Quirky Brick Street project goes up for auction

Unusual Mayfair development site guided at nearly £6m

A tasty little project in Mayfair is due to go under the hammer next week.

It may look tight, but this low-riser on Brick Street, right in the mixer between Old Park Lane and Down Street, has planning for a couple of chunky apartments with a total GIA of over 4,300 square feet.

Developments don’t come much more boutique than this. Arranged across ground and lower ground floor levels only, the quirky set-up was employed as an office and retail unit until fairly recently, with Westminster giving the go-ahead for a resi switcheroo in 2015.

The guide has been set at £5.85m and you can check out the existing plans with the reference 14/1061/Ful.

The proposition is one of a fleet of higher-than-average value lots going under the hammer at Allsop’s next resi property auction on the 25th.

39 of the 292 lots come with a guide price of £1m or more, including £11.5m for a 155-unit development site near Slough’s Crossrail route and £2.5m for a six-bed townhouse in West Hampstead.

May sale highlights:

  • Lot 46, 87 Goldhurst Terrace, West Hampstead, NW6 3HA – a modernised freehold mid-terrace four-storey house in a prime London location, featuring six bedrooms, four bathrooms, a rear garden and a first-floor roof terrace. Guide £2.5m+
  • Lot 100, 83 Witham House, 13 Enterprise Way, Wandsworth, SW18 1GB – a long leasehold, two-bed duplex penthouse apartment, situated on the 19th and 20th floors of a purpose-built block, with panoramic views over The Thames. The property benefits from three terraces, a lift, gym, 24/7 security and concierge, and underground parking. Guide £2.25m+
  • Lots 120121122 & 123, 22, 23, 24 & 25 Edward’s Cottages, Islington, N1 2XL – four modern, new-build, three-bed freehold townhouses. Part of Canonbury Cross, a new development located near to Highbury and Islington Station, each property benefits from a private courtyard garden and top-level terrace. Guide £1.42m+ – £1.47m+
  • Lot 42, The Brick Works, Petersfield Avenue, Berkshire, SL2 5DN – a freehold site near to a Crossrail station due for completion in 2019. Currently occupied by two modern office buildings, the site has planning for 155 self-contained apartments providing 104,594 sq. ft. of residential accommodation. Guide £11.5m+
  • Lot 60, 12-12A Brick Street, Mayfair, W1J 7ET – long leasehold former offices and retail unit with planning permission for conversion to provide one three-bed and one two-bed self-contained flat. Guide £5.85m+
  • Lot 63, Parham House, 404-430 High Street, West Midlands, B70 9JR – a freehold detached five-storey commercial building arranged to provide three retail units and five floors of office accommodation, with Permitted Development for change of use to provide 47 dwellings, and possible potential for further redevelopment of the roof. Guide £1m+

Richard Adamson, Partner at Allsop: “The quality of stock is a standout feature of this auction. The catalogue is ripe with investment and development opportunities, especially within London where an abundance of good-value properties in strong postcodes will be going under the hammer.”

Goldhurst Terrace
Enterprise Way penthouse

Allsop’s May residential auction takes place on 25th May at The Cumberland Hotel on Great Cumberland Place, London, W1H 7DL. View the catalogue here