A UNIQUE RETAIL OPPORTUNITYAN ICONIC FLAGSHIP STORETO LET FOR ALMOST 100 YEARS
PICCADILLYCIRCUS
Available ‘as is’ on a new Underlease
the terms of which are non-negotiable
A landmark store in the centre of the West End
Iconic Flagship store in Piccadilly Circus with over 6,297 m2 (67,745 ft2) of floor space over 12 floors
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Grade II Listed
Built in 1873 and influenced by the styles exhibited in the French Renaissance, a building that has stood the test of time.
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97 Year Term
Commencing 23 January 2020 with a 25 year rent review pattern
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12 Floors
Ground to seventh floor with two mezzanine levels, with basement & sub-basement ancillary
An iconic flagship, the Lillywhites store occupies a commanding spot adjoining the Criterion Theatre. This listed landmark was built in 1873, and has been home to the UK’s most well-known sports outfitters, Lillywhites, since 1925.
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Three entrances draw customers in from Piccadilly Circus, the corner of Regent Street and Piccadilly, and Lower Regent Street. The sales space spans seven levels, with additional floors for storage and staff accommodation.
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With no escalators, a staircase and lift connect all floors. Staff work and relax in the office and canteen space on the top floor, while two basement levels house the plant rooms and storage. Service access is off Jermyn Street, at the rear of the store.
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A new lease (Underlease) is offered to commence from 23 January 2020.
The lease will be for a term of 97 years expiring in the year 2117.
The lease will be granted on effective full repairing and insuring terms, subject to service charge recovery.
A copy of the lease (underlease) is available upon request.
The permitted user is Class A1 Retail
The lease permits internal non-structural alterations but structural alterations are prohibited.
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£4,000,000 per annum exclusive of rates and service charge.
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Every 25 years to open market rental value:
- 23rd January 2045
- 23rd January 2070
- 23rd January 2095
(5 yearly in the UK) -
The Rateable Value for Lillywhite's store is £2,060,000
The rates payable figure is £1,050,600 (£0.510 in the £)
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£293,000
The service charge payable to the landlord is for the year ending 2019
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A1 Retail
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Stamp Duty Land Tax (SDLT) will be payable on signing the lease.
At £4,000,000 pax the SDLT payable is £2,152,967
To work out SDLT at other rental levels use the calculator here
Full of over 150 years of history
The Lillywhites store is part of the Criterion building. Designed in French Renaissance style by Thomas Verity, it was built in 1873 using Portland stone, and included a restaurant, dining rooms, ballroom and concert hall.
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PICCADILLY CIRCUS IN 1895, WHERE YOU CAN SEE WHAT IS CURRENTLY HOME TO THE LILLYWHITE’S SPORT STORE
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The Criterion Theatre held its first production on 21 March 1874. It was requisitioned in World War II by the BBC as an underground studio, safe from the London Blitz.
Established sports outfitters Lillywhites started in London’s Haymarket in 1863, and moved into the Criterion in 1925. A family famous for its English cricketers, Lillywhites has a 150-year heritage across a range of sports. It’s considered the UK’s finest sports store, and has a shop and museum in the US.
A home in London's hub
At the heart of Piccadilly Circus, this tourist hub of bustling streets, international stores and engaging performances draws a daily footfall in the hundreds of thousands.
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Perfectly situated at the junction of the world-famous shopping streets of Piccadilly, Regent Street, Shaftesbury Avenue and Coventry Street, the Lillywhites store puts you at the forefront of London’s retail scene.
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With Piccadilly Circus Underground – and it’s 42 million passengers a year – on your doorstep, this is one of London’s busiest hotspots.
Where the world meets
Under the famous glow of the illuminated advertising hoardings, Piccadilly Circus is a major meeting point for international and domestic tourists. Presiding at its centre is Eros – the 1893 aluminium statue that actually depicts Eros’ brother, the Greek god Anteros, also known as The Angel of Christian Charity.
Billions of photos are taken at Eros each year – with the Lillywhites building as their backdrop. And with over 100 million people passing through annually, it’s said that a person who stays long enough at Piccadilly Circus will eventually bump into everyone they know.
A non-stop destination
Piccadilly Circus is where retail and entertainment meet. Regent Street, home to Hamleys Toy Shop and a host of international brands, connects with the cinemas, restaurants, bars and clubs of Soho and Leicester Square – taking visitors from day to night, and making Lillywhites a 24-hour trading opportunity.
The Lillywhites store is the largest, most prominent retail space fronting Piccadilly Circus, and with a new Hard Rock Café next door, it has round-the-clock appeal.
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Oxford Circus
MORBI INTERDUM, MASSA IN ELEMENTUM PORTTITOR, TELLUS ANTE FINIBUS EX, AT AUCTOR LEO ANTE AC TURPIS.
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Covent Garden
DONEC VEHICULA DONEQUE MAURIS, NON SCELERISQUE LIBERO FAUCIBUS IN. NULLA FACILISI.
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Soho
NULLAM LAOREET, METUS SOLLICITUDIN ACCUMSAN POSUERE, RISUS EST CURSUS FELIS, UT DICTUM MASS
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Mayfair
UT MAXIMUS PLACERAT VELIT, TEMPOR SAGITTIS ELIT SAGITTIS EU. NUNC SEMPER ULTRICIES NUNC EFFICITUR VIVERRA.
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Westminster
FUSCE TINCIDUNT LIBERO UT ERAT MALESUADA, SIT AMET MOLESTIE MI PRETIUM. NULLAM ID JUSTO NUNC.
Surrounded by strong retail and major tourist attractions
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67,745 ft2 (6,297 sq2)
TOTAL GROSS INTERNAL AREA (GIA) OF THE PROPERTY
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42 MILLION
PASSENGERS ENTER AND EXIT PICCADILLY UNDERGROUND STATION ADJACENT TO LILLYWHITES EVERY YEAR
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100 MILLION
PEDESTRIANS PASS THROUGH PICCADILLY CIRCUS EACH YEAR
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£15 BILLION
IS SPENT BY TOURISTS IN LONDON EACH YEAR
Accommodation
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FloorSQFTSQM
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Ground Sales & Perimeter Storage1,559144.8
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Lower Ground Sales (1) & Perimeter Storage1,836170.5
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Lower Ground Sales (2) & Perimeter Storage1,215112.9
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Upper Ground Sales (1) & Perimeter Storage1,496139.0
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Upper Ground Sales (2) & Perimeter Storage68863.9
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Ground Floors Total6,775629
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First Floor Sales & Perimeter Storage4,270396.7
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Second Floor Sales & Perimeter Storage7,816726.1
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Third Floor Sales & Perimeter Storage7,716716.8
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Third Floor Mezzanine & Perimeter Storage2,130197.9
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Fourth Floor Sales & Perimeter Storage4,270396.7
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Fifth Floor Sales & Perimeter Storage4,318401.1
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Sixth Floor Sales & Perimeter Storage6,510604.8
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Seventh Floor Staff, Canteen and Offices84878.8
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Basement Staff, Storage and Plant1,271118.1
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Sub-Basement Storage and Plant85679.5
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Total NIA46,7994,347.7
Floor Plans
Upper & Lower Basement
Ground Floor
Ground Floor Mezzanine
First Floor
Second Floor
Third Floor
Third Floor Mezzanine
Fourth Floor
Fifth Floor
Sixth Floor
Upper & Lower Basement
79.5SQM
856SQFT
Ground Floor
428.2SQM
4,610SQFT
Ground Floor Mezzanine
202.9SQM
2,184SQFT
First Floor
396.7SQM
4,270SQFT
Second Floor
726.1SQM
7,816SQFT
Third Floor
716.8SQM
7,716SQFT
Third Floor Mezzanine
197.9SQM
2,130SQFT
Fourth Floor
396.7SQM
4,270SQFT
Fifth Floor
401.1SQM
4,318SQFT
Sixth Floor
604.8SQM
6,510SQFT
Gross Internal Area
65,592 ft2 / (6,093.7 m2)
2,153 ft2 / (200.0 m2)
67,745 ft2 / (6,297.7 m2)
Store Frontage
206'6" (63 m)
127'6" (38.9 m)
114'3" (34.8 m)
92'3" (28.1 m)
Contact
For further information please contact the joint letting agents below.
Please note that the terms & clauses in the underlease (copy available) in relation to lease length, repairs, alienation, alterations, etc, are non-negotiable. The store is offered 'as is' for A1 retail use only and with a rent free period but no other incentives or capital contribution.