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The Grove 248 Marylebone Rd 24,990 SF 100% Leased Office Building London NW1 6JF $55,797,371 CAD ($2,232.79 CAD/SF) 5.75% Cap Rate
INVESTMENT HIGHLIGHTS
- Landmark West End freehold with exceptional connectivity
- Reversionary rental profile with proven growth trajectory
- Fully let to high-quality tenants across fintech, advisory, and government
- Grade A specification with terraces, showers, and bike racks
EXECUTIVE SUMMARY
The Grove presents a rare opportunity to acquire a fully let, freehold Grade A office building in the heart of Marylebone, one of London’s most prestigious West End districts. This post-modernist landmark, originally built in the 1980s and comprehensively refurbished in 2012, offers 25,004 sq ft of high-specification workspace across seven floors, including a dramatic double-height reception and terraces on the upper levels. The building benefits from excellent natural light on three elevations, full DDA compliance, BREEAM Excellent certification, and end-of-trip facilities including showers and bike racks.
Strategically positioned on a prominent corner site at Marylebone Road and Lisson Grove, the property enjoys exceptional connectivity—just a two-minute walk from Marylebone Station and 15 minutes from Paddington, with direct access to the Elizabeth Line. The surrounding area is rich in amenities, from luxury hotels and fine dining to cultural landmarks and green spaces like Regent’s Park.
The Grove is fully occupied by a diverse and resilient tenant mix and the building has demonstrated strong tenant retention and minimal void periods, with an average occupancy of 94.44% since 2014. The passing rent of £71.22 per sq ft is highly reversionary, with recent lettings achieving up to £90.00 per sq ft and Marylebone prime rents exceeding £110.00 per sq ft. Offers are invited in excess of £30 million, reflecting a net initial yield of 5.75% and a capital value of £1,199 per sq ft.
Strategically positioned on a prominent corner site at Marylebone Road and Lisson Grove, the property enjoys exceptional connectivity—just a two-minute walk from Marylebone Station and 15 minutes from Paddington, with direct access to the Elizabeth Line. The surrounding area is rich in amenities, from luxury hotels and fine dining to cultural landmarks and green spaces like Regent’s Park.
The Grove is fully occupied by a diverse and resilient tenant mix and the building has demonstrated strong tenant retention and minimal void periods, with an average occupancy of 94.44% since 2014. The passing rent of £71.22 per sq ft is highly reversionary, with recent lettings achieving up to £90.00 per sq ft and Marylebone prime rents exceeding £110.00 per sq ft. Offers are invited in excess of £30 million, reflecting a net initial yield of 5.75% and a capital value of £1,199 per sq ft.
PROPERTY FACTS
Sale Type
Investment
Property Type
Office
Tenure
Freehold
Building Size
24,990 SF
Building Class
B
Year Built/Renovated
1987/2012
Price
$55,797,371 CAD
Price Per SF
$2,232.79 CAD
Cap Rate
5.75%
NOI
$3,208,349 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
7 Stories
Typical Floor Size
3,570 SF
Building FAR
1.17
Lot Size
0.49 AC
Parking
12 Spaces (0.48 Spaces per 1,000 SF Leased)
AMENITIES
- Bus Line
- Commuter Rail
- Raised Floor
- Accent Lighting
- Energy Performance Rating - B
- Roof Terrace
- Bicycle Storage
- DDA Compliant
- Demised WC facilities
- Natural Light
- Shower Facilities
- Air Conditioning
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The Grove | 248 Marylebone Rd
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