Firethorn has instructed JLL to bring to market One Bessborough Gardens, a highly prominent freehold building in SW1.
The landmark building, which is rumoured to have previously been used as a training facility by MI5, occupies a prominent position at the northern approach to Vauxhall Bridge, moments from the River Thames, Westminster and Victoria.
Despite its heritage appearance, the building was completed in 1988 and officially opened by His Majesty King Charles III, then The Prince of Wales. The vacant building has now been stripped back internally to its concrete frame, ready for redevelopment and repositioning.
The building could suit a range of uses, including luxury residential, hotel, hostel, co-living, embassy, museum or gallery use, subject to the necessary consents.
A number of planning consents are already in place, including prior approval for conversion to 52 residential apartments under permitted development rights.
There is also scope for further planning enhancement through additional massing, with the building already benefitting from consent for an office extension.
Depending on scheme option the GDV is in the order of £80-100m.
Marcus Weeks, Director and Head of Firethorn Living said:
“Having secured the key consents, we are now bringing this iconic asset to market in line with our business plan.”
Sonny Dawes, Head of London Development Opportunities at JLL, said:
“One Bessborough Gardens is one of the most distinctive redevelopment opportunities to come forward in central London this year. It combines a rare freehold position in SW1, an existing residential consent, flexible alternative-use potential and a fascinating former institutional history.
“With the building already stripped back to frame, it is ready for a purchaser to reposition the asset for its next chapter, whether that is residential, hospitality, co-living or an institutional use.”
The building has now been launched to market and no formal guide price has been confirmed.
