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Refurbishment opportunity

London, United KingdomUnlock address

77%

£12.500.000

Office

#14450

Value-Add

1 Mar 2024

Property Details

Broker

Deactivated

20,164 sq.ft.

1,873 m²

Leasable area

619 £/sq.ft.

6,673 £/m²

Freehold

1

X

Fees

0.00 %

0.40 %

0.00 %

0.40 %

Investment Overview

Located in the heart of Clerkenwell, home to some of the most high profile TMT businesses globally. The existing building comprises 20,614 sq ft (1,915 sq m) of F1 (educational) accommodation arranged over lower ground, ground and six upper floors. The property is single let at a rent of £780,000 per annum reflecting £37.84 per sq ft until the 23rd September 2022. Planning permission was granted in November 2021 for a comprehensive refurbishment to create 21,723 sq ft (2,018 sq m) of Grade A office accommodation with additional massing and a newly constructed 9th floor with an external roof terrace.