Z.C.RONOGIL Investments Ltd LONDON the Grimaldi Building • King’S Cross • London N1 9PE
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Z.C.RONOGIL Investments Ltd LONDON The Grimaldi Building • King’s Cross • London N1 9PE Description A new office building was rebuilt in 1991 and has recently been comprehensively refurbished to an excellent standard. It is arranged over lower ground, ground and three upper floors and extends to a net internal area of 15,636 sq ft. The specification included carpeted floors, solid ceilings with fluorescent strip lighting units, aluminium framed double glazed windows and air-conditioning provided via Mitsubishi ceiling mounted cassettes. The floorplates are relatively column free and all floors (including the lower ground) benefit from good levels of natural daylight from two elevations. There is also a small courtyard accessed from the lower ground floor level. All floors are served by a 13-person, 1,000kg passenger lift. The property is entered from Pentonville Road via a ‘floating ramp’ leading to a reception area. The property benefits from car parking for approximately 13 vehicles to the front of the building. Z.C.RONOGIL Investments Ltd LONDON L ST P A U Caledonian I L ’S R O Accommodation Sat Nav: PE V A D Location Park E R P Highbury D R O & O N Islington C The property is located in the London Floor sq ft sq m E L A D D R N A Y O O M N O A R Borough of Camden, on the edge of the A T E O C R X D E V E K N E I S B S W R R U E King’s Cross Growth Area. The King’s Lower Ground floor 3,224 299.5 Caledonian Road T R A D Y S & Barnsbury Y E R R D H E Cross area of London has been subject T Essex P R P Road O Ground floor 3,136 291.3 U N Y E to extensive regeneration in recent years, A S T D W L N P Bernard A N C A E O O E O N Park R with the relocation of the Eurostar terminal R A1 R T First floor 3,676 341.5 L C G H C L L R A E T N A O E R M G S O D O to St Pancras International and most E E T D W P R G E S R T N D N T A S I E L Second floor 3,524 327.4 R S notably the substantial new development Y V S R I I T E N L P Y A P A I D at King’s Cross Central. King’s Cross Y U R N A N F SW W R Third floor 2,076 192.9 D O A E O H W G O King’s K D W R E E L Central is a 67 acre development site Cross L G N O A M A E O Inter’l Y C I S R Total 15,636 1,452.6 D H E King’s Angel T E which, when complete, will provide 8 V L P H E A Cross H R A D R N O E S St Pancras I L L E R O N V S G R D H D P E N T D million sq ft of mixed use accommodation T O O S E R W C L J I T S T D O E Y S R L O W S H L A to include 23 office buildings, up to 2,000 D A T N Tenure E R L R F D D K U S E A R E J N T R T T U E R S T homes and serviced apartments, 650 D R V C E S A N D I P E A N S The property is held long leasehold from the Church Commissioners for England Euston D Y B E A S Coram’s G T R S A O T R student accommodation units, 500,000 sq G O E R Fields U V T N T D L E Old B S O A O H T E V S W St for a term of 150 years from the 6th March 2013. The current head rent payable S N S U H O K E I R I S S R N T E ft of retail space and 10 new public parks U G D N S T T E R L N O R L is £32,000 per annum rising from the 2nd January 2014 to £60,000 per annum C T A R C K E Y E T B and squares, as well as theatres, cinemas, D E U R ’S T R I S E S T D R Q S I V L N O N Y (being 12.50% of the passing sublease rent). From the 2nd January 2014 the rent U T A T N H A Y R hotels and up to 50 arts and music O R I R D R L T E U D L B T D R payable is defined in the lease as 12.50% of rents received if the property is let, R E G L S E N W E L S N T K E O venues. The property is located in the N O O Russell C L E R O J W F W H R R H Square A O T Barbican A R or if it is occupied by the head tenant, is sublet at below market rent or is vacant A E H D H R R T R Farringdon Goodge M A N E S T I B E centre of the Pentonville Road, equidistant M D N E C H S L S T O Street S T C T P A G B T T A O N S A D O R T E SE O L then 12.50% of the open market rental value. The ground rent will be reviewable H O G U U E N T G O N D E H R A between Upper Street Islington and King’s R R T Chancery E E Y R R T T D O A D R D Lane A L R R W H I E Moorgate O E upwards only on a 5 yearly basis in line with RPI. S Y R C F O N H O M R G U I T Cross, the immediate surrounds benefit A W H O L M B G H B O S A D S H I R N T M L O N D O N W AL L O E O RN from a variety of restaurants, Tottenham L O H B O B L L B S Court Road O Holborn O R T H N Tenancy & Income H V I A H I G D U coffee shops and bars which enhance a C T The entire property is let to Eviivo Limited for a term of 10 years from 30 March thriving working environment. 2012 on FR & I terms subject to an upward only rent review on the 2nd April 2017. The commencing rental is £480,000 per annum exclusive devaluing to £30.70 psf Situation overall. There is a tenant only break option on 2 April 2017 on 6 months written The property is situated on the north side notice. There is a rent deposit of £280,000. of Pentonville Road, approximately 0.5 miles from Angel underground station and Covenant Information King’s Cross/St Pancras underground and Eviivo Limited’s principal activity is the development and licensing of software mainline stations, which lie to the east and products, and the provision of revenue management services to independent west respectively. The surrounding area hotels and guest houses. comprises a mix of commercial, residential For further information, please visit www.eviivo.com and retail/leisure uses. The property is bound by a small public park to most elevations..