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London Ec1 9Le 330 Old Street, London Ec1 9Le 2

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London Ec1 9Le 330 Old Street, London Ec1 9Le 2 330 OLD LONDON EC1 9LE 330 OLD STREET, LONDON EC1 9LE 2 INVESTMENT SUMMARY • Located on Old Street, within the heart of Shoreditch Triangle one of London’s fastest growing and most dynamic sub markets • Situated less than 0.3 miles from Old Street Station (Northern Line) and 0.55 miles from Liverpool Street Station, a key interchange on the Crossrail network • The property comprises retail at ground and lower ground & 4 self contained residential units in the four upper floors • Freehold • The property has been held in the same ownership for the last 35 years • The building provides a total area of 3,808 sq ft (353.77 sq m) • The property is fully let to 5 tenants and produces a total current rent of £136,580 pa • Seeking offers in excess of £2,950,000 subject to contract. After allowing for adjusted purchaser’s costs of 6.20%, a purchase at this level reflects a breakdown of: - A net initial yield of 5% on the commercial element - £775 psf on the residential accommodation OLD HAC SHOREDITCH SPITALFIELDS SHOREDITCH LIVERPOOL 22 FINSBURY ARTILLERY HIGH STREET BOX PARK MARKET HIGH STREET STREET BISHOPSGATE SHOREDITCH SQUARE MOORGATE GROUNDS OLD STREET CLERKENWELL HOXTON SQUARE 330 OLD STREET, LONDON EC1 9LE 4 LOCATION Old Street and the surrounding area has become synonymous with technology companies and web businesses leading to it becoming known as Silicon Roundabout, in a reference to America’s Silicon Valley. In recent years, many technology companies have moved to the area and local occupiers now include Turner Broadcasting, Stripe, CBS Interactive Ltd, Farfetch, Google, Dopplr, Last.fm, Glue Isobar, Banksthomas, TweetDeck, livemusic.fm and McDonalds. In addition, several game and app developers, including Sports Interactive have also based themselves in the vicinity. An additional boost to the area’s ‘tech’ credentials came in September 2011 when Google opened their ‘Campus’ on Bonhill Street, which is now firmly established as a co-working and entrepreneur centre providing workspace for start-up tech firms. Old Street roundabout and station is about to undergo a £50 Million upgrade to create an attractive new pedestrianised public space, including seating and landscape gardens. New cycle lanes and two way traffic will be introduced to provide easy access to Tech City, the hub to thousands of creative occupiers and residents. Highly visible advertising space, similar to New York’s Time Square will brighten up the roundabout. CGI of Old Street regeneration 330 OLD STREET, LONDON EC1 9LE 5 SITUATION 330 Old Street is situated within the Heart of the “Shoreditch Triangle” close to Old Street’s junction with Curtain Road. The property is surrounded by numerous bars & restaurants along with office & residential accommodation alike. This eclectic mix has created a unique location for the property within the heart of Shoreditch & Old Street. The property is a short distance from Hoxton Square thought to be one of the oldest squares in the capital, which provides a host of restaurants & bars as well as newly constructed residential & office developments. Furthermore, it is home to events including the annual Hackney Village Fayre. Hotel and restaurant occupiers in the area include Ceviche, Enoteca Da Luca, Bone Daddies, Honest Burger, Shoreditch Grind, The Nobu Hotel, Ace Hotel, The Courthouse Hotel, The Hoxton Hotel, Dishoom and Hoi Polloi. The much anticipated Art Otel will be situated within 50 m of the subject property and will become one of London’s most iconic hotel destinations which is due to open in 2023. 330 OLD STREET, LONDON EC1 9LE 6 HOXTON SQUARE – 90M WALK SHOREDITCH HOUSE – 800M WALK Shoreditch House has a rooftop pool and restaurant, House Kitchen, Thought to be one of Library, Cowshed spa, House gym and the oldest squares in the 26 bedrooms. Part of the Soho House capital, this grassy patch & Co group, which was founded in of land is an oasis of London in 1995 as a private members’ calm, perfect for club for people in the creative surrounding residents industries. and occupiers. The square provides a host of restaurant and bars and is home to events including the annual Hackney Village Fayre. SPITALFIELDS MARKET – 1100M WALK A covered market in Spitalfields, London. There has been a market on the site for over 350 BOXPARK – 750M WALK years. In 2005, a regeneration programme resulted in the BOXPARK is a truly treasured spot new public spaces: Bishops in Shoreditch, housing 60 shipping Square and Crispin Place, which containers converted for use as are now part of the modern shops and restaurants, offering Spitalfields Market. one of the most unique shopping experiences in London. Once stacked with fruit and veg stalls to rival that of Covent Roger Wade, creator of Boxfresh, Garden, today Spitalfields devised the concept of refitting and Market is a style destination, repurposing shipping containers with 7 days of food, fashion to deliver an independent and and crafts bringing in 40,000 revolutionised retail experience. visitors per week. 330 OLD STREET, LONDON EC1 9LE 7 LOCAL DEVELOPMENTS & AMENITIES HOTELS REDCHURCH STREET SHEPHERDESS WALK HOXTON 1 The Hoxton 1 Sweaty Betty 2 2 Nobu Hotel Cecconi’s Italian CITY ROAD 3 Shoreditch House 3 APC Homme and Femme EAST ROAD 4 4 Apex Hotel Aimé 5 South Place Hotel 5 J Crew GOSWELL ROAD 6 6 Ace Hotel Aesop SHOREDITCH HIGH STREET BATH STREET 3 7 Art Otel Site 7 Modern Society OLD STREET 6 CURTAIN ROAD 5 8 7 5 RESTAURANTS/BARS/CAFES MISC 3 6 4 GREAT EASTERN STREET OLD STREET 1 1 Boxpark 1 Finsbury Square FARRINGDON ROAD 7 6 7 5 6 2 REDCHURCH STREET OLD STREET 2 Flight Club 2 Bunhill Fields 4 3 1 2 BUNHILL ROW 3 3 BETHNAL GREEN RD Bounce Gym Box 2 9 1 3 4 4 4 Trapeze Bar Barry’s Bootcamp CITY ROAD GOSWELL ROAD 5 Shoreditch Grind 5 Chrome Yoga SHOREDITCH FARRINGDON 10 2 HIGH STREET 6 6 Blue’s Kitchen Psycle 4 9 GRAY’S INN ROAD 1 7 7 White Collar Factory Broadgate Circle 8 8 The Diner 8 Spitalfields Market FARRINGDON ROAD BARBICAN NORTON FOLGATE 9 The Jugged Hare 9 Tea Building 7 5 10 Finch’s pub CHANCERY MOORGATE LANE MOORGATE LIVERPOOL STREET LONDON WALL LONDON WALL NEW BRIDGE STREET NEWGATE STREET 4 BISHOPSGATE ST PAUL’S BLACKFRIARS BRIDGE GRACECHURCH STREET 330 OLD STREET, LONDON EC1 9LE 8 COMMUNICATIONS ELIZABETH LINE (CROSSRAIL) The property benefits from excellent transport connections. Crossrail (‘The Elizabeth Line’) is Europe’s largest infrastructure project and is due The following stations are situated within a short walking distance. to open in Autumn 2021. The Crossrail entrance at Liverpool Street is approximately 900m from the property and is set to provide access to Elizabeth Line services. HOXTON 10 mins SHOREDITCH HIGH STREET 10 mins LONDON EC1 9LE OLD STREET 5 mins LIVERPOOL STREET 12 mins MOORGATE 15 mins Travel time in minutes 8 STRATFORD 33 10 7 4 2 2 HEATHROW PADDINGTON BOND TOTTENHAM FARRINGDON LIVERPOOL WHITECHAPEL (AIRPORT) STREET COURT ROAD STREET 6 CANARY WHARF 330 OLD STREET, LONDON EC1 9LE 9 DESCRIPTION 330 Old Street comprises a ground & lower ground commercial retail unit with separate access to residential accommodation arranged over four upper floors. Internally the commercial retail unit has been fitted out to a high specification benefitting from: • Separate internal staircase • Air conditioning throughout The residential accommodation comprises 4x two Bedroom apartments which have been refurbished recently and benefit from: • Excellent natural light • Wooden Floors throughout • A rear terrace on each floor 330 OLD STREET, LONDON EC1 9LE 10 ACCOMMODATION The Property has been measured in accordance with the RICS Code of Measuring Practice (6th Edition) as follows: FLOOR SQ FT SQ M Lower Ground 424 39.40 Ground 796 73.93 First 657 61.04 Second 682 63.36 Third 634 58.90 Fourth 615 57.13 TOTAL 3,808 353.77 330 Old Street London EC1V 9LE 330 OLD STREET, LONDON EC1 9LE 11 TENURE The property is held Freehold under title number 127198. Plan not to scale. For indicative purposes only Ordnance Survey © Crown Copyright 2020. All Rights Reserved. Licence number 100022432 Plotted Scale - 1:1000. Paper Size - A4 330 OLD STREET, LONDON EC1 9LE 12 TENANCY 330 Old Street is multi-let in accordance with the tenancy schedule and provides a total income of £136,580 per annum. FLOOR USE TENANT LEASE START LEASE EXPIRY RENT REVIEW RENT PA RENT ITZA RENT PCM G&B Retail T/A 3Thirty 1st Dec 2009 30th Nov 2029 1st Dec 2024 £50,000 £114.41 1 Residential Individual 28th Aug 2019 27th Aug 2020 £20,540 £1,711 2 Residential Individual 19th Sept 2018 18th Sept 2020 £23,400 £1,950 3 Residential Individual 21st Sept 2018 20th Sept 2020 £22,100 £1,842 4 Residential Individual 11th Aug 2018 10th Aug 2020 £20,540 £1,712 TOTAL £136,580 330 OLD STREET, LONDON EC1 9LE 13 INVESTMENT COMPARABLES PROPERTY DATE PRICE RENT NET INITIAL £PSF 140 Shoreditch High Street, EC2 Jan-20 £5,350,000 £200,000 3.50% £1,133 36 Redchurch Street , E2 Nov-19 £1,610,000 VP £1,133 5-6 Charlotte Road, EC2 Mar-19 £2,850,000 VP £1,117 307 Old Street, EC1 Jun-18 £1,400,000 £68,700 4.54% £933 331 Old Street, EC1 Mar-18 £3,250,000 £170,250 4.25% £952 RETAIL COMPARABLES RESIDENTIAL COMPARABLES PROPERTY TRANSACTION TYPE DATE AREA RENT PA RENT ITZA PROPERTY DATE PRICE RENT PSF 372 Old Street, EC1 Lease Expiry Oct-19 820 £50,000 £150.00 1/6 Bateman’s Row, London EC2 Dec-18 £835,000 £1,050 67 Charlotte Road, EC2 Open Market Letting Mar-19 443 £43,000 £111.11 5/7 Steward Street, London E1 Jan-19 £825,000 £1,100 309 Old Street, EC1 Open Market Letting Aug-18 461 £45,000 £116.00 27 Wheeler Street, London E1 Nov-19 £750,000 £893 297 Old Street, EC1 Open Market Letting Feb-17 326 £66,551 £144.93 238 City Road, London EC1 Jan-20 £800,000 £820 37/39 Commercial Street, London E1 Quoting £875,000 £875 263 Goswell Road, London EC1 Quoting £900,000 £1,100 Imperial Hall, 104/122 City Road, London EC1 Quoting £775,000 £875 VAT EPC The property is not elected for VAT and therefore no VAT will be Copies of the EPCs are available upon request.
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