A rare opportunity to acquire an income-producing, freehold residential mansion block on Hill Street in the heart of Mayfair featuring 65 apartments, a large commercial space, private walled garden and full planning permission allowing the purchaser to transform the building into a new luxury address, further enhancing the rental income, should they choose.
39 Hill Street is a nine-storey landmark 51,236 sq.ft Edwardian building with a selection of studio,1, 2 and 3 bedroom self-contained apartments. There is a 5,202 sq.ft garden commercial space on the lower ground floor, currently configured as a restaurant. It was formerly operated as a two Michelin star restaurant, The Greenhouse, headed up by celebrity chef Gary Rhodes.
The building has a newly refurbished entrance lobby, on-site management office and porter's office on the ground floor, two lifts, and eight floors of apartments.
The planning permission granted by Westminster Council allows for the reconfiguration and extension of the existing building to provide a luxury apartment building, with the external facade transformed with Juliette balconies, upgraded glazing and refurbished ground and first floor.
Internally, the planning consent allows for upgraded communal areas and apartment specifications, plus future potential for a 9th-floor resident amenity space.
Consent has also been granted to convert the garden restaurant into 6 additional garden apartments with patios, bringing the total to 71 apartments, increasing the building size to 54,470 sq.ft and enhancing the external facade.
— Super prime Central London location within the heart of Mayfair
— Very rare investment opportunity
— 65 apartments total
— 61 owned apartments totalling 32,863 sq ft, plus 4 additional leased units of 1,867 sq ft. Total existing apartment GIA of 34,730 sq ft
— Large commercial space (5,202 sq ft GIA) on the lower ground floor, currently laid out as a restaurant, which has implemented planning permission for conversion to 6 new residential apartments totalling 4,510 sq ft
— Current building GIA of 51,236 sq ft
— An ERV of £3,272,040 per annum and £62,923 per week on existing apartments and commercial in current condition; with a potential refurbishment ERV of £6,306,000 if finished to the specification
of the show flats
— Planning permission granted and implemented which increases residential apartment NIA of all 71 apartments to 40,933 sq ft.
— Private garden
— On-site management office
— Video entry-phone system
— Two lifts
— Two fully refurbished show flats
— Close proximity to Hyde Park, Green Park and Berkeley Square
— Walking distance to Bond Street and Green Park Underground Stations
— Close proximity to Mayfair restaurants, shops, bars, hotels and clubs
