Prime London Office Investment for Sale Ewr Overview 01 – 02
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EWR 21 Parr Street N1 PRIME LONDON OFFICE INVESTMENT FOR SALE EWR OVERVIEW 01 – 02 INVESTMENT SUMMARY / Virtual Freehold. / Prominent office building located a short walk from Old Street roundabout, the centre of Europe’s Tech Sector. / Completed in 2018 the Buckley Gray Yeoman designed EWR comprises 19,497 sq ft (1,811.3 sq m) of Grade A office accommodation which is arranged over Lower Ground, Ground and four upper levels. / Flexible floor plates. / Let to Aldridge Security Limited and JW Anderson Limited. / The passing rent is £679,937 per annum reflecting a highly reversionary £34.87 per sq ft. / Attractive WAULT to expiry is 10.50 years and 2.50 years to break. / Offers are invited in excess of £11,575,000 subject to contract and exclusive of VAT. This reflects a low capital value of £594 per sq ft and a NIY of 5.50% assuming purchaser costs of 6.71%. EWR AERIAL VIEW 03 – 04 06 01 09 05 03 02 FARRINGDON 04 11 CLERKENWELL 10 07 08 OLD STREET ANGEL 12 01 Moorgate Station 02 Old Street Station 03 The Bower 04 The Atlas Building 05 White Collar Factory 06 Barbican 07 Smithfield Market 08 Farringdon Station 09 Angel Station 10 Wenlock Basin 11 City Basin 12 Regents Canal EWR OLD STREET 05 – 06 THE CENTRE OF EUROPE’S TECH SECTOR. OLD STREET IS AT THE HEART OF THE GROWING NORTH CENTRAL LONDON OFFICE “VILLAGES” COMPRISING ANGEL, KING’S CROSS, CLERKENWELL AND FARRINGDON THAT HAVE BECOME SYNONYMOUS WITH THE FASTEST GROWING GLOBAL BUSINESS SECTORS. 01 03 02 04 OLD STREET Behind Silicon Valley, Old Street has the highest concentration of technology businesses in the world. Offering a unique blend of exciting start-ups and global blue Digital media brings UK internet chip companies, Old Street has become a hub economy to £120 billion per annum for originality, creativity and is at the forefront of the 21st century’s technological revolution. Given its proximity to the City of London, Old Street provides the perfect conditions for Fintech to flourish, attracting the leading talent from both the technology and financial sectors. Fintech unicorns who call Old Street home include Box, Seedrs, Adobe and MVF. In addition to the tech sector, Old Street provides Substantially improved transport a rich and dynamic environment attracting an infrastructure & £50 million extensive collection of industries and businesses from across the spectrum. With many exciting upgrade to Old Street roundabout start-ups, Blue Chip firms and Fashion & Creatives, Old Street boasts an attractive occupier mix including Turner Broadcasting, Farfetch and Checkout.com. 01 White Collar Building As the number of local occupiers continue to 02 Shoreditch Grind increase, Old Street has branched out to Angel, 03 Finsbury Square with the likes Expedia and Tickmaster residing 04 Serata Hall, The Bower in the locality. d d R R y x r e r ss e b EWR LOCAL AREA E l 07 – 08 u M t ESSEX d S R r d e ROAD n p a p Downham Rd l s U g n i K d R N r e i w o N oseary v u d o d 04 r ardens 37 a R R t e h l B x r B LOCATION i o t e ta R n e HAGGERSTON o S s n d s i a D p r E R r o e w e p v 25 i p L U Penn St 19 SURROUNDED BY 31 03 H Laburnum St o x t 28 o St n h S g t i H St BUZZING NEW n e N 32 40 o m e t ro F d t w Soreditc g a S r n 12 o ar N i 33 R P Par l rf or s a I h No t 08 el R W h d le 41 R ag 18 35 E d DESTINATIONS e 29 rov 36 r G pie Wenlock Basin Na 21 t S 20 39 30 City Road Basin d l P W e r h o fi t a v i ALONG WITH OLD ANGEL o r P f 10 44 s R t HOXTON d S 22 11 S t h 45 e 14 Hackney Rd p e r 17 d C N h it 46 y 02 e FAVOURITES. e R d d s w R s 16 W N d n a o a l r k l t s t h t Nile S d S g R R n EWR is located between Old Street and C n i e d y v e o e K t A n n x k y t r o c Islington, the area boasts a wide selection r e G a a 26 H ia Rd b l H b olum o 15 oton C e S s s o t w C Suare of bars, restaurants, cafés and retail spots R ity 24 St e sset 06 Rd Go l l R all within walking distance - there’s always d t S Pl n ick o nsw t Bru l something new to discover. e d d y 34 09 27 13 M t 38 S ld S O B w St 11 l a 43 a iv a rc t Pe n h 05 OLD ST fi R St e nby d l ra G d G r ea S t t E a st 01 er 01 n St 23 Old St 02 03 Occupiers 24 Urbanest Hoxton LOCAL AREA 01 Adobe 25 Zava Techology 02 AME Trade EAGLE WHARF ROAD 03 Anthology Hoxton Press Amenities 04 Bridge U 26 Bodean's IS SITUATED IN A 05 CBS 27 Brewdog 06 Centre of Business 28 Britannia Leisure Centre PROMINENT POSITION ON Economics and Research 29 Canal No 5 THE NORTHERN SIDE OF 07 Checkout.com 30 Charles Lamb Pub 08 Critical Publics 31 Co-op PARR STREET, A SHORT 09 Ebiquity 32 Duke of Cambridge 10 Expedia 33 Earl of Essex WALK FROM OLD STREET 11 Farfetch 34 Honest Burger ROUNDABOUT, DUBBED AS 12 Holborn Studios 35 Narrowboat 13 Kaizen 36 Plaquemine Lock ‘THE SILICON ROUNDABOUT’. 14 Kingpin Communications 37 Rosemary Garden Pitches 15 MeiraGTX 38 Serata Hall 16 Morris + Company 39 The Beehive 17 MVF 40 The Commissary 18 NatWest 41 The Island Queen 19 Storey (British Land) 42 The Shoreditch Trust 20 The Office Group 43 Wagamama 01 Cocotte, Hoxton Square 21 Ticketmaster 44 Wenlock Arms 02 Regent's Canal 22 Total Systems Plc 45 Wenlock Café 03 Gymbox, Old Street 23 Turner Broadcasting 46 William IV EWR LOCAL AREA 09 – 10 ESSEX ROAD 13 MINS 5 MINS KING'S CROSS ANGEL HOXTON ST PANCRAS 18 MINS 18 MINS 13 MINS 6 MINS 6 MINS 20 MINS OLD ST 12 MINS 5 MINS LIVERPOOL ST CONNECTIVITY 10 MINS 19 MINS Eagle Wharf Road benefits from excellent connectivity being a short walk or cycle from MOORGATE Old Street Underground Station and Essex Road 01 02 National Rail Station. 10 MINS Journey times taken from EWR. Source: TfL. 14 MINS 01 Appestat, Islington High Street Proposed public square CGI. 03 02 Brewdog, Old Street ROUNDABOUT UPGRADE 03 Radio Alice, Hoxton Square 04 Crêpeaffaire, Camden Passage Old Street Roundabout is in the final stages of a radical transformation which is set to complete in 2021. 04 Upon completion, Old Street Roundabout will create a highly efficient junction easing congestion, improving traffic flow and creating a stylish public realm befitting to the importance of the surrounding area. The redevelopment will include: / Lift access into the station. Proposed entrance CGI. / Creation of a new public square by connecting the central island with the surrounding pavement. / Widening of the footpaths and creation of new pedestrian crossings. / New entrances to Old Street Station via Cowper Street to the east, and from the public square to the north west. / Creation of new cycle lanes cycle parking and cycle hire stations. d R x e ss E N e e w D N o r t d EWR h LOCAL AREA DEVELOPMENT 11 – 12 R Br R x i t d e a s n n s ia E R o w d t R S l r o e o p p p r U e v Penn St i L H o x Laburnum St t o n S t t S d h R g i d H t N n S 05 The Bower 09 39-47 East Road 13 Underwood Works e a m e l n ro o F w s t t Soreditc d S N g g a r o r n a i 207-211 Old Street, EC1 N1 6-14 Underwood Street, N1 n o i R P Par l f r K r t Is a h h No el W R R d le d g Ea t e S 11 rov G d er l pi e Wenlock Basin a N fi it 12 P ANGEL City Road Basin 14 P Pentonville Road W r h o a v r o f s R t d S S t h 02 e p Helicalney Rd Summix ERl Developments Westminster Real Estate k e c r d Ha h C 320,000 sq ft 210 Bedroom Hotel & 25.500 sq ft i ty e N R d s s e 26,404 sq ft office Completed Q3 2018 Completed W w t S a 13 l N k h 15 o 100% let in January 2019 Planning granted 70% let g r St i t h d H t l t ile S N R e h S d c fi C t n t e i 10 o e v d Pi t A n e x t y r 10 250 City Road o r r 06 The Atlas Building 14 The Cube Building a o d e G H h R b l 04 bia Rd o Colum e S oton S y s s e t n EC1 o w Ci 145 City Road, EC1 17-21 Wenlock Road, N1 R ty 09 Suare k e c Rd a l l 07 H R d 06 t S n ick Pl nsw u lto Br e d d 08 y M B OLD ST a St t t al t S v ld S i h Perc O h R 05 d g i H G h r e c a t t i E a d s e r te Berkeley Homes o 03 rn Rocket Investments Regal Homes St S h Old 01 t S 302 apartment residential tower 930 Apartments & 190 Bedroom 50 residential units and 16 & 80,000 sq ft of offices Hotel as well as retail & offices 10,000 sq ft of offices Completed 2018 Phase 2 Under construction Completed 100% let 100% let 01 Spectrum 03 White Collar Factory 07 M by Montcalm 11 70 White Lion Street 15 Caneletto Tower LOCAL 160 Old Street, EC1 1 Old Street Yard, EC1 151-157 City Road, EC1 N1 257 City Road, EC1 DEVELOPMENTS The Angel, Shoreditch and Old Street sub-markets are some of London’s fastest growing sub-markets and have been subject to GPE Derwent London Endora Holdings Ltd LBS Properties Ardmore Construction unprecedented development 166,300 sq ft offices 237,000 sq ft 247 bedroom hotel 37,239 sq ft 190 Apartments with activity in recent years.