Commercial investment building for sale in London, EC1V

This property is marketed by:
Strettons

Key Features

• An imposing Freehold, 6-storey warehouse building with impressive ceiling heights offering far reaching views from the upper floors.
• Within a short stroll of the extensive retail and leisure facilities on offer in Upper Street, Camden Passage, Chapel Market and Angel Central shopping centre a short distance to the north.
• Building let to three tenants with further rooftop and basement income from telecoms operators with Total Rents Reserved of £759,740 per annum.
• The ground & basement floors are let to Anytime Fitness at an extremely low passing rent of £6.22 per ft2 with RPI linked
• Commanding a prominent position in a highly desirable commercial and residential neighbourhood, located at the northernmost extent of City Road within 150 metres of Angel Station (Northern line).
• Total NIA of office element + GIA of gym element 43,691 ft2 (4,059 m2 ). Total GIA of entire building 49,680 ft2 (4,632 m2 ) + 11 car parking spaces.
• The upper floors are let short term to two office tenants off a low average rent of £21.81 per ft2 with all lease expiries in November 2027.
• The building offers a range of asset management opportunities through refurbishment of the upper floor offices; or conversion to residential via Permitted Development Rights.

Description

An imposing 6-storey warehouse style commercial building arranged over basement, ground and five upper floors extending to 43,691 sq ft (4,059 sq m) NIA and 49,680 sq ft (4,632 sq m) GIA. The building is occupied as offices by just two tenants over the 1st to 5th floors, with the ground and basement floors occupied in gym use by Anytime Fitness. The block benefits from 11 car parking spaces on a forecourt to the front of the building. The upper floor offices benefit from good, regular shaped floor plates with excellent floor to ceiling heights ranging between 3.0-3.5m, amazing levels of daylight and impressive, far reaching views. They are accessed via a dedicated entrance lobby with passenger lift and stair/WC core at the north end of the building. There is a second stair core, passenger and goods lift at the southern end of the block with ability to carve a new and larger entrance lobby out the of the ground floor demise giving good flexibility in terms of future use and access/egress from the upper floors. The ground floor and basement was fully refurbished and re-fitted by the tenant following commencement of their lease in 2022.

Location

The building is situated at the north end of City Road, close to the junctions with Colebrooke Row and Wakeley Street. Angel Underground station (Northern line) is situated within a three-minute walk, and numerous bus routes operate in the immediate vicinity into the City and West End of London. The building is also within walking distance of Clerkenwell to the south, and Old Street to the south east. The extensive retail and leisure facilities on Upper Street, Camden Passage, Chapel Market & Angel Central shopping centre are all within a short walk.