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November 2011: Royal Bayswater Hotel, London, W2

real estate in London

Acting on behalf of the owners, Mr Poulengeris negotiated the sale of this property, with the benefit of the planning consent (as above) for a price of £23.5 million, an increase of £15.2 million over a period of approx. 6 ½ years.

Throughout this period, the entire property was let to a Hotel group producing an income of £480,000.00 approx. 5.5% on the purchase price. Mr Poulengeris had arranged for this letting.

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October 2011: North Wharf Gardens, London, W2

property developments in central London

Land approx. 3.6 acres (15,000m²) with planning consent for a mixed use development (mainly residential) approx. 710,000 sq ft.

Mr Poulengeris advised the purchasers throughout and conducted all negotiations on their behalf starting with the submission of a closed bid in March 2011 and until contracts were eventually exchanged in October 2011 completion took place on 27th July 2012.

The purchasers have appointed a team of consultants, including Hyde Park Agencies, to advise, prepare and submit a new planning application and is envisaged that the area would be increased from 710,000 sq ft to 900,000 sq ft.

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December 2006: Bonhams Sales Rooms, London, W2

house for sale w2

The Auction Rooms of Bonhams (approx. 20,000 sq ft) located in the heart of Bayswater. The property was bought for redevelopment.

Acting on behalf of the purchasers, Mr Poulengeris successfully negotiated with the vendor’s agents the purchase of this property for price of £7,500,000. Planning Permission has been granted for part demolition and replace with a residential development of 15 flats 19 parking spaces and office space approx. 12,000 sq ft. Construction has started and the flats are 70% presold.

Total GDV estimated in excess of £37 million.

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May 2005: Royal Bayswater Hotel, London, W2

bayswater estate agencies

5 period buildings on Lower Ground, Ground and four upper floors as a 2 star Hotel with two restaurants and one retail shop on the Ground floor, night club and restaurant on the Lower Ground floor. These properties are located on Bayswater road, close to Queensway, with superb views across Hyde Park.

Acting on behalf of the vendor Mr Poulengeris negotiated the sale of this property, which they had purchased 4 years earlier (see above) for the price £8,300,000.00. During 2006 and 2007, the owners received several offers to sell this property (two offers through Hyde Park Agencies), the highest offer being £16.5 million.

All offers to sell were refused by the owners who successfully applied for planning permission to demolish and built a mixed development of 22 Residential flats, retail shops and restaurant.

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July 2004: Chancellors House, Chancellors Road, London, W6

Modern office building 2804 m2 (30 176 sq ft), with 12 parking spaces in the basement, plus further parking in the courtyard. The building is located in Hammersmith, on the River Thames and enjoys panoramic views over the River.

There was a Tenants’ Option to determine on 20th November 2009 by giving not less than 6 months notice to the landlord. The Purchaser was able to negotiate with the tenants to remove this clause prior to the exchange of contracts.

The property was resold approximately 2 months after completion of the purchase for a price in excess of £15.5 million pounds.

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June 2004: Audley Square and Farm Street, Mayfair, W1

Audley-Square-5-001-1
  1. 5 Audley Square (Car Park): 317 spaces with planning permission to demolish and build a 90 unit Apartment Hotel with 207 underground parking spaces next the 5 Star Dorchester Hotel, overlooking Hyde Park in Prestigious Mayfair in London.
  2. 21-23 Farm Street: Council Cleaning Depot with planning permission to demolish and build a block of flats, 14 units, (6×3 bedrooms/ 2 bathrooms and 8×2 bedrooms/2 bathrooms) plus underground parking for 14 cars close to Berkeley Square in London.

Acting on behalf of the purchasers Mr Poulengeris conducted all negotiations with the City of Westminster, Estate department, their solicitors and their agents. Once purchased Mr Poulengeris introduced a tenant for the car park and petrol station, paying rent, in total, of £522, 000.00 p.a. The properties were resold approx.18 months from the purchase date for a price in excess of £55 million pounds.

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August 2001: Royal Bayswater Hotel, London W2

letting agents bayswater

5 period buildings on Lower Ground, Ground and four upper floors as a 2 star Hotel with two restaurants and one retail shop on the Ground floor, night club and restaurant on the Lower Ground floor. These properties are located on Bayswater road, close to Queensway, with superb views across Hyde Park.

Acting on behalf of the vendors Mr Poulengeris negotiated the sale of the above properties for the price of £6,600,000.00. The sale was completed on 24/05/01. The hotel and shops were let producing an income of £480,000.00 per annum.

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March 2001: N.C.P Car Park, Wardour Street, London, W1 (now the Soho Hotel)

bayswater house prices

Acting on behalf of Consolidated Hotels Ltd, Mr Poulengeris negotiated the purchase of the above property for a price of £ 13,000,000.00 (thirteen million pounds). Prior to the exchange of contracts a pre-let agreement was negotiated, subject to planning permission.

Mr Poulengeris advised, and worked closely with the Architects of Firmdale, regarding the Planning Consent which took approximately 14 months to be issued (85 bedrooms plus 6 apartments). Construction started soon afterwards and the Hotel was finished and in full operation in August 2004.

soho-hotel