Amazon Property is to sell a rare West End office opportunity from its recently acquired Soho Works estate, W1.
The luxury residential developer has appointed Michael Elliott and Montagu Evans to sell 47-50 Poland Street. Offers in excess of £45m are sought.
The sale comprises three adjoining office-led largely vacant buildings totalling 43,938 sq ft.
A proposed mixed-led Trehearne Architects-designed scheme (pictured) comprising 55,000 sq ft of offices with shop space has been worked up.
Charles Gourgey’s and Chris Lanitis’s Amazon bought the 74,123 sq ft Soho Works estate for around £80m at the end of last year from TIAA Henderson Real Estate.
It is understood the firm will retain 54-57 Great Marlborough Street, where it is working up plans for flats, but wanted to capitalise on investor appetite for Soho office stock.
Subject to planning, a new grade-A office development would provide desperately needed office stock in Soho, where vacancy levels are extremely low.
Colliers International has forecast that Soho office rents will soar from close to £90 per sq ft to £96.50 per sq ft by the end of 2018 owing to occupier competition for stock.
Once famed for being the stomping ground of the late pornography and property magnate Paul Raymond, Soho continues to be an office and residential hot spot.
All parties declined to comment.
