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Screen capture of Walmar House website at Walmarw1.com

Screen capture of Walmar House website at Walmarw1.com

22.05.2015

Walmar House

Address:
296-300 Regent Street, London W1B 3HW
Type:
Commercial
Completion:
January
Area:
60,100 sq ft
Website:
Viewed:
2572

Description of Walmar House

Walmar House is a commercial building on Regent Street, London W1.

In October 2014, GPE completed the 60,100 sq ft mixed-use comprehensive refurbishment of Walmar House. Shortly after completion, GPE let the entire office accommodation (37,700 sq ft) on a 15 year lease (no breaks) to Richemont, the luxury goods retailer, paying £2.6 million p.a. GPE have also let four of the five retail units (11,100 sq ft) for £1.1 million per annum. Despite the scheme completing eight months later than planned, it delivered a profit on cost of 53.8% and an ungeared IRR of 25.8%.

Connected Companies

Buildington Rating & Notes

News & Comments: (1)

Buildington
2015/07/08 12:46

Great Portland Estates has secured £0.6 million of new annual rent for the last remaining retail unit (6,400 sq ft) at Walmar House on a 10 year lease (no breaks) to North Face, the outdoor apparel specialist.

The scheme is now fully let and will generate a rent roll of £4.3 million with a WAULT of 13.9 years.

Source: Great Portland Estates trading update for the quarter to 30 June 2015.

*DISCLAIMER! Information on this page is for guidance only and remains subject to change. Buildington does not sell or let this property. For more information about this property please register your interest on the original website or get in touch with the Connected Companies.

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