The Edwardian baroque Carlisle House on Southampton Row, WC1, has been put on the market, with potential for redevelopment.
Watling Real Estate has been instructed to sell the Holborn property, which has two distinct elements – the 18,016 sq ft former hotel at 8-10 Southampton Row, built in 1906, and air rights over the Crossrail/Transport for London Fisher Street access shaft and headhouse.
According to Radius data, the company behind plans to extend the hotel was IDE Real Estate, which was placed into administration in 2022.
Joint fixed-charge receivers Nathan Pask and Andrew Foster have been appointed and offers are now invited for the long leasehold interests of 147 and 247 years. A previous sale was attempted in 2019.
Watling Real Estate associate Matthew Southall, said it was “a multi-faceted real estate asset with a number of potential options available to an incoming investor/developer”.
Despite being built as a hotel, Carlisle House has been a public house, private residential, education space and offices. It served as temporary offices and accommodation for Crossrail until 2019, while the ground and basement floors have previously been used as The Ivy House and The Carlisle pubs.
Planning consent granted in 2020, and soon to expire, allows for the development of a linked eight-storey extension, spanning both plots, incorporating an 85-bedroom hotel with bar, restaurant and an additional nine residential units.
A separate planning consent, granted in 2015 but now expired, allowed for a 22-home residential development in an eight to nine-storey building over the Crossrail site.
Watling Real Estate was created in June through a management buyout of Avison Young’s real estate restructuring division, and was originally part of GVA before the merger in 2019. It is backed by private family office Bassi Capital.
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