Office FOR RENT in 15-17 Heddon St, Mayfair, Greater London

Property Description

15-17 Heddon St, Mayfair Submarket, London W1B 4AZ – Office Space for Lease
A prime office space located in the prestigious Mayfair submarket, occupying a 5-floor masonry building with 2-star office specification. This property offers 3,604 sq ft of net internal area (NIA), with a mix of office and retail uses. The office space available is 729 sq ft, suitable for small or medium-sized businesses looking for an iconic location in one of London's most sought-after areas.
Key Property Features:
Location: Mayfair Submarket, London W1B 4AZ
Building Type: Office, 2-star office specification
Total Area (NIA): 3,604 sq ft
Available Space: 729 sq ft (with maximum contiguous space of 729 sq ft)
Land Size: 0.36 acres (15,682 sq ft of land)
Construction Year: 1786
Floors: 5
Typical Floor Size: 1,103 sq ft
Building FAR: 0.23 (Floor Area Ratio)
Office Space: 2,523 sq ft (70% of the total building)
Retail Space: 1,081 sq ft (30% of the total building)
Tenancy: Multi-tenant, 100% leased
Rent: £76 - £93 per sq ft (estimated office rent)
Available Office Space:
Floor: 2nd floor
Size: 729 sq ft
Use: Office
Rent: £150 per sq ft
Lease Type: FRI (Full Repairing and Insuring Lease)
Lease Availability: February 2025
Market Conditions:
Vacancy Rate: 0.0% (down 36.4% YoY)
Submarket Vacancy Rate (1-3 Star): 4.7%, down by 0.8% YoY
Overall Market Vacancy Rate: 10.6%, with no change YoY
Market Asking Rent Per Area (Subject Property): £86.80/sq ft, up by 0.9% YoY
Submarket 1-3 Star Rent: £86.65/sq ft, up by 2.5% YoY
Overall Market Rent: £57.19/sq ft, up by 1.7% YoY
Leasing Activity (12 months):
Leased Area: 630,020 sq ft (down 12.1% YoY)
Average Months on Market: 11.1 months (down 0.5 months YoY)
Market Sales Activity:
12-Month Sales Volume: £462.45M (down from £907.97M YoY)
Market Sale Price Per Area: £1,404/sq ft (up from £1,352/sq ft YoY)
For further details or to arrange a viewing, please contact FraserBond.