Contemporary office accommodation from Tuckerman
Tuckerman share details of an available freehold property situated in a prime location in the heart of Farringdon.
The property provides contemporary office accommodation arranged over lower ground, ground and three upper floors. The second and third floors are linked and benefit from a superb vaulted ceiling and double height area.
The ground and lower ground floors have previously benefitted from their own independent entrance, which could be reconfigured/reinstated.
The property is located on the western side of Saffron Hill, close to its junction with St Cross Street within the heart of Farringdon, close to London’s famous Hatton Garden jewellery. The area has undergone significant regeneration and now boasts an array of retail & leisure offerings including Leather Lane market.
Executive Summary:
Freehold property situated in a prime location in the heart of Farringdon, one of London’s most sought after submarkets.
Exceptional connectivity being located within 350 metres of the Elizabeth Line (Crossrail) at Farringdon station, which is now operational.
16,608 sq ft of contemporary office accommodation, over lower ground, ground and five upper floors. The top two floors interconnect and have a vaulted ceiling.
Multi-let to 3 office occupiers, generating a rent of £736,680 per annum, reflecting a low rent of £44.36 per sq ft overall.
Well-timed lease events over the next 1.75 years, providing an opportunity to reposition the asset.
Offers are in invited in excess of £14,800,000, subject to contract and exclusive of VAT. Pricing at this level, reflects a net initial yield of 4.65% (assuming purchasers cost of 6.73%) and a capital value of £891 per sq ft.
You can see all of Tuckerman’s commercial property listings on NovaLoca here.
