76 Harley Street, Marylebone, London

Description

Grade II Listed, rarely available five storey freehold asset arranged over ground, lower ground, first, second, third and fourth floors. Currently arranged as a ground and first floor dentist, a basement physiotherapist, and three three-bedroom residential apartments over the second, third and fourth floors. The property benefits from a new roof. VAT is not applicable to the sale.

Accommodation

Approximately 1,051 sq m (11,307 sq ft). Ground and first floor dentist, basement physiotherapist, and three three-bedroom residential apartments on the second, third and fourth floors. One flat is vacant on completion and ready to be re-let.

Location

Prominently situated on the east side of Harley Street, close to its junction with Weymouth Street and New Cavendish Street, in the heart of the internationally renowned Harley Street Medical Area. Marylebone is situated within the City of Westminster and immediately north of Mayfair.

Tenure / Property Information

Investment Analysis

The £14,250,000 guide price is the only supplied purchase-value evidence. No completed sales, external rental comparables, lease details or formal valuation evidence are provided, so GDV and market value cannot be reliably established. The current passing income of £519,984 pa equates to approximately 3.65% gross on the guide price; the auctioneer’s ERV of £600,000+ would equate to approximately 4.21% gross or more if achieved.

Investment Snapshot

Strategy Recommendation

Consider only as an income-led mixed-use hold, subject to full lease, tenancy, medical-use, building-condition and valuation due diligence. Do not rely on a flip or BRRR strategy at the guide price without stronger value and cost evidence.

Works Required

Re-let the one vacant residential flat on completion. Any required redecoration, compliance, repair or tenant works are not specified. Grade II Listed status may require appropriate consents for alterations; the roof is stated to be new.

Rental & Market Context

Potential BRRR Position

A BRRR analysis cannot be completed reliably because no GDV, refurbishment budget, finance terms, valuation yield or acquisition costs are supplied. The asset has stated investment income and one vacant flat with reletting potential, but the guide-price basis does not support a quantified refinance or cash-left-in calculation.

Buy-to-Let Analysis

The stated passing rent is £519,984 pa, or £43,332 pcm, producing approximately 3.65% gross on the £14.25m guide price before finance, tax, operating costs and acquisition costs. The auctioneer’s £600,000+ ERV implies approximately £50,000 pcm and 4.21% gross or more, but this is an estimate rather than achieved rent. The vacant flat and unavailable lease details prevent a complete income-security assessment.

Flip Analysis

A flip appraisal is unsupported. No completed sales, formal GDV, refurbishment cost, selling costs or exit evidence are supplied. The building is Grade II Listed and currently configured as a medical and residential investment, making a simple resale-margin assessment inappropriate without further valuation and cost evidence.

Investor Risks & Due Diligence

• One residential flat is vacant on completion and its reletting income is not separately evidenced.

• The £600,000+ ERV is an auctioneer estimate, not achieved rent.

• Lease terms, tenant covenants, rent reviews, breaks, expiry dates and occupational liabilities are not supplied.

• No acquisition fees, buyer premium, administration charge, refurbishment budget or finance costs are provided.

• Grade II Listed status may constrain alterations and require listed-building or other consents.

• No completed sales or external rental comparables are supplied to substantiate the guide price or GDV.

• The property has mixed medical and residential use, requiring confirmation of relevant occupational, planning and compliance matters.

Recommendation

Consider only as an income-led mixed-use hold, subject to full lease, tenancy, medical-use, building-condition and valuation due diligence. Do not rely on a flip or BRRR strategy at the guide price without stronger value and cost evidence.

Strategy Rating

Analysis Confidence

The guide price, accommodation, tenure, stated passing income and auctioneer ERV are provided, but there are no sale comparables, detailed leases, EPC, fees, works budget, formal valuation or finance assumptions.