Marylebone office block hits the market

LBS Properties and BauMont Real Estate Capital are looking to offload a West End office. The pair have appointed RX London and Savills to market the site at 95 New Cavendish Street, W1, at £24m for the Jersey Property Unit Trust in which the freehold interest is held.   LBS and BauMont purchased the building for £20.5m from Abrdn in October 2021. The 20,677 sq ft building is fully let to real estate consultancy Gleeds UK, until 30 September 2024 – at a peppercorn rent until 30 June 2024, after which it will be £25,000 per month until expiry. The site comes with planning consent for the addition of two floors that would feature private and communal terraces, plus a club room. The extension, designed by Stiff + Trevillion, would provide an additional 1,668 sq ft of space. The building is targeting top ESG credentials including a minimum of EPC A, BREEAM Excellent and WELL Platinum ratings.