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Chiswell Street London Ec1 35 CHISWELL STREET LONDON EC1 REVERSIONARY PRIME CORNER FREEHOLD CENTRAL LONDON INVESTMENT OPPORTUNITY 1 35 CHISWELL STREET, LONDON EC1 INVESTMENT HIGHLIGHTS 35 Chiswell Street represents a prime freehold Central London investment opportunity with excellent asset management options and a highly reversionary income profile, being located in one of the most dynamic areas in Central London. • 35 Chiswell Street occupies a rare and prominent corner site in Central • A number of the office floors and common areas have recently been London, at the confluence of the City of London, Farringdon, Shoreditch and refurbished to a high specification; Old Street; • Average Weighted Unexpired Lease Term (AWULT) of 4.8 years to lease • The City of London’s proposals for a ‘Culture Mile’ between Beech Street expiries and 4.2 years to breaks; (150 metres to the west of the property) and the new Museum of London will significantly enhance the micro location; • Presents numerous asset management opportunities, to include the refurbishment and re-letting of the office floors upon lease expiries; • Freehold; • A recent positive planning report indicates there is the potential for • Three Crossrail stations within a seven minute walk of Chiswell Street, additional massing at roof level, subject to the necessary consents; which will confirm the location as one of the best connected in London with delivery of Crossrail in 2018; • Offers sought in excess of £14,500,000 (Fourteen Million Five Hundred Thousand Pounds), subject to contract and exclusive of VAT, and reflecting • The building comprises 17,285 sq ft (1,605.8 sq m) of high quality office, a capital value of £839 per sq ft; healthcare and gym accommodation over basement, lower ground, ground and five upper floors; • Attractive net initial yield of 4.27%, based on purchaser’s costs of 6.73%. • Column-free, flexible office floorplates, ranging from 1,770 sq ft (164.4 sq m) to 2,465 sq ft (229.0 sq m); • Multi-let to eight tenants, with a low passing rent of £660,129 per annum, equating to only £38.19 per sq ft, offering exceptional reversionary potential with neighbouring locations securing headline rents of £75.00 per sq ft; 3 35 CHISWELL STREET, LONDON EC1 LOCATION 35 Chiswell Street is uniquely situated at the intersection of the City of London, Old Street, Farringdon and Shoreditch, cementing its status as one of the most exciting areas in the Central London office market. Occupying a highly prominent corner position at the junction of Chiswell Street and Lamb’s Passage, 35 Chiswell Street’s outstanding location places it at the centre of one of the most exciting office destinations in Central London, with Finsbury Square only 200 metres to the east, Old Street Roundabout 600 metres to the north and Smithfield Market and the Bank of England less than 900 metres to the west and south respectively. Furthermore, the Broadgate Estate, which is home to not only some of the world’s largest corporations, but also a plethora of restaurants, bars and cafes, provides an exceptional amenity only 450 metres to the east of the property. The area is an established office location and has recently seen a rapid evolution, benefiting from the completion of a number of high profile office developments that have secured some of the London’s leading tenant requirements. These developments include Ropemaker Place, Alphabeta, City Point, 10 Finsbury Square, 5 Broadgate and Moor Place. These developments have seen an influx of occupiers across a broad variety of sectors, with tenants in the nearby vicinity including UBS, Linklaters, Slaughter & May, Google, Yammer, Mind Candy, Bloomberg, ING Bank, Hewlett Packard, Cleary Gottlieb, Deutsche Bank, WeWork, Schroders and Rathbone Investment Management; exemplifying the diverse tenant base the location attracts. ANGEL S HE KINGS CROSS P H E R D E S ST PANCRAS S W D A C O L I T A Y K R R OA D T S A E B A G T O H S G W ST R E A R L Y E ’ L T S E E E S T R R T O L D I O T N ET E Local occupiers N A T RE S E L D R F A V I R A OLD SSTTREETREETT include: O RC R S T K PE G R I A N S I N E S T R R D N E G A H D SILIC ON T S G O E T I N ROUND ABOUT A S H R T O E R H A J N C E D O T U S H I T N R N D T E E E E E E R V T T B S R D A D U L O S O A N Y T H O H R SHOREDITCH R S R E I E L B E Y L E T G T I S O R C O S O SHOREDIT CH W R W HIGH STREET E A D L HONOURABLE R O L L W E L K E N ARTILLERY E R C L E R COMPANY O AG A D ASS G R S P FARRINGDON A Y ’ FINSBUR Y S LAMB’ SQUARE I T N E GARDENS F A E D TRER CHI A S SW N A H EL O L L R EECHC STRE ET R B S D ’ D R R L E A O FARRINGDON I B R O A N E S H D G BARBICAN THE CULTURE MILE T G D GRAY’S A O E INN T T N T E A R G S BROADGATE O T R A R O D E O E M T SMITHFIELD MARKE NEW CENTRE Museum of London) ew FOR MUSIC MOORGATE E (n T (PROPOSED) FINSBURY A CIRCUS LIVERPOOL G S STREET P L O N D O N WA L L O H H S O LO I L N D B O B O N W F R N A LL A V I A R D U R C T I N G N GUILDHALL E D W G O A T G E R N E S S CENTRAL T H R A M S CRIMINAL E E S T TOWER B T COURT T R E THE CITY E E 42 V R T I ALDGATE E S E ST PAUL’S M EAST A T 30 ST MARY R K AXE S THE ROYAL COURTS C LEADENHALL H E BANK OF ALDGATE OF JUSTICE A P S I ENGLAND BUILDING ST PAUL’S D E CATHEDRAL L E A D E N H A L L S O R N H I LL T R E C E T Not to scale. BANK For indicative purposes only. 5 T S M I N N H N E E C O W W R T E R U E B B B R T I H S E R R R F E N C H U R C H C I I I S D D D BLACKFRIARS E U P P E R T H G G G A M E S S T R E E T C 20 E E A FENCHURCH N T R E S K M G STREET N B A T CANNON E M R I A R O E STREET T C E I V T TOWER GA TEWAY E G D TOWER HILL I L O W R E R T B H A M E S S K T R B E E T BANKSIDE PIER R L A A RIVER TAXI E W C A S H K T S T E M D F THE TOWER I T H F I E L U R THE GLOBE OF LONDON O DG I THEATRE I A CHARING CROSS S R R B S TATE MODERN ST KATHARINE ART GALLERY DOCKS N B O R I D D N G O E L SOUTHWARK E CATHEDRAL DG BOROUGH I MARKET BR R E W O T LONDON B L BRIDGE A CK T E F E R R IA T S R H S G I R H O H WATERLOO AD G U O R O B 35 CHISWELL STREET, LONDON EC1 THE SHARD SALESFORCE TOWER LONDON BRIDGE THE BANK OF ENGLAND LIVERPOOL STREET BANK FINSBURY CIRCUS UBS HQ RATHBONE BROADGATE INVESTMENT CITY POINT CLEARY GOTTLIEB MANAGEMENT 21 MOORFIELDS WEWORK MOORGATE SCHRODERS BLOOMBERG BANK OF TOKYO J P MORGAN ADDLESHAW FINSBURY SQ GODDARD LLP THE BARBICAN ESTATE ALPHABETA LINKLATERS LLP SLAUGHTER & MAY 35 CHISWELL STREET HAC LONDON EC1 THE CULTURE MILE FINSBURY TOWER EXCEPTIONAL REVERSIONARY POTENTIAL Chiswell Street sits at the meeting point of London’s most dynamic sub-markets; the City of London, Farringdon, Silicon Roundabout and Shoreditch. These locations have secured a host of international occupiers who are attracted by the central location, improving transport communications and new developments enhancing the ANGEL S local area with rents well in excess of the low passing rent at the property (£38.19 per sq ft). HE KINGS CROSS P H E R D E S ST PANCRAS S Recent notable transactions within the last year include: W D A C O L I T A Y K R R OA D T S A E Tenant Property Area Rent Term (sq ft) (£ per sq ft) Certain B A ADG Capital 10 Chiswell Street, EC1 5,718 £67.50 5 years G T O H S G W ST Management R E A R L Y E ’ L T S E E E S T R R T O L D I O T N Adobe The White Collar Factory, 14,359 £75.00 11.5 years ET E N A T RE S E L D R F A V I R A O RC R S T K PE SILIC ON G R I N S A 100 Old Street, EC1 I N E S T R R D N E G A H ROUND D ABOUT T S G O E T I N A £7 5.
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