Film House | Soho | 27m | 7 fl | Approved

Sir Richard Sutton Ltd has instructed Knight Frank to sell Nike’s current London headquarters in Soho for £97m.

A new long leasehold interest for 129 years at a £1 per annum head rent is being offered, the first time a new ownership interest has been created over the whole site since 1929.

The building - Film House on Wardour Street - comprises 98,690 sq ft of office space across three adjoining buildings and has planning consent for a 176-bed ‘lifestyle’ hotel, roof top restaurant and bar. There is also the potential to refurbish or redevelop the building into modern office and retail space.

An Indicative office refurbishment or redevelopment scheme has been produced by Robin Partington Partners architects, demonstrating the potential for a refurbished building of 95,121 sq ft, or new build of 110,868 sq ft with 8,676 sq ft of terraces.

Vacant possession is planned for September 2020, when Nike will relocate to its new headquarters in King’s Cross.

The vendor is prepared to top up the rent to £4m per annum until September 2020. Alternatively the building is being offered without vendor top-ups for £90m. Columbia Threadneedle owns the headlease.

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