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Sleek office building in Farringdon Road, London EC1

Office for Sale in London, London, UK

  • Price:GBP 10,600,000.00

  • Type:Office

  • Reference:OF2997

  • Bedrooms:0

  • Bathrooms:0

  • Furnishings:Unspecified

  • Area:Sq.Mts 879.00

Mirage Proeprty is pleased to present this sleek office building in Clerkenwell, London EC1. Offered to market in immaculate condition the salient features of this property are as follows:

– Freehold.
– Situated in prime Farringdon, one of London’s most sought after office districts.
– Unrivaled connectivity located 250 metres from Farringdon Station’s Turnmill entrance.
– Highly coveted former Victorian warehouse building.
– Comprises 9,459 sq ft (878.7 sq m) of office and leisure accommodation arranged over ground and four upper floors.
– The office accommodation was comprehensively refurbished in 2020.
– A new 10 year lease over the office accommodation to Your Golf Travel at a passing rent of £550,000 per annum.
– RPI linked rent review at the end of year 5 capped and collared at 4% and 2% per annum compounded.
– The leisure accommodation is let to Fullers.
– Total passing rent of £565,000 per annum reflecting £59.74 per sq ft.
– Prime Farringdon rents are in excess of £85.00 per sq ft.

Offers in excess of £10,600,000, This reflects a capital value of £1,121 per sq ft and a net initial yield of circa 5.00%, allowing for purchaser’s costs of 6.71%.
– Potential reversionary yield of 6.00%. – the owner prefers to sell the shares of the company – 100% of the shares in the holding UK SPV are available, reducing the purchaser’s costs to 2.3%.

GBP 10,600,000.00

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OF2997

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