Avison Young appointed over Grade-II listed Carlisle House, Holborn18 Nov 2021
Avison Young has been appointed to market Carlisle House, close to London’s West End, on behalf of the joint Fixed Charge Receivers, Nathan Pask & John Wills.
Avison Young's Restructuring Solutions and Hotels teams are advising on the 18,000 sq ft property, which comprises two distinct elements: a substantial Edwardian Baroque detached building, and a site to the rear that accommodates the Crossrail Fisher Street shaft and TFL headhouse.
Originally built as a hotel, the property has over the years supported a range of uses, most recently serving as short-term Crossrail offices vacated in 2019.
The property benefits from two existing planning permissions, both presenting extensive redevelopment prospects. A 2020 planning permission covers a substantial linked eight-storey extension incorporating an 85-room hotel with bar & restaurant with an additional nine residential units. A separate planning permission was granted in 2015 for a 22-unit residential development in a new eight- to nine-story building over the Crossrail site.
The site is located within a lively Midtown location close to Holborn Station and within easy reach of Soho, Farringdon, Fitzrovia and the City. The Midtown area has a diversified economy with a range of high-value sectors such as financial and professional services, technology, and creative industries, adding to the potential of this significant development opportunity.
Jamie Lamond, Director, Restructuring Solutions at Avison Young, said:
“Carlisle House presents an excellent opportunity to redevelop an attractive Grade-II listed building, restoring the property to its original hotel use and substantially extending over the Crossrail headhouse to the rear. There is further asset management scope and potential for a range of alternative schemes, such as serviced apartments, residential or office uses, subject to obtaining the relevant consents.”
James Williamson, Director, Hotels at Avison Young, said:
“Given the continued recovery in London hotel trading performance, with further activity expected once international travel resumes without restrictions, we are anticipating strong interest in the property.”
Offers are invited for the Long Leasehold interests or alternatively, the issued Share Capital of the SPV can be offered for sale.