11 Old Queen Street

St James’s

Jeremy, in his previous role as MD of The Milton Investment Fund, has acquired five office properties on Queen Anne’s Gate sold with a change of use to residential.

The acquisition of Old Queen Street was acquired in a continuation of this successful business model.

Purchased in joint venture with a foreign high net worth, planning consent for the property was successfully obtained and following a period of marketing was sold to a private individual.

STRENGTHS

  • Charming Georgian house
  • Excellent position in St James'
  • Acquired with vacant possession
  • Delayed completion

OPPORTUNITIES

  • To enhance the asset value through a residential consent
  • To sell without undertaking the residential conversion
  • To undertake refurbishment to further profitability

WEAKNESSES

  • No garden
  • North facing
  • Location was still emerging as a recognised residential pitch

Threats

  • Planning risk in a sensitive location
  • Void risk
  • Dated services needed replacement