The Portman Estate has put three residential properties with redevelopment potential up for sale in London’s Marylebone district.
The estate is selling the end of terrace 44-46 Seymour Place for £3m. The period property comes with planning permission for reconfiguration works.
It is also marketing the Grade II listed 2 Spanish Place – a mixed-use, mid-terrace property comprising two residential apartments and a medical practice off Manchester Square. The building is being sold with planning permission for a change of use, reconfiguration and redevelopment to an apartment on the ground floor and a three-storey townhouse on the upper floors, with a guide price of £3.5m. Both properties are being offered with vacant possession.
And at 41 Manchester Street (pictured), The Portman Estate is selling the currently derelict Grade II listed building, which is configured as an HMO. The property has 13 bedrooms and two self-contained apartments and has a guide price of £2m on an unconditional basis opportunity.
Anthony Kazan, head of Central London development land at Knight Frank, which has been appointed to market the opportunities, said: “Marylebone has experienced exceptional rise in popularity in recent years and opportunities such as these are extremely rare. We expect strong interest from owner occupiers and investor/developers alike, who will be attracted not only to the superb location but also the additional opportunity value that each property presents.
“Knight Frank research predicts a cumulative growth of 23.9% in the prime central London rental prices over the next five years. These properties present a unique opportunity to take advantage of this growth.”
