London, WC, West Central
investing in commercial property in West Central,
(Fitzrovia, soho, Holborn, covent garden, temple).
London, west central, the postcodes starting with WC1, WC2, denotes the very central location; the city's and possibly the UK's cultural centre. With it also being surrounded by key, institutional landmarks such as St. James Palace, Buckingham Palace, Whitehall, Royal Courts of Justice, Scotland Yard, HMRC across the river, the Bank of England on the other side of St.Paul's, all the major retailers of fashion; west central becomes a strategically intelligent choice for every corporation and aside from who else is close by, this is the centre of one of the most important capital cities in the world.
What makes West Central unique is it's proximity to the highest institutions in the country, it's history that stretches as far back as London itself; the Inns of Court (Law) in Holborn date back to 1234 AD.
West Central is iconic and aesthetic, marked by it's treasured cultural, artistic and educational establishments; London's West End: Covent Garden, Aldwych, Leicester Square, Charing Cross, Chinatown. Theatreland: The location of world class music and arts venues. Royal Opera House to the Theatre Royal Drury Lane, National Portrait Gallery, Somerset House, British Museum and the Wellcome Collection; London’s top universities, including; LSE (London School of Economics), King's College, SOAS and UCL.
Primary Streets
The Strand, Southampton Row, Tottenham Court Road, Charing Cross Road, New Oxford St, Chancery Lane, Russell Square.
Famous Landmarks
Trafalgar Square, The British History Museum, Leicester Square, The Savoy Hotel, Camden Square
Asset Types:
Large and small retail stores, entertainment venues, restaurants, bars, small offices above retail units), medium to large size office buildings.
Office Purchase prices in WC1, WC2
Towards Kings Cross: £1160 / Sq. Ft, Bedford Square: £600/Sq. Ft; Gray's Inn: £550 /Sq. Ft; Bloomsbury: £1000 /Sq. Ft
Office Rental prices in WC1, WC2
Mayfair: £85 - 120/Sq. Ft; Marylebone: £85/Sq. Ft; Fitzrovia: £70 / Sq. Ft; Soho: £79-89 / Sq. Ft
Verdict
The most diverse and public part of London, featuring the country's biggest lifestyle centre through entertainment establishments such as major theatres, famous restaurants, bars, the country's widest selection of retail stores, it's ideal for offices and still popular for residents. The area has history, architecture and vivid ambience; making ideal for international and local tourism.
high holborn, wc1v
Rent Price per Sq Ft: Office: £ 65 / Sq Ft; £85 / Sq Ft for more modernised buildings.
Purchase Price Per Sq Foot: Office: £985 - 1100 / Sq Ft.
Featured buildings: Stapl;e Inn, Rosewood London, Holborn Bars (Prudential Assurance Building), Princeton House
Description: High Holborn is a major thoroughfare in central London, linking the shopping district (Oxford St) with the legal quarter (Chancery Lane), Student's Quarter (London School of Economics), St. Paul's and the financial quarter (London Stock Exchange, Bank of America). The road is also know as the A40; a major dual carriageway that will eventually lead to the M40 motorway and deep into the county of Warwickshire. Access to the street is provided by Holborn, Chancery Lane and St. Paul's tube stations. Buildings can be retaining significant historical importance as well as heritage architecture, amongst the new developments of steel and glass. There is little offered around the vicinity in terms of residences but there is a plethora of office blocks, existing and incoming that contribute to an ever changing sjkyline.
Southampton Row, WC1V
Rent Price per Sq Ft: Office: £ 65 / Sq Ft;
Purchase Price Per Sq Foot: Office: £1125 / Sq Ft.
Feature buildings: Victoria House, Southampton Row Hotel, Carlisle House, 1 Southampton Row
Description: Southampton Row represents a glorious Victorian past; grand Victorian facades adorn buildings all along the street, which heads south towards the educational quarter (London School of Economics) and corporate offices, including that of the BBC. Southampton Row is a busy street, acting as a main thoroughfare heading north through the city centre.
Russell Square, WC1B
Rent Price per Sq Ft: Office: £ / Sq Ft;
Purchase Price Per Sq Foot: Office: £1324 / Sq Ft.
Feature buildings: Kimpton Fitzroy Hotel, Imperial Hotel
Description: Forming part of the Bedford Estate, Russell Square was formed in the early 1800s and has been a choice location for prominent figures in the past, from aristocrats, architects and writers. Today, it is the location for non profit organisations, middle class family residences and hotels; The Fitzroy is a large, beautifully ornate building on the east side of the square. The Russell Family have owned The Bedford Estates' land holdings in Bloomsbury since 1669.
St Giles High St, WC2H
Rent Price per Sq Ft: Office: £69.00 - £79.60 / Sq Ft;
Purchase Price Per Sq Foot: Office: £1,765 / Sq Ft.
Feature buildings: Central St. Giles (Google premises).
Description: The High St of St. Giles is made significant by two factors; first: it's proximity to Tottenham Court Road, which implies a similar proximity to Shaftesbury Avenue, Oxford St, Soho, Fitzrovia, Covent Garden and Leicester Square. Secondly, St Giles is now dominated by a major mixed use development; Central St. Giles; featuring 408,000 Sq Ft of office space, 109 residential units and 25,000 Sq Ft dedicated to restaurants. The spaces are oriented around a central courtyard / piazza. The development sets a precedence for other high profiles developments to enter the area and for other high profile tenants to accompany Google who have taken up 60% of the office spaces.
Other worthy factors of note include is Crossrail; the Elizabethan line can be accessed from the Tottenham Court Road stop, which is the same station from where the central line tube can be accessed. The junction of Tottenham Court Road and Oxford St has received much development as well as the skyscraper Centrepoint; which was converted from office to prime residential.
wellington st, WC2B
Rent Price per Sq Ft: Office: £ 85 / Sq Ft;
Purchase Price Per Sq Foot: Office: £1325 - 1475 / Sq Ft.
Feature buildings:
Description: The road starts as Wellington St before metamorphosing into Bow St and Endell St; stretching the route all the way to High Holborn. The route is not as high profile as other major routes but Wellington St is highly regarded, very popular and in strong demand; it's prices represent far higher prospects of growth, in comparison to the remainder of the route which becomes a minor backroute, yet still highly favourable for being quieter, more conducive, to an office environment..
drury lane, WC2B
Rent Price per Sq Ft: Office: £ 65 / Sq Ft;
Purchase Price Per Sq Foot: Office: £ / Sq Ft.
Feature buildings: Drury House, Grain House, Theatre Royal
Description: Drury Lane has a retro character, being a location off the main thoroughfare and away from the tourist attractions. It has an important advantage of being less disturbed by traffic and yet it is within walking distance of so many important locations; including leisure and transport links. The rent rates are favourable for the small to medium sized businesses.
New Oxford St, wc1A
Rent Price per Sq Ft: Office: £60 - 75 / Sq Ft;
Purchase Price Per Sq Foot: Office: £1875 / Sq Ft.
Feature buildings: No.1 New Oxford St, The Post Building, Soho Place.
Description: New Oxford St couldn't be described as an extension of Oxford St because the locations are both vastly different; whilst one is presenting some of the UK's largest fashion brands and other major, international retailers, the other (New Oxford St) is for prime offices. New Oxford St could be considered as the gateway to the financial district, the same route that will also take it past St. Paul's cathedral.
Bloomsbury Way, wc1A
Rent Price per Sq Ft: Office: £69 / Sq Ft;
Purchase Price Per Sq Foot: Office: £ 1215 - 1325 / Sq Ft.
Feature buildings: The Bloomsbury Building, LABS House
Description: Being so close to Oxford St, The British Museum, Bloomsbury Square, the location for a number of significant office buildings and with prime roads coming off this major, but short road; Bloomsbury Way should be noted by every investor as a location in demand and where more significant developments could be expected.
St. Giles Square, wc2
Rent Price per Sq Ft: Office: £ 90 / Sq Ft;
Purchase Price Per Sq Foot: Office: £1500 / Sq Ft.
Feature buildings: Centre Point, St Giles In the Fields
Description: The tallest tower in the vicinity is Centre Point Tower and at the base of it is St. Giles Square, pedestrianised and more tranquil from the vibrancy of the nearby Oxford St junction. The area has gone through considerable changes as it was revitalised following the introduction of the Elizabeth Line at the Tottenham Court Road Station.
Bloomsbury Square, wc1A
Rent Price per Sq Ft: Office: £ 80-100 / Sq Ft;
Purchase Price Per Sq Foot: Office: £ 489/ Sq Ft.
Feature buildings: Victoria House, Pharmaceutical Society Building
Description: Bloomsbury Square, like most squares, offer coveted green space, better views and some distance from neighbouring buildings. The square is made pleasant from beautiful Georgian and Victorian buildings; the most prominent of which is Victoria House, which has enjoyed considerable increase in it's own value of late.
the strand, wc2
Rent Price per Sq Ft: Office: £ 85 / Sq Ft; Retail: 195 / Sq Ft
Purchase Price Per Sq Foot: Office: £ 1400 / Sq Ft.
Feature buildings: The Savoy, Shell Mex, One Strand, Charing Cross Station.
Description:
Kingsway, WC2B
Rent Price per Sq Ft: Office: £ 65 / Sq Ft;
Purchase Price Per Sq Foot: Office: £ 775 / Sq Ft.
Feature buildings:
Description:
Chancery Lane, WC2A
Rent Price per Sq Ft: Office: £ 65 / Sq Ft;
Purchase Price Per Sq Foot: Office: £ 1100 / Sq Ft.
Feature buildings:
Description:
Aldwych, WC2B
Rent Price per Sq Ft: Office: £ 69.50 / Sq Ft;
Purchase Price Per Sq Foot: Office: £ 1315 / Sq Ft.
Feature buildings:
Description: Even though the prices above may appear to be competitive, this is a highly coveted and prestigious location; acting as the gateway between professional services (media, law, finance) and the west end (Covent Garden, Trafalgar Square, Soho). Any occupier taking advantage of the lower rates will find that the spaces are considerably large and thus, these options will attract and favour the larger corporations.
LINCOLN INN FIELDS, WC2A
Rent Price per Sq Ft: Office: £ 90 / Sq Ft; or substantially reduced when acquiring larger spaces.
Purchase Price Per Sq Foot: Office: £ 1081.9 / Sq Ft.
Feature buildings:
Description:
John St, WC1N
Rent Price per Sq Ft: Office: £ 50 / Sq Ft;
Purchase Price Per Sq Foot: Office: £ 950 / Sq Ft.
Feature buildings:
Description:
Bedford Row, wc1x
Rent Price per Sq Ft: Office: £ 65 / Sq Ft;
Purchase Price Per Sq Foot: Office: £ 1215 / Sq Ft.
Feature buildings:
Description:
Disclaimer
The information displayed here comprises of a location summary, of which Mountesque Ltd makes no warranty as to the accuracy or completeness of the information, which is to act as a guide at the viewers discretion. Whilst the information is periodically maintained by Mountesque; they are subject to market, economic and geographic changes and influences, as well as individual and collective interpretation and viewpoint. Please contact us directly for direct assistance with enquiries and guidance on our consulting packages.