13–14 Buckingham Gate is a six-storey (including basement) Grade II Listed building currently used as an office. Its Grade II status stems from the heritage of the street. Buckingham Gate’s vicinity to significant places of interest such as Buckingham Palace, Birdcage Walk Conservation Area and St James’s Park underscores the significance of the location. The building’s six front windows retain their Georgian facade from the 1800s.
Previously 13–14 Buckingham Gate was made up of separate townhouses dating back to 1756. It underwent a significant remodeling in the early 1970s when permission for demolition of the building behind the front elevation was granted. This intervention introduced a cast in-situ reinforced concrete-framed structure to which the significant front elevation is tied.
In recent years there has been an increase in redevelopment works to convert Buckingham Gate from a commercial workplace to a prime residential estate.
The picture below indicates the Grade II listed buildings along Buckingham Gate.
Gross Buildable Area (Sq ft) — 15,107
Net Sellable Area (NSA) (Sq ft) — 12,349
Efficiency — 82%
Building Purchase Price1 — £17,944,868
Hard Costs — £6,431,917
Soft Costs — £2,970,331
Financing — £1,336,059
Total Cost — £28,683,176
Debt Finance (65%) — £19,183,176
Equity Investment (35%) — £9,500,000
Sponsor (10% Equity) — £950,000
Investors (90% Equity) — £8,550,000
Sales from Apartment Units — £34,577,200
Gross Revenue (incl. rents/interest) — £34,696,650
Project Profit — £6,013,474
Sponsor Promote (20%) — £1,202,695
Equity Investment Profit — £4,810,779
Investor ROE — 51%
Investor Equity IRR — 21%
The three Royal Parks on Buckingham Gates doorstep, St James's Park, Green Park and Hyde Park, are unique, protected open spaces which enhance the value of the surrounding property.