This 50:50 joint venture with Lazari Investments, known as ‘50 Baker Street W1 JV’, acquired three leasehold properties in Q3 2021: 38-52, 54-60 and 66 Baker Street W1 totalling 122,300 sq ft with a passing rent of £5.2m (100% share). The leasehold interests range from 38 to 46 years. The total consideration equates to a net initial yield of 4.0%. Together with a fourth property owned by the freeholder, The Portman Estate, these buildings form a 1.0 acre island site capable of significant redevelopment.
This c.240,000 sq ft scheme, designed by architects AHMM, received planning permission in mid-2024. Redevelopment works are expected to commence in H1 2026.
50 Baker Street has achieved a Platinum SmartScore certification. A global standard for smart buildings recognising exceptional user experiences, cost efficiency, high standards of sustainability and future-readiness.
- Village
- Marylebone
- Type
- Offices
- Retail
- Size
- 122,300 sq ft
(11,360 sq m) - Value
- £50 - £100 million
- Architects
- AHMM
