A little more about the property

Highly prominent freehold.
Located in Angel, a dynamic and vibrant submarket with an unmatched amenity offering.
Benefitting from excellent connectivity from the Northern Line at Angel Station and within a short walking distance from King’s Cross, Farringdon and Old Street Stations.
Attractive art-deco building comprising 41,702 sq ft (3,874 sq m) of office and ancillary accommodation arranged over lower ground, ground and four upper floors.
Multi-let to seven office tenants with a net passing rent of £1,951,948 per annum, equating to £46.81 per sq ft overall.
Highly reversionary rents, with nearby evidence close to £65 per sq ft.
Providing a WAULT of 1.0 years with lease expiries and breaks ranging from January 2024 to June 2025.
Benefitting from a whole building EPC rating of B valid until March 2033.
Numerous asset management opportunities available including refurbishing the upper stack, regearing existing leases and the creation of a communal roof terrace. There is also potential to explore alternative uses, subject to the necessary consents.
Offers are invited in excess of £24,900,000, subject to contract and exclusive of VAT, for the freehold interest.
A purchase at this level reflects an attractive net initial yield of 7.34% (assuming purchaser costs of 6.8%) and a low capital value of £597 per sq ft.

Property features

Net Initial Yield 7.34%

Air Conditioning

Raised access flooring

Shower facility

24hr security

Terrace

Investment

Cat 5 cabling

Goods lift

Bike Store

LED lighting

Flexible Office provision

Lockers

Sustainable waste management plan

Disabled facilities