment of Portman House (formerly Gulf House) is scheduled for completion in September 2001. (Land Securities plc Company Report 30/09/00 p6) 29) Chris Mills - MAA submitted a planning application on behalf of Etam on 30/08/00 for the installation of a shopfront and entrance. (Planning Minutes 30/08/00 ) 28) Etam has vacated its unit at 484/488 Oxford Street, owned by Land Securities, and sub-let the space to the Officer's Club at £768,000 pa. (Property Week 25/08/00 p5) 27) The Officers club will open its 325 sq m, former Etam shop, in November 2000. (Retail Week 18/08/00 p2) 26) Land Securities own the property. (Land Securities plc Company Report 31/03/00 p61) 25) Land Securities has won planning permission to redevelop and extend Gulf House with 18,580 sq m of retail space and 9,290 sq m of office space. Dalgleish & Co and Hillier Parker are the letting agents. (Retail Week 19/11/99 p20) 24) Land Securities is to develop 100,000 sq ft of offices and 20,000 sq ft of first-floor retail, over the existing shops, with completion planned for autumn 2001. Work has already started. (Property Week 06/08/99 p17, Land Securities plc Interim Report 30/09/99) 23) Sheppard Robson received planning permission on behalf of Land Securities on 22/04/99 for use of the first floor for retail purposes, extensions at the fourth, fifth, sixth and seventh floor levels to provide additional office accommodation, a new lift, elevational alterations and a roof plant. Office space will increase by 929 sq m gross and retail floorspace by 1,951 sq m gross. A planning application was submitted on 24/08/98 and a revised application was submitted on 15/03/99. (Westminster Planning Minutes 22/04/99) 22) Land Securities is proposing to develop about 100,000 sq ft (9,290 sq m) of air-conditioned offices and 20,000 sq ft (1,860 sq m) of retail. (Land Securities plc Annual Report 31/03/99) 21) Sheppard Robson, acting on behalf of Land Securites, submitted a planning application on 25/08/98 for the conversion of the first floor to retail use, extensions to the upper floors and refurbishment to include re- cladding and a new lift and staircases. (Westminster Planning Minutes 25/08/98) 20) Land Securities owns the property. The property is to be refurbished to provide 84,400 sq ft (7,840 sq m) of air-conditioned offices. Work is anticipated to commence before 31/12/99. (Land Securities plc Annual Report 31/03/98) 19) The lease of the offices expires in December 1999, giving Land Securities the potential for refurbishment and possible opportunity to extend the amount of retail space. (Land Securities plc Annual Report 31/03/97) 18) Land Securities owns the property which had a value of £10M or above as at 31/03/94, 31/03/95, 31/03/96 and 31/03/97. (Land Securities plc Annual Report 31/03/94, 31/03/95, 31/03/96 & 31/03/97) 17) Land Securities has let the shop at 498 Oxford Street to the Baggage Centre on a 15-year lease at £235,000 pa, equating to £236 zone A. The deal includes six months rent-free and a break option at the fifth year. Ian Scott and Dalgleish & Co acted for Land Securities and the tenant was advised by Ashley Phillips. (Chartered Surveyor Weekly 09/12/93 p8, Estates Gazette 11/12/93 p27) 16) Land Securities own the property which had a value of £10M or above as at 31/03/93. (Land Securities plc Annual Report 31/03/93) 15) A £280 psf rent review on the Etam unit at No 488 in November 1990 is disputed. (Estates Gazette Survey 25/05/91 p168) 14) In March 1989 a rent review on the Boots the Chemist unit at No 490/2 achieved £280 psf. (Lambert Smith Hampton Oxford Street Report 01/01/91) 13) Conditional planning permission was agreed as recommended on 19/07/90 for an application submitted by FDKC on behalf of Chevron (UK) Ltd. The application was for the creation of a glazed extension at fourth floor level for office use and a glazed roof over existing lightwell to form an atrium. (Westminster Planning Minutes 19/07/90) 12) Land Securities own the property which was valued at in excess of £10M as at 31/03/90. (Land Securities Annual Report 31/03/90) 11) Fry Drew Knight & Creamer submitted a planning application on behalf of Chevron (UK) Ltd on 16/03/90 to construct additional office space on the fourth floor fronting Granville Place, plus the formation of atrium in the existing lightwell. The total area proposed totals about 138,264 sq ft. (Westminster Planning Minutes 16/03/90) 10) A review of £280 zone A, was achieved on the Boots unit on review in March 1989. (Lambert Smith Hampton Press Release 23/02/90) 9) Owned by Land Securities. Valued by Knight Frank & Rutley as at 31/03/89 as having a value in excess of £10M. (Land Securities plc Company Report 31/03/89) 8) Lee Cooper Group plc subsidiary Grant Seward, trading as Jean Jeanie, has sold the lease of 488 Oxford Street to Etam plc. Ian Scott & Co acted for the vendors, while Etam were represented by Geoffrey Boardman & Co and Lawrence Calf. (Chartered Surveyor Weekly 17/09/87 p12) 7) Tenants include Gulf Oil Great Britain Ltd, Saxone Shoe Co Ltd, Ernest Jones Jewellers plc and Etam plc. Imminent reversions are expected to considerably increase Land Securities income. (Property Journal June 1987) 6) Land Securities has acquired the headlease, converting an existing 70-year leasehold to 165 years at a low fixed rent. Valued in excess of £2.5M. (Land Securities Company Report 31/03/87) 5) Boots Company plc has acquired the former Bally Group (UK) Ltd shop at 490/ 492 Oxford Street for a premium of over £500,000 and a rent of £200,000 pa. The residual lease, which expires in 1992, was acquired for Boots by Healey & Baker and Phillips Wilks & Partners. The review comes up in March 1989. The shop has a 29 ft frontage, some 2,692 sq ft at ground floor level and 550 sq ft in the basement. Churston Heard & Co acted for Bally. (Estates Times Survey 06/03/87 p23, Chartered Surveyor Weekly Survey 12/03/87 p50, Estates Gazette Survey 16/05/87 p844 & p855) 4) Underlease dated 18th November 1957 made between Land Securities plc, the Direct Raincoat Company (Stone Dri) Ltd and Joseph Stone & Co Ltd. A demise dated 4th December 1975 made between Stone Dri, The In Shop and Tootal Group plc. A licence to assign the lease on 25th July 1979 was made between Land Securities, Stone Dri, The In Shop, Tootal Group plc and Harry Fenton Mens Wear. (Michael Barrie Offer Document 15/08/86) 3) Valued in excess of £2.5M. (Land Securities Company Report 31/03/86) 2) Land Securities plc own the leasehold interest. (Land Securities Company Report 31/03/85) 1) 488 Oxford Street comprises a retail unit with a frontage of 21 ft. The long leasehold interest has been acquired by Healey & Baker on behalf of Michael Barrie Group from clients of Lambert Smith & Partners. Premium offers were being invited in the region of £300,000. Let on a lease expiring in 1990 at £180,000 pa with a rent review in November 1985. (Estates Gazette 29/09/84 p1180)
