1 7 WOBURN WALK LONDON WC1

RARE , FREEHOLD, MIXED USE BLOCK FOR SALE

Asset Management potential across current office and retail units and Planning Permission granted for development

www.rib.co.uk INVESTMENT SUMMARY

• Low captial value per square foot. • Street of historical significance in Zone 1. • 260m from Euston Station, the 5th busiest station in the UK with 41.7m passengers annually. • Low retail rents for Zone 1, with potential to reposition the retal offering and improve rental values. • Vacant offices. • Suitable for owner occupiers.

www.rib.co.uk St Pancras LOCATION International Station King’s Cross OSSULSTON STREET St Pancras This property benefits from excellent public transport connections with Euston, Kings EVERSHOT STREET A501 Cross and St Pancras Station all a short walk A501 Euston to the North-East. Station St Jame’s Gardens

JUDD STREET Euston 1-7 WOBURN WALK MELTON STREET CARTWRIGHT GDNS St Pancras International (0.45 km) Judd St Eurostar, Thameslink, South Eastern, EustonGardens Square Park Regent Sq East Midland Trains Gardens WOBURN A501 EUSTON ROAD WALK Kings Cross St Pancras (0.59 km) Grand Central, Great Northern, ENDSLEIGH STREET A4200 Virgin East Coast TAVISTOCK PLACE Euston Gardens Kings Cross St Pancras Underground Square (0.59 km) Metropolitan, Piccadilly, Hammersmith & City, Northern, Warren Brunswick Street A400 Gardens Victoria lines. Street

Euston overground (0.26 km) National and Intercity Rail Services

Russell Euston Underground (0.26 km) Square Northern, Victoria lines.

www.rib.co.uk SITUATION The property is situated on the north side of Woburn Walk, an attractive Victorian street situated in the northern area of . Woburn Walk is a quaint pedestrainsed street. Designed by architect Thomas Cubitt in 1822 it was London’s first purpose-built pedestrianised shopping street. Woburn Walk is home to a variety of small, independent shops and eateries.

DESCRIPTION The subject comprises a Grade II* listed, Victorian building comprising three retail shops with office accommodation arranged over three upper floors.

Built by Thomas Cubitt in 1822, the street has changed little since is original construction and has a high degree of historical significance, with No.5 once being the home of Irish poet and dramatist William Butler Yeats. The property has retained the original stucco façade with first floor balconies and Dickensian style wooden shop fronts at ground level.

The buildings rear elevation was rebuilt in the 1950's and in the late 20th Century the upper floors were converted to office use, accessed by a single staircase at the side of 1 Woburn Walk.

TENURE Freehold

USE The property benefits from B1a and A1 planning consent. www.rib.co.uk PLANNING The property lies within the Bloomsbury Conservation Area, within the jurisdiction of Camden Council and is Grade II* Listed. ASSET MANAGEMENT Vacant possession on the upper floors gives the property significant asset management potential, providing excellent prospects to reposition the property through refurbishment of the office accommodation or the implementation of the residential planning consent.

The retail element of the property has very low rents for a Zone 1 location. This provides the potential to implement the rent reviews or reposition the rental offering through surrenders. RESIDENTIAL CONSENT In December 2016 the property received planning consent (Application Number 2016/3342/P) for the "conversion of first, second and third floors from offices (B1a) to 4x self- contained residential flats (2x1 bed and 2x2 bed) (C3) with associated alterations including 2 storey front infill extension and creation of 2 rear Juliet balconies."

www.rib.co.uk FLOORPLANS (As existing)

Third Floor

Ground Floor

Second Floor

Basement

First Floor FREEHOLD PROPOSAL Grade II* listed building of historical significance, set within the Bloomsbury Offers are invited in excess of £3,250,000 (three million, two hundred fifty Conservation Area. Total area of 3,952 sq ft, comprising 1,477 sq ft of retail thousand pounds) subject to contract and exclusive of vat. and 2,475 sq ft of office accommodation, over basement, ground and three upper floors. This provides a low capital value of £822 PSF.

TENANCY SCHEDULE Use Passing Unit Floor Tenant Sq Ft Lease Start Review Lease Expiry Comments Class Rent (PSF) Basement 7 Marler Estates PLC Peppercorn 29/09/1984 28/09/2983 LLH (rear) Basement The London 7 Peppercorn 22/11/1962 28/09/2022 LLH (front) Electricity Board

Ground KAP (London) Limited T/A £12,700 25/03/2017 Inside 1954 Act £9,525.00 rent deposit 1 A1 431 25/03/2007 24/03/2032 & Basement Cnives Sandwich Bar (£29.47) (Outstanding) Basement circa 180 sq ft

Inside 1954 Act Tenant has indicated Ground & basement, Unit 3 Dino Nicolaou £16,000 3 & 5 A1 709 24/06/2009 24/06/2019 24/06/2029 desire to assign or surrender. Ground, Unit 5 T/A Wot The Dickens Cafe (£22.57) Basement circa 230 sq ft

Ground Unit 7 Mantonville Limited £11,500 24/06/2017 Inside 1954 Act 5 & 7 A1 337 24/06/2007 23/06/2027 Basement Unit 5 T/A Strim Hairdressers (£34.12) (Outstanding) Basement circa 130 sq ft

First VACANT B1(a) 954 VACANT

Second VACANT B1(a) 922 VACANT

Regional Building Outside 1954 Act Third B1(a) 599 1 YEAR LEASE Control Ltd Mutual break option on 60 days notice

Total 3,952 £40,200

VIEWING Ben Blausten Damien Field Nicholas Silver Misrepresentation Act. 1967. [email protected] [email protected] [email protected] These particulars are intended only to give a fair description of the property and do not form the basis of a contract or any part thereof. These descriptions and all other information are T: 020 7927 6331 T: 020 7927 06220 T: 020 7927 0622 believed to be correct but their accuracy is no way guaranteed.