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Value-add freehold with refurbishment opportunity

London, United KingdomUnlock address

79%

£8.400.000

Mixed use

#12162

Value-Add

3 Feb 2024

Property Details

Broker

Deactivated

25,112 sq.ft.

2,333 m²

Leasable area

334 £/sq.ft.

3,600 £/m²

4.46 %

Freehold

X

Fees

0.00 %

0.50 %

0.00 %

0.50 %

Investment Overview

Art-deco style mixed-use building comprising 25,112 sq ft NIA on a 0.34 Acre (0.13 Hectare) site 25% of income let to the undoubted covenant of the NHS Foundation Trust. Total passing rent of  396,905 p.a. reflecting a very low  15.80 psf overall. Option for immediate vacation possession of 75% of the accommodation, or, a fully income producing building until 2024. Indicative studies show potential for additional massing and/or alternative uses (subject to the necessary consents). The property was constructed of red brick and characterised by art-deco external detailing. Arranged over lower ground, ground and two upper floors. Internally the property retains its exceptional volumes, with ceiling heights of c.3m throughout and crittal glazing on its elevations. Floor plates are broadly rectangular set around a central core.