A seven-building estate which occupies the majority of an island site fronting New Oxford Street is to be brought to market by Michael Elliott.
The agent has been instructed by a private client to sell the New Oxford Street Estate at 35-41 New Oxford Street, WC1, for £17m, reflecting a capital value per sq ft of £732 on the existing area.
The adjoining buildings, including including 35-41 New Oxford Street, 16A/B & 18 West Central Street and 10-12 Museum Street, occupy a 0.2-acre site with the potential for substantial redevelopment.
At present the buildings provide 23,218 sq ft of retail, office, leisure and residential space which is 67% vacant.
A scheme to partially refurbish and extend the estate has been proposed and a more comprehensive mixed-use redevelopment is also possible.
The estate sits within the borough of Camden and is part of the Bloomsbury conservation area.
