Development Potential:

The property has significant redevelopment or repositioning potential (subject to planning permission), with opportunities to reconfigure and add a floor in line with neighbouring properties. LDG commissioned local practice Works Architecture to explore the feasibility of adding a floor. Their study indicates the potential for a third-floor extension, providing approximately 72 sqm (GIA) and 57 sqm (NIA), along with an external terrace of 19 sqm, which would significantly enhance the building’s appeal and value.

Location and Transport:

Hanway Street is located just 200 metres from Tottenham Court Road’s new Elizabeth Line entrance, providing exceptional connectivity across London and beyond. The Central and Northern Lines provide additional transport options, while the street’s character perfectly embodies Fitzrovia’s reputation as a creative and media district.

Financial Advantages:

The property is securely held within a clean Special Purpose Vehicle (SPV), offering purchasers significant financial benefits. Consideration will be given to treating any potential sale as a Transfer of a Going Concern (TOGC), which would yield an estimated Stamp Duty Land Tax saving of approximately £200,000. These substantial savings significantly enhance the investment proposition.

Specification and Amenities:

Despite the characterful warehouse aesthetic, the property provides comprehensive modern facilities. Each floor includes fully fitted kitchens and cloakrooms, eliminating the need for significant additional investment. Air conditioning ensures year-round comfort, while central heating provides warmth during colder months. The premises are fully cabled with CAT 5E cabling, ready for immediate technology installation and connectivity requirements.

A private meeting room provides a dedicated space for confidential discussions or client presentations, which are essential for professional services businesses. The self-contained nature means complete privacy and control over your workspace, without the compromises inherent in shared buildings or multi-let developments.

Key Features:

• Self-contained former warehouse building
• Characterful cobbled mews location
• Exposed brickwork creates an authentic industrial aesthetic
• Engineered wooden flooring on the ground floor
• High-pitched ceiling with skylighting on the first floor
• Exposed metal beams add architectural interest
• Air conditioning throughout
• Central heating for year-round comfort
• Fully fitted kitchens on both floors
• Cloakrooms on each level
• Private meeting room included
• Fully cabled with CAT 5E cabling
• Not fitted, providing a blank canvas for your specification

Location Advantages:

Grafton Mews is located in the creative heartland of Fitzrovia, surrounded by media companies, design agencies, and innovative businesses. The mews setting provides a quieter working environment compared to main thoroughfares while maintaining full access to neighbourhood amenities and transport links.

Warren Street station (Northern and Victoria Lines) and Euston Square station (Circle, Hammersmith & City, and Metropolitan Lines) are both within a comfortable walk. The location also offers reasonable access to Tottenham Court Road on the Elizabeth, Central, and Northern lines. This transport redundancy proves invaluable during disruptions affecting individual lines.

Strategic Location:

Located in Fitzrovia’s Northern Quarter, the properties are in an area of particular interest to medical, scientific, and educational occupiers, given their proximity to University College London Hospital (UCLH) and the wider “Knowledge Quarter.” This positioning creates natural demand from healthcare providers, medical consultancies, research organisations, and educational institutions.

The Euston Road location offers exceptional visibility, with high pedestrian and vehicle traffic, exposing your business to thousands of people daily. This prominent positioning benefits professional services, builds local reputation, supports medical practices that require patient accessibility, and appeals to organisations that value street-level presence.

Transport and Connectivity:

Euston Road’s position between multiple major transport hubs proves exceptional. Euston Station, King’s Cross St Pancras, and Warren Street are all within comfortable walking distance, providing access to virtually every London Underground line and national rail services across Britain. International connections via Eurostar add European accessibility for businesses with continental clients or operations.

Property Features:

The high-quality fit-out includes:

• Substantial full-height glass window frontages
• Good ceiling heights on ground floors
• Air conditioning (not tested)
• Fitted kitchenettes in each unit
• Restrooms and shower facilities
• Wood flooring throughout
• Raised mezzanine working areas
• Fibre connectivity installed
• Class E is suitable for offices, medical facilities, showrooms, and other uses.

Tenure and Financial Details:

The properties are held on long leasehold interests expiring December 2997 (973 years remaining), providing security comparable to freehold while avoiding potential leasehold concerns. Ground rent stands at just £150 per annum, a nominal sum that creates minimal ongoing cost burden.

Business Rates:

• Rateable Value: £87,000 (units currently rated together)
• Annual Rates Payable: £41,760
• Service charge information available upon request
  

The property is elected for VAT, which may have implications depending on the purchaser’s circumstances and intended use.

Investment Highlights:

The property presents multiple value-creation opportunities. The freehold tenure provides complete control over future use and development strategies. Investors could continue the current mixed-use approach while improving rent roll through refurbishment, or pursue redevelopment into residential or alternative mixed-use schemes, subject to planning consent. The attractive corner position, period character, and substantial plot offer significant potential for creative development approaches.

Location and Transport:

The Greyhound enjoys excellent transport connectivity within a quiet residential pocket of Shepherd’s Bush, W12. Goldhawk Road station (Circle and Hammersmith & City Lines) and Shepherd’s Bush Market station are within a comfortable walk. In contrast, Shepherd’s Bush station offers Central Line and Overground services linking directly to the West End, Paddington, and Clapham Junction.

Numerous bus routes operate along nearby Uxbridge Road and Askew Road, connecting to Hammersmith, Notting Hill, and White City. The A40 Westway provides convenient road access to Central London, Heathrow Airport, and the M25, making the location particularly accessible for those requiring vehicle access.

Development and Refurbishment Potential:

The property suits various strategic approaches:

• Continue current mixed-use operation while improving rental income
• Refurbish and reposition the ground-floor hospitality space
• Convert entire building to residential use (subject to planning)
• Redevelop site for modern mixed-use scheme (subject to planning)
• Owner-occupy ground floor while retaining upper floor income

The attractive corner building has strong character and period detailing that could be preserved and enhanced through sympathetic refurbishment, or the site could be redeveloped for a contemporary scheme that maximises the plot’s potential.

Financial Details:

At £675,000 for 1,223 square feet, the property represents approximately £552 per square foot, offering significant value compared to comparable Fitzrovia or central London options. The pricing reflects Shoreditch’s position while acknowledging the quality of the development and fit-out.

Annual Costs:

• Service Charge: £6,035.90 per annum
• Reserve Fund: £788.40 per annum
• Business Rates Payable: £21,816 per annum
• Total Annual Costs: £28,640.30

Tenure:

• Long leasehold interest expiring January 3001 (976 years remaining)
• Ground rent: £250 per annum
• Property elected for VAT

The long leasehold term provides security comparable to freehold ownership, while the nominal ground rent creates minimal ongoing burden. The comprehensive service charge covers building maintenance, security, and communal area upkeep, providing predictable occupancy costs.

Location and Transport:

Shoreditch’s reputation as London’s tech and creative heartland makes this location particularly appealing for businesses operating in these sectors. The area’s energy, innovative business community, and creative culture create an environment distinct from traditional corporate districts.

Transport connectivity serves Shoreditch well, with Old Street station (Northern Line and National Rail) providing direct access to the City and central London. Numerous bus routes cover the neighbourhood, while Shoreditch High Street Overground station offers additional connectivity. The area’s cycling culture means many staff commute by bike, making the cycle storage and shower facilities particularly valuable.

Ideal For:

• The property particularly suits:
• Creative agencies and design studios
• Technology startups and scale-ups
• Digital marketing and media companies
• Architectural and engineering consultancies
• Professional services targeting creative clients
• Small corporate offices valuing Shoreditch’s energy
• Investors seeking affordable central London office space

The 15-desk capacity suits small teams, and the fitted nature requires minimal additional investment before occupation. The furnished option eliminates furniture costs, enabling quick move-in for businesses seeking immediate operational capability.