Langham Estate
The Langham Estate's offices are located on Margaret Street, London W1 | |
Company type | Private limited company by shares |
---|---|
Industry | Real estate management |
Founded | 9 December 1993 |
Headquarters | London , UK |
Area served | 11.3 acres |
Key people | Ahsan Ellahi |
Owner | Samuel Tak Lee |
Parent | Mount Eden Land Limited (Guernsey) |
Website | www |
The Langham Estate is a property estate in Fitzrovia, London, and is owned by the Mount Eden Land Limited (Guernsey). The company controls 11.3 acres of real estate in central London. A third of its property portfolio was sold in 2024.
Background
[edit]![](http://upload.wikimedia.org/wikipedia/commons/thumb/c/c4/Great_Portland_Street_and_Mortimer_Street.jpg/220px-Great_Portland_Street_and_Mortimer_Street.jpg)
The Langham Estate originates from an entity first established in 1925 to manage a holding of 40 acres of land purchased from the Howard de Walden Estate in central London.[1][2][3] The properties, acquired for £3m and located in eastern Marylebone,[1][4] then passed through various owners, including Sir John Ellerman's Audley Trust, before being acquired in 1994 by Guernsey-based Mount Eden Land Ltd for £51m.[1][5][6][7] Under Sir John Ellerman, the holdings covered almost all Great Portland Street, and much of streets alongside it (including Hallam, Bolsover, Margaret and Great Titchfield Streets).[1][8][9] Numerous holdings on Great Portland Street were divested over the years.
The Langham Estate operates in an area noted for its media connections, restaurants, design showrooms and art galleries.[10] The Langham Estate was described in 2017 as being one of London's 16 Great Estates.[11][12] Many of the entity's original properties are still held—but now in the form of freehold as their long leases have been sold off.[1]
Samuel Tak Lee of Hong Kong is said to be its owner.[5][13][14] Mr Lee reportedly sought control of Shaftesbury PLC's neighbouring 15-acre estate until his interests in it were sold in June 2020.[15][16][17]
Recent developments
[edit]![](http://upload.wikimedia.org/wikipedia/commons/thumb/5/5d/Great_Portland_Street_Shops_2018.jpg/220px-Great_Portland_Street_Shops_2018.jpg)
The Fitzrovia real estate market has been undergoing a renewal.[18] The area has witnessed significant increase in rents and rates along with markedly higher occupant turnovers.[19][20] Property values have increased in part due to changes in planning constraints,[21][22] along with the impact of the Cross Rail and Oxford Street projects, which were projected to increase commercial activity in the area.[23][24][25]
The company markets some of its properties under the banners of Noho and/or FitzNovia to describe an area just north of Oxford Street and just west of Regent Street.[26][27] The company website states the company holds a "1.3 million sq feet (29 acre) mixed portfolio of office, showroom, retail, restaurant, bar, residential and storage" properties.[28][5]
A neighbourhood plan is being developed for Langham Estate's Fitzrovia area. This is being done in consultation with stakeholders, the Langham Estate and other local landlords, businesses and residents.[29][30] The plan focused on improving the local amenity, affordable housing provision, poor broadband data services and air pollution conditions.[31][32][33]
In August 2023, Langham Estate decided to divest itself of a third of its property holdings.[34] These include 27 freehold assets of offices, retail, leisure, educational, medical and residential properties in northern Fitzrovia.[35] These properties were reportedly sold for £350m in January 2024.[36]
Gallery
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Many Langham Estate holdings are found at the southern end of Great Portland Street
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Numerous buildings on Great Titchfield Street and Margaret Street are part of the Langham Estate
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Langham Estate historic holding on Great Portland Street
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Langham Estate properties on Hallam Street
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Bolsover Street is the location of a number of Langham Estate properties
References
[edit]- ^ a b c d e Philip Temple and Colin Thom (2017). "South-East Marylebone: Draft of Volumes 51 and 52" (PDF). Survey of London: South-East Marylebone Volumes 51 and 52. Yale University Press. ISBN 9780300221978.
- ^ "Offices To Let, West End, Offices to Rent, Langham Estate, London". Langham Estate. Archived from the original on 15 August 2018. Retrieved 17 October 2018.
- ^ The Howard de Walden Estate is said to have sold 40 acres in East Marylebone in anticipation of high death duty obligations.
- ^ The 1925 land acquisition price of £3m is roughly equivalent to £177m in 2018. Source: http://www.in2013dollars.com/1925-GBP-in-2018?amount=3000000 (“Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 26 Oct. 2018, https://www.officialdata.org/.)
- ^ a b c "Who owns central London?". Who owns England?. 28 October 2017. Archived from the original on 17 June 2018. Retrieved 15 October 2018.
- ^ "History of The Langham Estate". Langham Estate. Retrieved 15 October 2018.
- ^ HEATHER CONNON (13 December 1993). "Prime portfolio of London property fetches just pounds 51m: Li family buys Langham Estate from Grovewood receivers". The Independent. Retrieved 16 October 2018.
- ^ "The secretive billionaire". 20 August 2009. Archived from the original on 24 March 2016. Retrieved 16 October 2018.
- ^ Jenkins, Simon (2012). Landlords to London: The Story of a Capital and Its Growth. Faber & Faber. p. 202. ISBN 978-0-571-29476-3.
- ^ "About Fitzrovia London". Fitzrovia Neighbourhood Association. 2 April 2012. Archived from the original on 4 July 2018. Retrieved 17 October 2018.
- ^ Fraser, Isabelle (28 October 2017). "How a handful of historic firms still own swathes of central London". The Telegraph. ISSN 0307-1235. Archived from the original on 21 January 2018. Retrieved 15 October 2018.
- ^ Kevin Cahill (2002). Who Owns Britain. Canongate Books Ltd. ISBN 9781841953106.
- ^ "Revealed Samuel Tak Lee: the secretive tycoon who controls a huge swathe of the West End". Evening Standard. 13 June 2003. p. 19. Archived from the original on 14 July 2017.
- ^ Shah, Oliver (16 November 2014). "Hong Kong tycoon sets sights on Chinatown". The Sunday Times. ISSN 0956-1382. Retrieved 15 October 2018.
- ^ "Lee Family Investors" Tender Offer – Shaftesbury PLC – Company Announcement - FT.com". markets.ft.com. Retrieved 10 December 2018.
- ^ "Time for 'Man of Mystery' Shaftesbury shareholder to put up or shut up". Evening Standard. 29 January 2019. Retrieved 24 April 2019.
- ^ "Samuel Tak Lee Sells Stake in Shaftesbury for £436M". Mingtiandi. 2 June 2020. Retrieved 11 June 2020.
- ^ Nathan Brooker (29 May 2015). "Is London's Fitzrovia ready for the big prime?". Financial Times. Archived from the original on 22 June 2018. Retrieved 15 October 2018.
- ^ Ramsorrun, Helen. "How Fitzrovia Became a Key Area for Commercial Property Investment". Pearl & Coutts. Retrieved 15 October 2018.
- ^ "Villandry goes into administration amid reports of £1.5m losses". www.thedrinksbusiness.com. Archived from the original on 10 August 2018. Retrieved 25 October 2018.
- ^ "Special Policy Areas and Policies Map Revision – Publication Draft (Regulation 19) Revision to Westminster's City Plan: Strategic Policies" (PDF). City of Westminster. November 2015.
- ^ "Supporting Information Publication Draft (Regulation 19) Special Policy Areas and Policies Map Revision" (PDF). City of Westminster. November 2015.
- ^ "JLL | Residential Research | Crossrail Opportunities 2016". residential.jll.co.uk. Archived from the original on 21 October 2017. Retrieved 17 October 2018.
- ^ Savills.com (18 April 2018). "Infrastructure Investment and Land Value Uplift". Retrieved 17 October 2018.
- ^ "A FUTURE FOR THE OXFORD STREET DISTRICT". www.oxfordstreetdistrict.com. Archived from the original on 23 March 2018. Retrieved 25 October 2018.
- ^ "MyNoHo – The Langham Estate Blog". MyNoHo. Archived from the original on 2 September 2018. Retrieved 15 October 2018.
- ^ "FitzNovia Twitter Feed". twitter.com. Retrieved 15 October 2018.
- ^ "Commercial lettings : Serviced Office Space for Rent : London West End". Langham Estate. Archived from the original on 6 September 2018. Retrieved 15 October 2018.
- ^ "Draft Plan | FitzWest". fitzwest.org. Archived from the original on 2 September 2018. Retrieved 15 October 2018.
- ^ www.FITZWEST.ORG/wordpress. "FitzWest Plan -- Fitzrovia West Neighbourhood Forum" (PDF).
- ^ "FitzWest Plan: Fitzrovia West Neighbourhood Forum" (PDF). fitzwest.org. Retrieved 1 January 2019.
- ^ "Better Oxford Street Campaign - Pedestrianising Oxford Street is not the answer". Better Oxford Street Campaign. Retrieved 1 January 2019.
- ^ "Broadband in Fitzrovia | FitzWest". Retrieved 1 January 2019.
- ^ Norman, Paul (17 August 2023). "Langham Estate Puts £500 Million Slice of Fitzrovia on Market". CoStar. Retrieved 14 November 2023.
- ^ "£500M West End Sale Process Is Largest Launched In London This Year". Bisnow. Retrieved 14 November 2023.
- ^ "Weekly data sheet: Opportunistic buyers win £300 mln chunk of London's West End". PropertyEU News. Retrieved 18 January 2024.
External links
[edit]![](http://upload.wikimedia.org/wikipedia/en/thumb/4/4a/Commons-logo.svg/30px-Commons-logo.svg.png)
- The Langham Estate website
- Map of Langham Estate (Mount Eden Land Guernsey Ltd)
- MyNoHo – The Langham Estate Blog
- Langham Estate International
- Fitzrovia – Langham Estate area description
- FitzWest Neighbourhood Forum for West Fitzrovia & Fitzrovia Neighbourhood Association
- Survey of London South East Marylebone (Fitzrovia) – Langham Estate area history