UNITS 1 A & B, 427 — 429 CALLY YARD, CALEDONIAN ROAD N7

Outstanding Well Let Office Investment Opportunity

CITY OF LONDON INVESTMENT KING’S CROSS SUMMARY 20 MINS WALK

• Well located on the western side of Caledonian Road in , just 3 minutes’ walk from Caledonian Road Underground Station. • A brand new self-contained ground floor office providing 13,950 sq ft (1,296 sq m) of unique double Height accommodation. • Forms part of the brand new London CALEDONIAN ROAD Square mixed used development. & BARNSBURY • Let to Instant Managed Offices Ltd for a term of 5 years from 16th April 2021. In addition there is a Tenant Substitution Agreement CALEDONIAN ROAD A5203 whereby the Secretary of State for Housing, Communities and Local Government have certain step in rights. ROMAN WAY • Tenant will trade as Job Centre Plus. • Income of £662,665 per annum. • Virtual freehold (999 years) at BUILDING 1 a peppercorn • Offers in excess of £9,927,500 (NINE MILLION NINE HUNDRED AND TWENTY SEVEN FIVE HUNDRED THOUSAND POUNDS) subject to contract and exclusive of VAT. CALEDONIAN ROAD A5203 • Net initial Yield of 6.25% after CALLY YARD allowance for purchasers costs of 6.8%

3 MINS WALK TO CALEDONIAN ROAD STATION LOCATION & SITUATION

Islington is one of London’s most affluent boroughs, Cally Yard is situated on the eastern side of Caledonian located approximately 2 miles north east of the West Road, just 3 minutes’ walk to Caledonian Road Station End and 1.5 miles north of the . The area to the north (piccadilly Line) and 5 minutes’ walk to is well established as one of London’s most desirable Caledonian Road and Barnsbury Station to the South commercial, residential and entertainment destinations (Overground). with its numerous bars, restaurants, entertainment venues, Conference centres and park areas attracting hundreds of The Piccadilly line provides direct trains thousands of visitors a year. to Kings Cross & St Pancras International Station, linking Cally Yard directly with the commercial and Islington has a large primary catchment of 339,000 cultural hotspot around kings Cross. people (London’s most densely populated borough with an approximate population density of 13,890 people per sq km) with this expected to increase by more than twice the national average by 2027.

WALKING FROM CALLY YARD

Caledonian Road Station Caledonian Park Caledonian Road & Upper Street, Islington Kings Cross 4 mins 5 mins Barnsbury Station 20 mins 21 mins 6 mins

BY TUBE FROM CALEDONIAN ROAD STATION

Kings Cross Covent Garden Leicester Square Victoria Heathrow Terminals 3 mins 9 mins 11 mins 16 mins 16 mins 1 hour

BY OVERGROUND FROM CALEDONIAN ROAD & BARNSBURY STATION

Highbury & Islington Stratford Liverpool Street 2 mins 15 mins 21 mins 21 mins 24 mins

NEAREST AIRPORTS FROM CALEDONIAN ROAD STATION INTERNATIONAL FROM KINGS CROSS ST PANCRAS

Gatwick Airport Stansted Airport Heathrow Airport London Luton Airport Lille Brussels Paris Lyon 57 mins 59 mins 1 hour 1 hour 1 min 1 hour 22 mins 1 hour 56 mins 2 hours 16 minutes 4 Hours 41 mins Image as let, tenant currently fitting out EXPLORING THE AREA

CAFÉS & DELI’S BARS & PUBS CULTURE & EVENTS 11 1 Green & Flavour 13 The Cally 24 Estorick Collection of 453-455 Caledonian Rd 427 Caledonian Rd Modern Italian Art 1 min 1 min 39A Square 7 min 2 Costa 14 Doyle’s Tavern 465 Caledonian Rd 379 Caledonian Rd 25 Pleasance Theatre 2 min 3 min Carpenters Mews, North Road HOLLOWAY ROAD 8 min 3 Starbucks 15 Meltdown London 21 474 Caledonian Rd 342 Caledonian Rd 26 The Cally Festival 4 25 6 16 2 min 7 min 273-285 Caledonian Rd 32 8 min 20 5 4 Provisions 16 The Depot CALEDONIAN ROAD 10 167 Holloway Rd 1 Carpenters Mews, North Road 27 Tileyard Studios CALEDONIAN PARK 2 3 10 min 8 min Tileyard Rd CLOCK TOWER 1 12 min 31 13 5 Vagabond 17 Hemingford Arms & 28 ISLINGTON 24 105 Holloway Rd 158 Hemingford Rd Everyman 14 15 min 9 min 14-18 Handyside St CALEDONIAN ROAD 9 17 min & BARNSBURY 6 Bumblebee 18 The Bar with No Name 8 17 33 Brecknock Rd 69 Colebrooke Row 29 Drink, Shop & Do 27 15 min 25 min 9 Caledonian Rd 26 20 min 15 19 King’s Head Theatre & Pub 30 RESTAURANTS 115 Upper St 30 25 min Almeida St 12 27 7 Oldroyd 20 min 22 344 Upper St 19 8 min SHOPPING 18 PARKS 8 SUNDAY 20 Sainsbury’s GRANARY SQUARE 7 169 Hemingford Rd 465B Caledonian Rd 31 Caledonian Park 9 min 2 min 87 Clock View Crescent MORNINGTON CRECENT 6 min 9 Côba restaurant 21 Blue 17 Vintage ANGEL 244 York Way 162 Holloway Rd 32 29 9 min 10 min Highbury Crescent 23 15 min 10 Bird 22 Coal Drops Yard KING’S CROSS 81 Holloway Rd Stable St 15 min 19 min

LONDON EUSTON 11 Big Red’s 23 Housmans Bookshop 385 Holloway Rd 5 Caledonian Rd 16 min 20 min EUSTON SQUARE 12 Ottolenghi 287 Upper St 20 min NOTES

THIRDWAY INTERIORS DO NOT ACCEPT LIABILITY FOR ANY ERRORS AND OMISSIONS ARISING FROM THE PREPARATION OF BASE BUILD DRAWINGS WHICH ARE N DERIVED FROM ORIGINAL MATERIAL UNIT 1 - GROUND FLOOR PROVIDED BY OTHERS. ALL DISCREPANCIES ARE TO BE REPORTED TO THIRDWAY INTERIORS.

GRID LINES ARE FOR REFERENCE PURPOSES ONLY.

ALL DIMENSIONS TO BE VERIFIED BY CONTRACTOR 2 2 ON SITE PRIOR TO ANY WORKS COMMENCING. Unit 1A / 1B 9,684 ft 900 m DO NOT SCALE FROM THIS DRAWING. THIS DOCUMENT IS THE PROPERTY OF THIRDWAY INTERIORS. COPYRIGHT IS RESERVED BY THEM, AND THE DRAWING IS ISSUED ON THE CONDITION THAT IT IS NOT COPIED, REPRODUCED OR RETAINED BY, NOR DISCLOSED TO ANY UNAUTHORISED PERSON, EITHER WHOLLY OR IN PART, WITHOUT THE CONSENT IN WRITING FROM THIRDWAY INTERIORS. Key area demised THIRDWAY INTERIORS to tenant DESCRIPTION GENERAL KEY

D1.08 DOOR REFERENCE NUMBER

R3.06 ROOM REFERENCE NUMBER

NEW 100mm FULL HEIGHT PARTITION (RAF TO FCL) 300mm DOUBLE BOARDED PLASTERBOARD WALL (SLAB TO SLAB)

NEW 12mm GLASS PARTITION

NEW SOLID CORE TIMBER DOOR (SEE DOOR SCHEDULE) 838

NEW FRAMED GLASS DOOR

838 (SEE DOOR SCHEDULE) • Unique self-contained office building • Full exposed air conditioning with • Recently developed as part of London additional mechanical ventilation Square Cally Yard scheme system STATUS Approval / Comment • Self-contained WC facilities Building Control • Floor to ceiling height of 5.87m in part Contract Construction • Modern LED lighting throughout As-Built • Metal-tile raised flooring ROAD BREWERY REVISION DETAIL

REV DETAIL BY DATE

- - - DD/MM • 1 x platform lift Unit 1A / 1B - - - - • Superb natural daylight with floor to - - - -

- - - -

- - - - ceiling glazing across two elevations ------• Self-contained entrance from CLIENT street level LONDON SQUARE PROJECT ADDRESS CALLY YARD CALEDONIAN ROAD LONDON N7 9BQ

10m

DRAWING TITLE BUILDING 1 - GROUND FLOOR GENERAL ARRANGEMENT WORKING DRAWING

5m DWG NO: 17698-B1-00-GA CALEDONIAN ROAD REVISION: A SCALE @A1: 1:100 @ A3: 1:200

DATE: 21.02.19

DRAWN BY: EW 1m CHECKED BY: SB/MC 10m 5m 1m 0 NOTES

THIRDWAY INTERIORS DO NOT ACCEPT LIABILITY FOR ANY ERRORS AND OMISSIONS ARISING FROM THE PREPARATION OF BASE BUILD DRAWINGS WHICH ARE DERIVED FROM ORIGINAL MATERIAL PROVIDED BY OTHERS.

ALL DISCREPANCIES ARE TO BE REPORTED TO THIRDWAY INTERIORS. UNIT 1 - MEZZANINE GRID LINES ARE FOR REFERENCE PURPOSES ONLY. ALL DIMENSIONS TO BE VERIFIED BY CONTRACTOR ON SITE PRIOR TO ANY WORKS COMMENCING.

DO NOT SCALE FROM THIS DRAWING.

THIS DOCUMENT IS THE PROPERTY OF THIRDWAY INTERIORS. COPYRIGHT IS RESERVED BY THEM, AND 2 2 THE DRAWING IS ISSUED ON THE CONDITION THAT IT IS NOT COPIED, REPRODUCED OR RETAINED BY, Unit 1A / 1B 4,266 ft 396 m NOR DISCLOSED TO ANY UNAUTHORISED PERSON, EITHER WHOLLY OR IN PART, WITHOUT THE CONSENT IN WRITING FROM THIRDWAY INTERIORS. THIRDWAY INTERIORS

Key area demised GENERAL KEY to tenant D1.08 DOOR REFERENCE NUMBER R3.06 ROOM REFERENCE NUMBER

NEW 100mm FULL HEIGHT PARTITION (RAF TO FCL) 300mm DOUBLE BOARDED PLASTERBOARD WALL (SLAB TO SLAB)

NEW 12mm GLASS PARTITION

NEW SOLID CORE TIMBER DOOR (SEE DOOR SCHEDULE) 838

NEW FRAMED GLASS DOOR

838 (SEE DOOR SCHEDULE)

STATUS Approval / Comment Building Control Contract Construction As-Built For identification purposes only REVISION DETAIL

REV DETAIL BY DATE

B GF WC LOCATIONS AMENDED EW 02.04.19

- - - -

Unit 1A / 1B ROAD BREWERY ------

- - - -

- - - -

- - - -

CLIENT LONDON SQUARE

PROJECT ADDRESS CALLY YARD CALEDONIAN ROAD LONDON N7 9BQ

10m

DRAWING TITLE

BUILDING 1 - MEZZANINE FLOOR GENERAL ARRANGEMENT WORKING DRAWING

5m DWG NO: 17698-B1-MEZ-GA

REVISION: B

SCALE @A1: 1:100 @ A3: 1:200 CALEDONIAN ROAD DATE: 21.02.19 DRAWN BY: EW 1m CHECKED BY: SB/MC

10m 5m 1m 0 10m 5m 1m Tenure

The property is held virtual freehold, (999 years from completion) at a peppercorn.

Tenancy

The property is let on an effective FRI lease to Instant Managed Offices Ltd for a term of 5 years from 16th April 2021 at a rent of £662,665 pa subject to 9 months’ rent free (which will be topped up by the vendor).

The property will be used by Instant Managed Offices Ltd as offices and a Job Centre Plus on behalf of the DWP

In addition there is a Tenant Substitution Agreement whereby the Secretary of State for Housing, Communities and Local Government have certain step in rights in the event of Tenant failure. Copy lease and Tenant Substitution Agreement can be provided upon request.

Covenant

Instant Managed Offices Ltd is a workspace innovation company established in 1999 with managed offices in over 150 countries across the world.

We understand that Instant Managed Offices Ltd will be managing this lease under a wider Government contract to operate the premises as a Job centre plus (a new government initiative to assist the unemployed)

For the year ending 31/07/2020 Instant Managed Offices Ltd reported a turnover of £65.17M and pre tax profits of £8.75M. For the same period the company also reported a net worth of £38.06M.

The Secretary of State for Housing, Communities and Local Government are one of the largest Governmental departments and have responsibility for Building regs, Housing, local Government, planning, Race equality, Urban regeneration and building regulations.

VAT

The property is elected for VAT and it is anticipated the transaction will be treated as a transfer of a going concern.

EPC

The Property has an EPC rating of A CGI of an example fit out Development by PROPOSAL Offers in excess of £9,927,500 (NINE MILLION NINE HUNDRED AND TWENTY SEVEN THOUSAND FIVE HUNDRED POUNDS) subject to contract and exclusive of VAT. A purchase at this level will reflect a net initial yield of 6.25% after allowance for purchasers costs of 6.8%.

Commercial Consultants

Further Information

Matthew Clarke

M. 07785 236 211 [email protected]

Ben Lewis

M. 07887553674 [email protected] Address

Joseph Rantor Lewis & Partners 15 / 19 Cavendish Place M. 07976 599 374 London, W1G 0QE [email protected] T. 0207 580 4333

CALLYYARD.CO.UK

Lewis & Partners give notice that these particulars are set out as a general outline only for the guidance of intending Purchasers or Lessees and do not constitute any part of an offer or contract. Details are given without any responsibility and any intending Purchasers, Lessees or Third Party should not rely on them as statements or representations of fact, but must satisfy themselves by inspection or otherwise as to the correctness of each of them. No person in the employment of Lewis & Partners has any authority to make any representation or warranty whatsoever in relation to this property. Please note that all images including Computer Generated Images (CGI’s) are indicative only which are subject to change and therefore to be used for guidance purposes only; Measurements subject to change. Designed & produced by Mammal / mammaldesign.com