Excess of £1,900,000

Other Palace Theatre12 Palace Street, London, SW1E 5JA

  • Under offer
  • Virtual freehold

Key features

  • Virtual freehold theatre investment
  • 999 year interest from 8 November 2006
  • 75 year occupational lease from 17 September 2012
  • Let to leading theatre opperator The Really Useful Theatres Group
  • Current rent £100,000 per annum
  • Business unaffected by sale
  • Prime Victoria location

Located in the heart of Westminster in London’s West End, in one of the capitals most exclusive and affluent districts.

About this property

  • The property forms part of the 12 Palace Street seven storey development with a 302 seat theatre auditorium, separate cabaret/studio venue, bar and restaurant arranged over lower basement, basement, ground and first floor levels.

Local information

  • The district benefits from an influx of both commuters given the close proximity to Victoria Station as well as tourists interested in exploring the many attractions in the area including Buckingham Palace, Westminster Abbey, Westminster Cathedral and Tate Britain.
  • The Other Palace Theatre occupies a prominent position at the intersection
  • between Warwick Row and Palace Street in a mixed use residential and commercial
  • area. The property is adjacent to the Phoenix public house (Geronimo Inns/Young’s), the Nadler Victoria Hotel and directly opposite 1 Palace Street, a development of 72 luxury apartments due for completion in December 2019 http://numberonepalacestreet.com/. Immediately to the rear of the property
  • is Cardinal Place where occupiers include Marks and Spencer, Browns (Mitchells and
  • Butlers), Zizzi, Wagamama and Nando’s.
  • The area immediately surrounding the theatre has undergone significant redevelopment including the £700m upgrade of London Victoria Station by Transport for London and the £2bn, 5.5 acre, Nova Victoria development by Land Securities providing 480,000 sq ft of offices, 85,000 sq ft of retail/restaurants and 170 luxury apartments.

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