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{{Short description|Property company of the United Kingdom}}
{{Use dmy dates|date=April 2022}}
{{Infobox company
{{Infobox company
| name = Langham Estate
| name = Langham Estate
| logo =
| logo =
| image = Great Titchfield Street and Margaret Street, London.JPG
| image = Great Titchfield Street and Margaret Street, London.JPG
| image_caption = The Langham Estate's offices are located on Margaret Street, London W1
| image_caption = The Langham Estate's offices are located on [[Margaret Street, London]] W1
| type = Private limited company by shares
| type = Private limited company by shares
| industry = [[Real estate management]]
| industry = [[Real estate management]]
Line 24: Line 26:
}}
}}


'''The Langham Estate''' is a property estate in [[Fitzrovia]], London, and is owned by the Mount Eden Land Limited (Guernsey). The company controls 14 acres of real estate in central [[London]].
The '''Langham Estate''' is a property estate in [[Fitzrovia]], London, and is owned by the Mount Eden Land Limited ([[Guernsey]]). The company controls 14 acres of real estate in central [[London]]. A third of its property portfolio was sold in 2024.


== Background ==
==Background==
[[File:Great Portland Street and Mortimer Street.jpg|left|thumb|Great Portland Street as seen in the early 1900s]]
[[File:Great Portland Street and Mortimer Street.jpg|left|thumb|Great Portland Street as seen in the early 1900s]]
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.<ref name=":0">{{Cite news|url=https://www.ucl.ac.uk/bartlett/architecture/sites/bartlett/files/introduction.pdf|title=South-East Marylebone: Draft of Volumes 51 and 52|last=Philip Temple and Colin Thom|first=|date=2017|work=Survey of London: South-East Marylebone Volumes 51 and 52|access-date=|publisher=Yale University Press|isbn=9780300221978}}</ref><ref>{{Cite web|url=https://www.langhamestate.com|title=Offices To Let, West End, Offices to Rent, Langham Estate, London|website=Langham Estate|language=en-GB|access-date=2018-10-17|archive-url=https://web.archive.org/web/20180815031509/http://www.langhamestate.com/|archive-date=2018-08-15|dead-url=no|df=}}</ref><ref>The Howard de Walden Estate is said to have sold 40 acres in East Marylebone in anticipation of high death duty obligations.</ref> The properties, acquired for £3m and located in eastern [[Marylebone]],<ref name=":0" /><ref>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/.)</ref> then passed through various owners, including [[Sir John Ellerman, 1st Baronet|Sir John Ellerman]]'s Audley Trust, before being acquired in 1994 by Guernsey-based Mount Eden Land Ltd for £51m.<ref name=":0" /><ref name=":1">{{Cite news|url=https://whoownsengland.org/2017/10/28/who-owns-central-london/|title=Who owns central London?|date=2017-10-28|work=Who owns England?|access-date=2018-10-15|language=en-US|archive-url=https://web.archive.org/web/20180617134237/https://whoownsengland.org/2017/10/28/who-owns-central-london/|archive-date=2018-06-17|dead-url=no|df=}}</ref><ref>{{Cite news|url=https://www.langhamestate.com/the-estate/past/|title=History of The Langham Estate|work=Langham Estate|access-date=2018-10-15|language=en-GB}}</ref><ref>{{Cite news|url=https://www.independent.co.uk/news/business/prime-portfolio-of-london-property-fetches-just-pounds-51m-li-family-buys-langham-estate-from-1467212.html|title=Prime portfolio of London property fetches just pounds 51m: Li family buys Langham Estate from Grovewood receivers|last=HEATHER CONNON|first=|date=13 December 1993|work=The Independent|access-date=2018-10-16|language=en-GB}}</ref> Under Sir John Ellerman, the holdings covered almost all [[Great Portland Street]], and much of streets alongside it (including [[Hallam Street|Hallam]], [[Bolsover Street|Bolsover]], Margaret and [[Great Titchfield Street|Great Titchfield]] Streets).<ref name=":0" /><ref>{{Cite news|url=http://news.bbc.co.uk/local/humberside/hi/people_and_places/history/newsid_8207000/8207903.stm|title=The secretive billionaire|date=2009-08-20|access-date=2018-10-16|language=en-GB|archive-url=https://web.archive.org/web/20160324003543/http://news.bbc.co.uk/local/humberside/hi/people_and_places/history/newsid_8207000/8207903.stm|archive-date=2016-03-24|dead-url=no|df=}}</ref><ref>{{Cite book|url=https://books.google.com/books?id=UWR4w9apCHoC&pg=PT202|title=Landlords to London: The Story of a Capital and Its Growth|last=Jenkins|first=Simon|date=2012|publisher=Faber & Faber|isbn=978-0-571-29476-3|page=202}}</ref> Numerous holdings on Great Portland Street were divested over the years.
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.<ref name=":0">{{Cite news|url=https://www.ucl.ac.uk/bartlett/architecture/sites/bartlett/files/introduction.pdf|title=South-East Marylebone: Draft of Volumes 51 and 52|last=Philip Temple and Colin Thom|date=2017|work=Survey of London: South-East Marylebone Volumes 51 and 52|publisher=Yale University Press|isbn=9780300221978}}</ref><ref>{{Cite web|url=https://www.langhamestate.com|title=Offices To Let, West End, Offices to Rent, Langham Estate, London|website=Langham Estate|language=en-GB|access-date=2018-10-17|archive-url=https://web.archive.org/web/20180815031509/http://www.langhamestate.com/|archive-date=2018-08-15|url-status=live}}</ref><ref>The Howard de Walden Estate is said to have sold 40 acres in East Marylebone in anticipation of high death duty obligations.</ref> The properties, acquired for £3m and located in eastern [[Marylebone]],<ref name=":0" /><ref>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/.)</ref> then passed through various owners, including [[Sir John Ellerman, 1st Baronet|Sir John Ellerman]]'s Audley Trust, before being acquired in 1994 by Guernsey-based Mount Eden Land Ltd for £51m.<ref name=":0" /><ref name=":1">{{Cite news|url=https://whoownsengland.org/2017/10/28/who-owns-central-london/|title=Who owns central London?|date=2017-10-28|work=Who owns England?|access-date=2018-10-15|language=en-US|archive-url=https://web.archive.org/web/20180617134237/https://whoownsengland.org/2017/10/28/who-owns-central-london/|archive-date=2018-06-17|url-status=live}}</ref><ref>{{Cite news|url=https://www.langhamestate.com/the-estate/past/|title=History of The Langham Estate|work=Langham Estate|access-date=2018-10-15|language=en-GB}}</ref><ref>{{Cite news|url=https://www.independent.co.uk/news/business/prime-portfolio-of-london-property-fetches-just-pounds-51m-li-family-buys-langham-estate-from-1467212.html|title=Prime portfolio of London property fetches just pounds 51m: Li family buys Langham Estate from Grovewood receivers|last=HEATHER CONNON|date=13 December 1993|work=The Independent|access-date=2018-10-16|language=en-GB}}</ref> Under Sir John Ellerman, the holdings covered almost all [[Great Portland Street]], and much of streets alongside it (including [[Hallam Street|Hallam]], [[Bolsover Street|Bolsover]], Margaret and [[Great Titchfield Street|Great Titchfield]] Streets).<ref name=":0" /><ref>{{Cite news|url=http://news.bbc.co.uk/local/humberside/hi/people_and_places/history/newsid_8207000/8207903.stm|title=The secretive billionaire|date=2009-08-20|access-date=2018-10-16|language=en-GB|archive-url=https://web.archive.org/web/20160324003543/http://news.bbc.co.uk/local/humberside/hi/people_and_places/history/newsid_8207000/8207903.stm|archive-date=2016-03-24|url-status=live}}</ref><ref>{{Cite book|url=https://books.google.com/books?id=UWR4w9apCHoC&pg=PT202|title=Landlords to London: The Story of a Capital and Its Growth|last=Jenkins|first=Simon|date=2012|publisher=Faber & Faber|isbn=978-0-571-29476-3|page=202}}</ref> 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.<ref>{{Cite news|url=https://fitzrovia.org.uk/about/fitzrovia/|title=About Fitzrovia London|date=2012-04-02|work=Fitzrovia Neighbourhood Association|access-date=2018-10-17|language=en-US|archive-url=https://web.archive.org/web/20180704010643/https://fitzrovia.org.uk/about/fitzrovia/|archive-date=2018-07-04|dead-url=no|df=}}</ref> The Langham Estate was described in 2017 as being one of London's ''16 Great Estates'' with its footprint of 13.8 acres of central London property.<ref>{{Cite news|url=https://www.telegraph.co.uk/business/2017/10/28/billionaires-playground-handful-families-central-london/|title=How a handful of historic firms still own swathes of central London|last=Fraser|first=Isabelle|date=2017-10-28|work=The Telegraph|access-date=2018-10-15|language=en-GB|issn=0307-1235|archive-url=https://web.archive.org/web/20180121010958/http://www.telegraph.co.uk/business/2017/10/28/billionaires-playground-handful-families-central-london/|archive-date=2018-01-21|dead-url=no|df=}}</ref><ref>{{Cite book|title=Who Owns Britain|last=Kevin Cahill|publisher=Canongate Books Ltd|year=2002|isbn=9781841953106|location=|pages=}}</ref> Many of the entity's original properties are still held—but now in the form of [[Freehold (law)|freehold]] as their long leases have been sold off.<ref name=":0" />
The Langham Estate operates in an area noted for its media connections, restaurants, design showrooms and art galleries.<ref>{{Cite news|url=https://fitzrovia.org.uk/about/fitzrovia/|title=About Fitzrovia London|date=2012-04-02|work=Fitzrovia Neighbourhood Association|access-date=2018-10-17|language=en-US|archive-url=https://web.archive.org/web/20180704010643/https://fitzrovia.org.uk/about/fitzrovia/|archive-date=2018-07-04|url-status=live}}</ref> The Langham Estate was described in 2017 as being one of London's ''16 Great Estates'' with its footprint of 13.8 acres of central London property.<ref>{{Cite news|url=https://www.telegraph.co.uk/business/2017/10/28/billionaires-playground-handful-families-central-london/|title=How a handful of historic firms still own swathes of central London|last=Fraser|first=Isabelle|date=2017-10-28|work=The Telegraph|access-date=2018-10-15|language=en-GB|issn=0307-1235|archive-url=https://web.archive.org/web/20180121010958/http://www.telegraph.co.uk/business/2017/10/28/billionaires-playground-handful-families-central-london/|archive-date=2018-01-21|url-status=live}}</ref><ref>{{Cite book|title=Who Owns Britain|last=Kevin Cahill|publisher=Canongate Books Ltd|year=2002|isbn=9781841953106}}</ref> Many of the entity's original properties are still held—but now in the form of [[Freehold (law)|freehold]] as their long leases have been sold off.<ref name=":0" />


[[Sammy Tak Lee|Samuel Tak Lee]] of Hong Kong is said to be its owner.<ref name=":1" /><ref>{{Cite web|url=https://www.ft.com/content/ff177988-44be-326b-8c0d-4514ee5b6d5e|title=Shaftesbury profits jump, supported by robust West End shopping|last=Judith Evans|date=May 23, 2017|website=Financial Times|language=en-GB|archive-url=|archive-date=|dead-url=|access-date=}}</ref><ref>{{Cite news|url=https://www.britishnewspaperarchive.co.uk/titles/london-evening-standard|title=Revealed Samuel Tak Lee: the secretive tycoon who controls a huge swathe of the West End|last=|first=|date=13 June 2003|work=Evening Standard|access-date=|page=19|archive-url=https://web.archive.org/web/20170714013651/https://www.britishnewspaperarchive.co.uk/titles/london-evening-standard|archive-date=2017-07-14|dead-url=no|df=}}</ref><ref>{{Cite news|url=https://www.thetimes.co.uk/article/hong-kong-tycoon-sets-sights-on-chinatown-f8psg9tdq88|title=Hong Kong tycoon sets sights on Chinatown|last=Shah|first=Oliver|date=2014-11-16|work=The Sunday Times|access-date=2018-10-15|language=en|issn=0956-1382}}</ref> Mr Lee has long sought control of [[Shaftesbury plc|Shaftesbury PLC']]<nowiki/>s neighbouring 15 acre estate.<ref>{{Cite web|url=https://www.egi.co.uk/news/tak-lee-boosts-shaftesbury-stake/|title=Tak Lee boosts Shaftesbury stake|website=EGi|language=en-US|access-date=2018-12-10}}</ref><ref>{{Cite web|url=https://markets.ft.com/data/announce/full?dockey=1323-12423458-1JMSLQPC4EI5PJI1GCGK9G89JI|title=Lee Family Investors" Tender Offer – Shaftesbury PLC – Company Announcement - FT.com|last=|first=|date=|website=markets.ft.com|archive-url=|archive-date=|dead-url=|access-date=2018-12-10}}</ref><ref>{{Cite web|url=https://www.investorschronicle.co.uk/share-tips/2017/07/20/shaftesbury-looking-brexit-proof/|title=Shaftesbury looking Brexit-proof|last=Crosland|first=Jonas|date=2017-07-20|website=www.investorschronicle.co.uk|language=en|access-date=2018-12-10}}</ref><ref>{{Cite web|url=https://www.standard.co.uk/business/jim-armitage-it-s-time-for-man-of-mystery-shaftesbury-shareholder-to-put-up-or-shut-up-a4051731.html|title=Time for ‘Man of Mystery’ Shaftesbury shareholder to put up or shut up|date=2019-01-29|website=Evening Standard|language=en|access-date=2019-04-24}}</ref>
[[Sammy Tak Lee|Samuel Tak Lee]] of Hong Kong is said to be its owner.<ref name=":1" /><ref>{{Cite news|url=https://www.britishnewspaperarchive.co.uk/titles/london-evening-standard|title=Revealed Samuel Tak Lee: the secretive tycoon who controls a huge swathe of the West End|date=13 June 2003|work=Evening Standard|page=19|archive-url=https://web.archive.org/web/20170714013651/https://www.britishnewspaperarchive.co.uk/titles/london-evening-standard|archive-date=2017-07-14|url-status=live}}</ref><ref>{{Cite news|url=https://www.thetimes.co.uk/article/hong-kong-tycoon-sets-sights-on-chinatown-f8psg9tdq88|title=Hong Kong tycoon sets sights on Chinatown|last=Shah|first=Oliver|date=2014-11-16|work=The Sunday Times|access-date=2018-10-15|language=en|issn=0956-1382}}</ref> Mr Lee reportedly sought control of [[Shaftesbury plc|Shaftesbury PLC's]] neighbouring 15-acre estate until his interests in it were sold in June 2020.<ref>{{Cite web|url=https://markets.ft.com/data/announce/full?dockey=1323-12423458-1JMSLQPC4EI5PJI1GCGK9G89JI|title=Lee Family Investors" Tender Offer – Shaftesbury PLC – Company Announcement - FT.com|website=markets.ft.com|access-date=2018-12-10}}</ref><ref>{{Cite web|url=https://www.standard.co.uk/business/jim-armitage-it-s-time-for-man-of-mystery-shaftesbury-shareholder-to-put-up-or-shut-up-a4051731.html|title=Time for 'Man of Mystery' Shaftesbury shareholder to put up or shut up|date=2019-01-29|website=Evening Standard|language=en|access-date=2019-04-24}}</ref><ref>{{Cite web|date=2020-06-02|title=Samuel Tak Lee Sells Stake in Shaftesbury for £436M|url=http://www.mingtiandi.com/real-estate/outbound-investment/samuel-tak-lee-sells-stake-in-shaftesbury-for-436m/|access-date=2020-06-11|website=Mingtiandi|language=en-US}}</ref>


⚫
==Recent developments==

⚫
== Recent Developments ==
[[File:Great Portland Street Shops 2018.jpg|left|thumb|Great Portland Street is long known for its shops and restaurants]]
[[File:Great Portland Street Shops 2018.jpg|left|thumb|Great Portland Street is long known for its shops and restaurants]]
The [[Fitzrovia]] real estate market, where Langham Estate's properties are located, has been undergoing a renewal.<ref>{{Cite web|url=https://www.ft.com/content/8cbdcc48-ff0b-11e4-84b2-00144feabdc0|title=Is London's Fitzrovia ready for the big prime?|last=Nathan Brooker|date=May 29, 2015|website=Financial Times|language=en-GB|archive-url=https://web.archive.org/web/20180622005639/https://www.ft.com/content/8cbdcc48-ff0b-11e4-84b2-00144feabdc0|archive-date=2018-06-22|dead-url=no|access-date=2018-10-15|df=}}</ref> The area has witnessed significant increases in [[renting|rents]] and [[Rates (tax)|rates]] along with markedly higher occupant turnovers.<ref>{{Cite news|url=https://www.pearl-coutts.co.uk/the-insider/commercial/how-fitzrovia-became-a-key-area-for-commercial-property-investment/|title=How Fitzrovia Became a Key Area for Commercial Property Investment|last=Ramsorrun|first=Helen|work=Pearl & Coutts|access-date=2018-10-15|language=en}}</ref><ref>{{Cite web|url=https://www.thedrinksbusiness.com/2018/08/villandry-goes-into-administration-amid-reports-of-1-5m-losses/|title=Villandry goes into administration amid reports of £1.5m losses|website=www.thedrinksbusiness.com|language=en-US|access-date=2018-10-25|archive-url=https://web.archive.org/web/20180810111101/https://www.thedrinksbusiness.com/2018/08/villandry-goes-into-administration-amid-reports-of-1-5m-losses/|archive-date=2018-08-10|dead-url=no|df=}}</ref> Property values have increased in part due to changes in [http://transact.westminster.gov.uk/docstores/publications_store/planning/special_policy_areas_and_policies_map_revision_to_westminsters_city_plan.pdf. planning] constraints,<ref>{{Cite web|url=http://transact.westminster.gov.uk/docstores/publications_store/planning/special_policy_areas_and_policies_map_revision_supporting_information.pdf|title=Supporting Information Publication Draft (Regulation 19) Special Policy Areas and Policies Map Revision|last=City of Westminster|first=|date=November 2015|website=|archive-url=|archive-date=|dead-url=|access-date=}}</ref> along with the impact of the [[Crossrail|Cross Rail]] and [[Oxford Street]] projects which are expected to increase commercial activity in the area.<ref>{{Cite web|url=http://residential.jll.co.uk/new-residential-thinking-home/research/crossrail-opportunities-2016.aspx|title=JLL {{!}} Residential Research {{!}} Crossrail Opportunities 2016|website=residential.jll.co.uk|language=en|access-date=2018-10-17|archive-url=https://web.archive.org/web/20171021045018/http://residential.jll.co.uk/new-residential-thinking-home/research/crossrail-opportunities-2016.aspx|archive-date=2017-10-21|dead-url=no|df=}}</ref><ref>{{Cite news|url=http://www.savills.com/_news/article/3359/240380-0/4/2018/infrastructure-investment-and-land-value-uplift|title=Infrastructure Investment and Land Value Uplift|last=Savills.com|first=|date=18 April 2018|work=|access-date=2018-10-17}}</ref><ref>{{Cite web|url=http://www.oxfordstreetdistrict.com/|title=A FUTURE FOR THE OXFORD STREET DISTRICT|website=www.oxfordstreetdistrict.com|access-date=2018-10-25|archive-url=https://web.archive.org/web/20180323183536/http://oxfordstreetdistrict.com/|archive-date=2018-03-23|dead-url=no|df=}}</ref>
The [[Fitzrovia]] real estate market has been undergoing a renewal.<ref>{{Cite web|url=https://www.ft.com/content/8cbdcc48-ff0b-11e4-84b2-00144feabdc0|title=Is London's Fitzrovia ready for the big prime?|last=Nathan Brooker|date=May 29, 2015|website=Financial Times|language=en-GB|archive-url=https://web.archive.org/web/20180622005639/https://www.ft.com/content/8cbdcc48-ff0b-11e4-84b2-00144feabdc0|archive-date=2018-06-22|url-status=live|access-date=2018-10-15}}</ref> The area has witnessed significant increase in [[renting|rents]] and [[Rates (tax)|rates]] along with markedly higher occupant turnovers.<ref>{{Cite news|url=https://www.pearl-coutts.co.uk/the-insider/commercial/how-fitzrovia-became-a-key-area-for-commercial-property-investment/|title=How Fitzrovia Became a Key Area for Commercial Property Investment|last=Ramsorrun|first=Helen|work=Pearl & Coutts|access-date=2018-10-15|language=en}}</ref><ref>{{Cite web|url=https://www.thedrinksbusiness.com/2018/08/villandry-goes-into-administration-amid-reports-of-1-5m-losses/|title=Villandry goes into administration amid reports of £1.5m losses|website=www.thedrinksbusiness.com|language=en-US|access-date=2018-10-25|archive-url=https://web.archive.org/web/20180810111101/https://www.thedrinksbusiness.com/2018/08/villandry-goes-into-administration-amid-reports-of-1-5m-losses/|archive-date=2018-08-10|url-status=live}}</ref> Property values have increased in part due to changes in planning constraints,<ref>{{cite web| url=http://transact.westminster.gov.uk/docstores/publications_store/planning/special_policy_areas_and_policies_map_revision_to_westminsters_city_plan.pdf | title=Special Policy Areas and Policies Map Revision – Publication Draft (Regulation 19) Revision to Westminster's City Plan: Strategic Policies | publisher=[[City of Westminster]] | date=November 2015 }}</ref><ref>{{Cite web|url=http://transact.westminster.gov.uk/docstores/publications_store/planning/special_policy_areas_and_policies_map_revision_supporting_information.pdf | title=Supporting Information Publication Draft (Regulation 19) Special Policy Areas and Policies Map Revision | publisher=[[City of Westminster]] | date=November 2015 }}</ref> along with the impact of the [[Crossrail|Cross Rail]] and [[Oxford Street]] projects, which were projected to increase commercial activity in the area.<ref>{{Cite web|url=http://residential.jll.co.uk/new-residential-thinking-home/research/crossrail-opportunities-2016.aspx|title=JLL {{!}} Residential Research {{!}} Crossrail Opportunities 2016|website=residential.jll.co.uk|language=en|access-date=2018-10-17|archive-url=https://web.archive.org/web/20171021045018/http://residential.jll.co.uk/new-residential-thinking-home/research/crossrail-opportunities-2016.aspx|archive-date=2017-10-21|url-status=live}}</ref><ref>{{Cite news|url=http://www.savills.com/_news/article/3359/240380-0/4/2018/infrastructure-investment-and-land-value-uplift|title=Infrastructure Investment and Land Value Uplift|last=Savills.com|date=18 April 2018|access-date=2018-10-17}}</ref><ref>{{Cite web|url=http://www.oxfordstreetdistrict.com/|title=A FUTURE FOR THE OXFORD STREET DISTRICT|website=www.oxfordstreetdistrict.com|access-date=2018-10-25|archive-url=https://web.archive.org/web/20180323183536/http://oxfordstreetdistrict.com/|archive-date=2018-03-23|url-status=live}}</ref>

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]].''<ref>{{Cite web|url=https://www.mynoho.co.uk/|title=MyNoHo – The Langham Estate Blog|website=MyNoHo|language=en-US|access-date=2018-10-15|archive-url=https://web.archive.org/web/20180902214825/http://www.mynoho.co.uk/|archive-date=2018-09-02|url-status=live}}</ref><ref>{{Cite web|url=https://twitter.com/mac_1066|title=FitzNovia Twitter Feed|website=twitter.com|language=en|access-date=2018-10-15}}</ref>'' 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.''<ref>{{Cite news|url=https://langhamestate.com/commercial-property-fitzrovia/|title=Commercial lettings : Serviced Office Space for Rent : London West End|work=Langham Estate|access-date=2018-10-15|language=en-GB|archive-url=https://web.archive.org/web/20180906195459/http://www.langhamestate.com/the-estate/|archive-date=2018-09-06|url-status=live}}</ref><ref name=":1" />''


The company markets some of its properties under the banners of ''Noho'' and/or ''FitzNovia to describe the area specifically within the region just north of Oxford Street, and just West of Regents Street.<ref>{{Cite web|url=https://www.mynoho.co.uk/|title=MyNoHo – The Langham Estate Blog|website=MyNoHo|language=en-US|access-date=2018-10-15|archive-url=https://web.archive.org/web/20180902214825/http://www.mynoho.co.uk/|archive-date=2018-09-02|dead-url=no|df=}}</ref><ref>{{Cite web|url=https://twitter.com/mac_1066|title=FitzNovia Twitter Feed|last=|first=|date=|website=twitter.com|language=en|archive-url=|archive-date=|dead-url=|access-date=2018-10-15}}</ref> 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.<ref>{{Cite news|url=https://www.langhamestate.com/the-estate/|title=Commercial lettings : Serviced Office Space for Rent : London West End|work=Langham Estate|access-date=2018-10-15|language=en-GB|archive-url=https://web.archive.org/web/20180906195459/http://www.langhamestate.com/the-estate/|archive-date=2018-09-06|dead-url=no|df=}}</ref><ref name=":1"/>''
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.<ref>{{Cite web|url=http://fitzwest.org/wordpress/draft-plan/|title=Draft Plan {{!}} FitzWest|website=fitzwest.org|language=en-US|access-date=2018-10-15|archive-url=https://web.archive.org/web/20180902195507/http://fitzwest.org/wordpress/draft-plan/|archive-date=2018-09-02|url-status=live}}</ref><ref>{{Cite web|url=http://fitzwest.org/wordpress/wp-content/uploads/2017/03/00-Inroduction-Draft.pdf|title=FitzWest Plan -- Fitzrovia West Neighbourhood Forum|last=www.FITZWEST.ORG/wordpress}}</ref> The plan focused on improving the local amenity, affordable housing provision, poor broadband data services and air pollution conditions.<ref>{{Cite web|url=http://fitzwest.org/wordpress/wp-content/uploads/2017/03/00-Inroduction.pdf|title=FitzWest Plan: Fitzrovia West Neighbourhood Forum|website=fitzwest.org|access-date=2019-01-01}}</ref><ref>{{Cite web|url=http://betteroxfordstreet.org/|title=Better Oxford Street Campaign - Pedestrianising Oxford Street is not the answer|website=Better Oxford Street Campaign|language=en-GB|access-date=2019-01-01}}</ref><ref>{{Cite web|url=http://fitzwest.org/wordpress/digital/broadband-in-fitzrovia/|title=Broadband in Fitzrovia {{!}} FitzWest|language=en-US|access-date=2019-01-01}}</ref>


In August 2023, Langham Estate decided to divest itself of a third of its property holdings.<ref>{{Cite web |last=Norman |first=Paul |date=2023-08-17 |title=Langham Estate Puts £500 Million Slice of Fitzrovia on Market |url=https://www.costar.com/article/278843085/langham-estate-puts-%C2%A3500-million-slice-of-fitzrovia-on-market? |access-date=2023-11-14 |website=CoStar}}</ref> These include 27 freehold assets of offices, retail, leisure, educational, medical and residential properties in northern Fitzrovia.<ref>{{Cite web |title=£500M West End Sale Process Is Largest Launched In London This Year |url=https://www.bisnow.com/london/news/capital-markets/500m-west-end-sale-process-is-largest-launched-in-london-this-year-120243 |access-date=2023-11-14 |website=Bisnow |language=en}}</ref> These properties were reportedly sold for £350m in January 2024.<ref>{{Cite web |title=Weekly data sheet: Opportunistic buyers win £300 mln chunk of London's West End |url=https://propertyeu.info/Nieuws/Weekly-data-sheet-Opportunistic-buyers-win-300-mln-chunk-of-London-s-West-End/db9d69c6-15dd-4934-b709-de8122308d52 |access-date=2024-01-18 |website=PropertyEU News}}</ref>
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.<ref>{{Cite web|url=http://fitzwest.org/wordpress/draft-plan/|title=Draft Plan {{!}} FitzWest|website=fitzwest.org|language=en-US|access-date=2018-10-15|archive-url=https://web.archive.org/web/20180902195507/http://fitzwest.org/wordpress/draft-plan/|archive-date=2018-09-02|dead-url=no|df=}}</ref><ref>{{Cite web|url=http://fitzwest.org/wordpress/wp-content/uploads/2017/03/00-Inroduction-Draft.pdf|title=FitzWest Plan -- Fitzrovia West Neighbourhood Forum|last=www.FITZWEST.ORG/wordpress|date=|website=|archive-url=|archive-date=|dead-url=|access-date=}}</ref> The plan has focused on improving the local amenity, affordable housing provision, poor broadband data services and pollution reduction.<ref>{{Cite web|url=http://fitzwest.org/wordpress/wp-content/uploads/2017/03/00-Inroduction.pdf|title=FitzWest Plan: Fitzrovia West Neighbourhood Forum|last=|first=|date=|website=fitzwest.org|archive-url=|archive-date=|dead-url=|access-date=2019-01-01}}</ref><ref>{{Cite web|url=http://betteroxfordstreet.org/|title=Better Oxford Street Campaign - Pedestrianising Oxford Street is not the answer|website=Better Oxford Street Campaign|language=en-GB|access-date=2019-01-01}}</ref><ref>{{Cite web|url=http://fitzwest.org/wordpress/digital/broadband-in-fitzrovia/|title=Broadband in Fitzrovia {{!}} FitzWest|language=en-US|access-date=2019-01-01}}</ref>


== Gallery ==
==Gallery==
<gallery>
<gallery>
File:Great Portland Street From Oxford Street Feb 2011.jpg|Many Langham Estate holdings are found at the southern end of [[Great Portland Street]]
File:Great Portland Street From Oxford Street Feb 2011.jpg|Many Langham Estate holdings are found at the southern end of [[Great Portland Street]]
File:Great Titchfield Street - Margaret Street junction.JPG|Numerous buildings on [[Great Titchfield Street]] and [[Margaret Street]] are part of the Langham Estate
File:Great Titchfield Street - Margaret Street junction.JPG|Numerous buildings on [[Great Titchfield Street]] and [[Margaret Street, London|Margaret Street]] are part of the Langham Estate
File:Great Portland Street prior to tree planting.jpg|Langham Estate historic holding on [[Great Portland Street]]
File:Great Portland Street prior to tree planting.jpg|Langham Estate historic holding on [[Great Portland Street]]
File:Hallam Street Marylebone - panoramio.jpg|Langham Estate properties on [[Hallam Street]]
File:Hallam Street Marylebone - panoramio.jpg|Langham Estate properties on [[Hallam Street]]
Line 52: Line 55:
</gallery>
</gallery>


== References ==
==References==
{{reflist}}
{{reflist}}


== External links ==
==External links==
{{Commons category|Langham Estate}}
{{Commons category|Langham Estate}}
* The Langham Estate [https://www.langhamestate.com/ website]
* [https://www.langhamestate.com/ The Langham Estate website]
* [https://www.google.com/maps/d/viewer?mid=1ewIqf1mgfQvUDI0UpjqXNPPKPUo&usp=sharing Map of Langham Estate] (Mount Eden Land Guernsey Ltd)
* [https://www.google.com/maps/d/viewer?mid=1ewIqf1mgfQvUDI0UpjqXNPPKPUo&usp=sharing Map of Langham Estate] (Mount Eden Land Guernsey Ltd)
* [https://www.mynoho.co.uk/ MyNoHo] – The Langham Estate Blog
* [https://www.mynoho.co.uk/ MyNoHo] – The Langham Estate Blog
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{{Real estate in the United Kingdom}}
{{Real estate in the United Kingdom}}


[[Category:1925 establishments in England]]
⚫
[[Category:British companies established in 1925]]
⚫
[[Category:Real estate companies established in 1925]]
[[Category:Property companies of the United Kingdom]]
[[Category:Privately owned estates in London]]
[[Category:Privately owned estates in London]]
⚫
[[Category:Companies established in 1925]]
[[Category:Buildings and structures in the City of Westminster]]
[[Category:Buildings and structures in the City of Westminster]]
[[Category:Fitzrovia]]
[[Category:Fitzrovia]]
⚫
[[Category:Real estate and property developers]]

Latest revision as of 07:03, 14 October 2024

Langham Estate
Company typePrivate limited company by shares
IndustryReal estate management
Founded9 December 1993
Headquarters
London
,
UK
Area served
13.8 acres
Key people
Ahsan Ellahi
OwnerSamuel Tak Lee
ParentMount Eden Land Limited (Guernsey)
Websitewww.langhamestate.com

The Langham Estate is a property estate in Fitzrovia, London, and is owned by the Mount Eden Land Limited (Guernsey). The company controls 14 acres of real estate in central London. A third of its property portfolio was sold in 2024.

Background

[edit]
Great Portland Street as seen in the early 1900s

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 with its footprint of 13.8 acres of central London property.[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]
Great Portland Street is long known for its shops and restaurants

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]

[edit]

References

[edit]
  1. ^ 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.
  2. ^ "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.
  3. ^ The Howard de Walden Estate is said to have sold 40 acres in East Marylebone in anticipation of high death duty obligations.
  4. ^ 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/.)
  5. ^ 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.
  6. ^ "History of The Langham Estate". Langham Estate. Retrieved 15 October 2018.
  7. ^ 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.
  8. ^ "The secretive billionaire". 20 August 2009. Archived from the original on 24 March 2016. Retrieved 16 October 2018.
  9. ^ Jenkins, Simon (2012). Landlords to London: The Story of a Capital and Its Growth. Faber & Faber. p. 202. ISBN 978-0-571-29476-3.
  10. ^ "About Fitzrovia London". Fitzrovia Neighbourhood Association. 2 April 2012. Archived from the original on 4 July 2018. Retrieved 17 October 2018.
  11. ^ 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.
  12. ^ Kevin Cahill (2002). Who Owns Britain. Canongate Books Ltd. ISBN 9781841953106.
  13. ^ "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.
  14. ^ Shah, Oliver (16 November 2014). "Hong Kong tycoon sets sights on Chinatown". The Sunday Times. ISSN 0956-1382. Retrieved 15 October 2018.
  15. ^ "Lee Family Investors" Tender Offer – Shaftesbury PLC – Company Announcement - FT.com". markets.ft.com. Retrieved 10 December 2018.
  16. ^ "Time for 'Man of Mystery' Shaftesbury shareholder to put up or shut up". Evening Standard. 29 January 2019. Retrieved 24 April 2019.
  17. ^ "Samuel Tak Lee Sells Stake in Shaftesbury for £436M". Mingtiandi. 2 June 2020. Retrieved 11 June 2020.
  18. ^ 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.
  19. ^ Ramsorrun, Helen. "How Fitzrovia Became a Key Area for Commercial Property Investment". Pearl & Coutts. Retrieved 15 October 2018.
  20. ^ "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.
  21. ^ "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.
  22. ^ "Supporting Information Publication Draft (Regulation 19) Special Policy Areas and Policies Map Revision" (PDF). City of Westminster. November 2015.
  23. ^ "JLL | Residential Research | Crossrail Opportunities 2016". residential.jll.co.uk. Archived from the original on 21 October 2017. Retrieved 17 October 2018.
  24. ^ Savills.com (18 April 2018). "Infrastructure Investment and Land Value Uplift". Retrieved 17 October 2018.
  25. ^ "A FUTURE FOR THE OXFORD STREET DISTRICT". www.oxfordstreetdistrict.com. Archived from the original on 23 March 2018. Retrieved 25 October 2018.
  26. ^ "MyNoHo – The Langham Estate Blog". MyNoHo. Archived from the original on 2 September 2018. Retrieved 15 October 2018.
  27. ^ "FitzNovia Twitter Feed". twitter.com. Retrieved 15 October 2018.
  28. ^ "Commercial lettings : Serviced Office Space for Rent : London West End". Langham Estate. Archived from the original on 6 September 2018. Retrieved 15 October 2018.
  29. ^ "Draft Plan | FitzWest". fitzwest.org. Archived from the original on 2 September 2018. Retrieved 15 October 2018.
  30. ^ www.FITZWEST.ORG/wordpress. "FitzWest Plan -- Fitzrovia West Neighbourhood Forum" (PDF).
  31. ^ "FitzWest Plan: Fitzrovia West Neighbourhood Forum" (PDF). fitzwest.org. Retrieved 1 January 2019.
  32. ^ "Better Oxford Street Campaign - Pedestrianising Oxford Street is not the answer". Better Oxford Street Campaign. Retrieved 1 January 2019.
  33. ^ "Broadband in Fitzrovia | FitzWest". Retrieved 1 January 2019.
  34. ^ Norman, Paul (17 August 2023). "Langham Estate Puts £500 Million Slice of Fitzrovia on Market". CoStar. Retrieved 14 November 2023.
  35. ^ "£500M West End Sale Process Is Largest Launched In London This Year". Bisnow. Retrieved 14 November 2023.
  36. ^ "Weekly data sheet: Opportunistic buyers win £300 mln chunk of London's West End". PropertyEU News. Retrieved 18 January 2024.
[edit]
Wikimedia Commons has media related to Langham Estate.

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