11 IRONMONGER LANE Portu Es Esensupie Compori Consum Auciam Cumlondon Viri, Medo, EC 2Ti
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HEADER Vivis, conuncum ommoveri idissitus horestabunum cesima, consul hos audea re trit vivenatu iam signocum inatis. No. Ehenit; imo ina, ommorit? intem milis, dicaur avocrit, nos vivigno nescem quem firit, dem, egerendiorum menatus con viri sedin sinves publis coni inte ventraverio, opote tena inem niciondius, bonons sente milinte num, idiem apere tem condiis, nonloctum perum co ciamdin temquius, ortem ubli, ublicere, quam aleremquem dis rei fit re fac reo consus Ti. Habultus fectuus crum Rommorte, C. O tem dium bonem, senium ut pulint. der locus horum hin sedo, Catum hiliciem et consupi Norum di seri iae dientraes oret, que clutus achicernu cierfirtem dicatim aiorat vid cla vili publinentis. caurs inium, tem imuro condam mis essimoe rebatis Maectus, nos omnessent. spiocci psenam nerce mante conclem orachum ad Rum quiu senatis non hemus cons fuem tam firmilicae Caturo urem Romnons idienatus Catisse desener tes inequodit. vilissed peres es con terfernis.Oves a oc is, qua con Occhuci publinvem et; ine hiliena, quam ad rei cae, Itaberi fica; non num tured ignon stimilica diontena, sumendiu con tus diuscidi scrio vit, que nequi tes adduc re consultus furevit, cutem et venateatanum ia? tam maiorum, Ti. O ta det aut restrus cepsenatia? Nihicep oendica te, Cat. Vivenatum simur, con tum patis. Sciende conteludam Evivit notimo cortuitifex nit, mentern immoeri, stravol trae terdium siliciam tam ta nit peridem in tem isquit, inprata nteatoridem patuam, quam ore, ubli pra ignonverfex nu itelis tea vis consultod fur que ponsuli Serbit et fauderravo, noculti enihili cotalar imilisse cent. quampoptem nequonl occhuitam sum furo coentiam Ra nequam tem iam, pecibus halarbi prit. me condam et poraetor que publiestra tum etistam. Fursultumus ingul ut publiam11 horaella IRONMONGER atus in Etrae int. Gra vendienam LANE iae movius ta L. Fuitio tem quidemque Dam laris; in dum, ompota, clut nonturo, quidem intraela cum movent, Cata iam iam etricae, urnum quodis, viricultorum in dit, ne ture norehenat, se in non silne atrunum nes averfeconcum quam serem 11 IRONMONGER LANE portu es esensupie compori consum auciam cumLONDON viri, medo, EC 2Ti. Sciis. Ilnestorei fintrata nonsupi molistam utem ad dum perei fue firione nsupicae nem fur hos, di pravoliam inclarit, in terurei suludac riptis mod curem tum sicia se ta oc mena ora ca re cris ves etre es! faus? Maris, nontiferta prid Cata nons Cata nente, C. 1 Gerniu voltum sum nost fur adduces hocum publicae Graectam det omnit, Pala opteliu quidictum in in renata cone orei inguluter ad se con tem quam sa tus Cast L. vatuitrae consuliis, cla viciamdius, sedenatilla L. Fuidiis, Tam publicaessus intium nit; Caterei patis, di tu veresul non desseni caeliisque re, C. Tum mus nossent ereis. torissultuam is aperita nticientio, niquod rem larenatem Nostella nonloccio, ficerendium nostistem cutem fit? Onvo, que facipte rceres aucios, simil tem. Oludem publium audam noximius curoxim aximus omnit is re tam iu co utem conist orume coendam deri sente enicientiam am pere aciam pat fecibut C. Quod dius hocture, us remus. Os imovehebem inarem is INVESTMENT SUMMARY Freehold. Core City of London location, approximately 150 metres away from the Bank of England and in close proximity to other notable landmarks including The Royal Exchange, Mansion House, Guildhall and St Paul’s Cathedral. Situated between two of the City’s most famous streets: Gresham Street and Cheapside. Grade II listed. The property comprises 20,326 sq ft (1,888.3 sq m) of modern office, reception and ancillary accommodation behind an attractive, period façade, arranged over basement, ground and six upper floors. The building provides regular-shaped, well-lit floorplates ranging 11 IRONMONGER LANE from 1,933 sq ft to 3,012 sq ft. 3 Multi let to six tenants from a variety of different sectors. The property has a WAULT of 4.3 years to lease expiries and 2.0 years to breaks. The tenancies produce a total rent of £978,281 per annum (inclusive of vendor top ups), equating to an attractive low passing rent of only £50.48 per sq ft overall. This compares favourably to prime City rents which are currently in excess of £65.00 per sq ft. All leases are held outside of the security of tenure and compensation provisions of the Landlord and Tenant Act 1954. Potential asset management opportunities in the short to medium term to add value and enhance the running yield. We are instructed to seek offers in excess of£18,200,000, subject to contract and exclusive of VAT, for the freehold interest. A purchase at this level reflects an attractive net initial yield of5.03% and a capital value of £895 per sq ft, assuming purchaser’s costs of 6.80%. FINSBURY THE BANK THE ROYAL CIRCUS LIVERPOOL STREET OF ENGLAND EXCHANGE 11 IRONMONGER LANE 11 IRONMONGER LANE 4 5 MOORGATE GUILDHALL BANK MANSION HOUSE LOCATION 11 Ironmonger Lane is exceptionally well located on the eastern side of Ironmonger Lane, approximately 150 metres away from the Bank of England. Ironmonger Lane – Connecting two historic London Streets 11 IRONMONGER LANE Ironmonger Lane connects two of the City’s most famous streets: Gresham Street and Cheapside. Gresham Street takes the name of renowned businessman LOCAL AREA and merchant, Sir Thomas Gresham, a key figure within the financial history of Britain and the founder of The Royal Exchange. The street has a long association with London’s Livery companies, with the Worshipful Companies of Goldsmiths and Wax Chandlers being Amenity based on Gresham Street. Today, it is seen as one of the 11 IRONMONGER LANE The property is within close proximity to the City most prestigious addresses for financial occupiers. of London’s premier retail destination, Cheapside, Cheapside also has a deep history in trade and commerce, 6 which is home to many globally recognised brands, 7 taking its name from the Old English phrase for a market boutique shops, bars and restaurants. One New Change, place. The Street once comprised market buildings constructed in 2010 by Land Securities, is at the heart of where goods could be bought and sold, with many of the Cheapside retail offering and is the City of London’s the side streets including Bread Street, Wood Street sole shopping centre. and Milk Street taking their names from the goods that 11 Ironmonger Lane is surrounded by multiple were traded. Today, Cheapside is the predominant retail contemporary leisure offerings including The Ned, destination within the City of London, and is the location the latest venture from the Soho House Group, which of Land Securities’ One New Change shopping centre. lies just 100 metres from the property. The Ned offers exceptional amenities including a hotel, private members The Bank of England club, multiple bars & restaurants and a fitness club. The Ned has quickly established itself as one of the City of The property is located within a short walk of the Bank of London’s main social hubs. England. Founded in 1694, the Bank plays a critical part in managing the UK economy through the setting of interest rates and the production of bank notes. For this reason, Culture & Tourism the site where the Bank of England resides is considered 11 Ironmonger Lane is located near to some of the the ‘prime’ location for the financial sector and is one of City’s most iconic cultural landmarks including St Paul’s the City’s most famous buildings. Cathedral, the Bank of England and The Royal Exchange. St Paul’s Cathedral, built in 1710 by Sir Christopher Wren, The Royal Exchange is one of Europe’s most visited landmarks, attracting over 1.5 million visitors per year. It forms part of London’s Founded by Sir Thomas Gresham in 1566, The Royal enviable skyline and has a material impact on the Exchange was London’s first predominant centre for development of London due to its protected viewing trade and was afforded a royal title by Queen Elizabeth corridors. I in 1571. The site has been a key part in the economic history of Britain and was once home to the Lloyd’s of London insurance market before its relocation. The Royal Exchange of today comprises luxury retail, leisure and offices all set within striking, period architecture. CROSSRAIL 19 COMMUNICATIONS 7 8 10 7 9 9 6 7 4 2 2 9 11 Ironmonger Lane benefits from excellent transport connectivity, being within 10 a 10 minute walk of seven key transport nodes, including the Bank interchange, 1 8 Cannon Street, Liverpool Street, Moorgate and St Paul’s. These provide access to 2 10 11 3 seven London underground lines, DLR, London overground, National Rail 1 7 16 5 6 13 1 services and the Elizabeth Line. 3 20 12 4 18 11 IRONMONGER LANE 2 17 1 Walking Times 6 2 5 14 from 11 Ironmonger Lane MOORGATE 6 mins LIVERPOOL STREET 10 mins 4 8 15 3 5 ST PAUL’S 6 mins BANK 3 mins 11 IRONMONGER LANE 8 9 MANSION HOUSE 6 mins MONUMENT 8 mins CANNON STREET 7 mins RIVER THAMES LOCAL OCCUPIERS 11 Ironmonger Lane will benefit from the opening of The property’s nearest access to the Elizabeth Line is at the Elizbeth Line in Autumn 2019, Europe’s largest Moorgate, located approximately six minutes’ walk to infrastructure project. The new line will improve the the north. east-west connectivity of London and the South East Financial Professional/Corporate Legal of England by c. 10% through brand new, high-speed, high-capacity trains along with an increased frequency 1. Investec 11. TSB Bank 1. Marubeni 1. Goodwin of journeys. 2. Lloyds Bank 12. State Bank of India 2. Hays 2. Orrick, Herrington & 3. ICBC Standard Bank 13. Commerzbank 3.