15-16 Dufferin Street - Site Plan and Do Not Constitute the Whole Or Any Part of an Offer Or Contract

Home , Old Street, Old Street Roundabout

Freehold office with vacant possession, of interest to owner occupiers, investors and developers.

www.15dufferinstreet.com 15-16 Duﬀerin Street EC1 15-16 Duﬀerin Street EC1

Executive Summary

• Freehold

• Self contained building comprising 6,262 sq ft (581.7 sq m) (NIA) of B1 accommodation arranged over lower ground, ground and three upper ﬂoors

• Single let to National Deaf Children’s Society expiring 14th March 2014, excluded from the Security and Tenure Provisions of the Landlord and Tenant Act 1954, Part II (as amended)

• Situated in a vibrant location between Clerkenwell and Old Street Roundabout, well poised to beneﬁt from Crossrail

• Located in one of the most sought after trendy office locations in London, between Clerkenwell and Old Street roundabout

• Two planning permissions achieved in 2013 for the creation of additional B1 accommodation

• Excellent opportunity for refurbishment, addition of new office space and/or creation of residential accommodation subject to the necessary consents

• Of interest to owner occupiers, investors and developers

• Offers are sought in excess of £2.85 million (£455 psf)

• The property is not elected for VAT

www.15dufferinstreet.com

Kings Square H

Gardens R B VER STREET E LE T A REE D 15-16 Duﬀerin Street EC1 T T S R I O H N T AD EET R C R T T E S S H E G T C EE D STR T D TR Bartholomew L T H S E R O VAL SEWAR E CI N E A I PER Square OLD STREET G GO St Luke’s E S T T H T R E Garden RN S A S T WELL L S

T T RE EE S TR E S T T T E T LD E R R O T REE S ST E N RD STREET O R LEONA T E P WICK O

M T T O BAST T A C REET E E T E S D R E Location T H S GEE S R R C O S E T

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J E B Y E The building is located on the north side of Dufferin Street, which runs O R I T L T S C WH H C D H

N L A R Bunhill Fields T O E N S E I B O between Fortune Street to the west and Bunhill Row to the east, within easy R T R T 15-16 T S E U A E N R TO C B T D U T N E S R EE A T R A T T E E G Whitecross O S R H walking distance from Old Street. G N T I T O R S FE E Market S F I S U E W D L

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L S Queen Mary EL L T W L ROAD Old Street Roundabout is the principal north gateway into the City of London N R E K R H R University R G WORSHIP

E STR O EE L E T D C O O G I of London E A

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D D R with City Road and Old Street being arterial routes connecting the City with

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Kings Cross, Holborn and the West End. To the west lies Clerkenwell and to R U D

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the east lies Shoreditch. E

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The area has established itself as the ‘tech’ hub with much focus on the A

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BARBICAN N N P D FARRINGDON S P T O R N E A

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A I R O ‘Silicon Roundabout’, which is resulting in extensive commercial and FARRINGDON LK P S T S M E F E L T E M L R I E E A A D E K T N E R W R S E A T

R residential regeneration. R L OUSE STR S I S N S O G Barbican LD TERH E R UTH G N E I A A L O F D P CHAR T L Broadgate G R A N O C Old Street Station (mainline and Northern line underground), Barbican O L O E O E

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I NS R MOORGATE F B RO D U

L L R Station (Circle, Hammersmith and City, Metropolitan and mainline services) E E Y I I LIVERPOOL F T E H T A I T L E T M FO T STREET D S R S B Museum E T R and Farringdon Crossrail entrance to be constructed on Long Lane are S I E T of London W A C LIV I E N I RP R O T L O L O N D O N W A L C U S L E S T all close by. L O R RE N E St Bartholomew’s D E T O N T

S S T W Hospital A T E L

H R L MARTIN’ OL E B S R B A O E H F T TE R SPU S ARRIN N O T S T I

E VI N T A D E A G GA L D E U O H R A C R G H T GIL T O A

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E L Guildhall CITY L D N O P S O A

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THAMESLINK W R O E R M D G E B V

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M D C S T R BA TR L S M H E E S O ET T I A E R R

Stock D E LD T E T B K O S

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P H B U R Y E ST PAUL’S X

www.15dufferinstreet.com 15-16 Duﬀerin Street EC1

Description Mid terrace period former warehouse arranged over lower ground, ground and three upper ﬂoors. The property comprises the midsection of a small island site, bounded by Dufferin Street to the south, Cahill Street to the west and Dufferin Avenue to the north and east. Access to the building is via the main entrance on Dufferin Street and secondary entrance from Dufferin Avenue at the rear.

The floor to ceiling heights are excellent with natural light front and back. Floor plates are regular and centrally heated. All floors are accessed by a lift and specification comprises perimeter trunking and plaster painted walls and ceilings.

Tenancy The entire property is let to the National Deaf Children’s Society (NDCS) at a rent of £108,000 per annum on a lease expiring 14th March 2014. The lease is outside the 1954 Act. The tenant may require their lease to be extended to 31st March 2014. www.ndcs.org.uk

Planning The site is located in the London Borough of Islington, within The St Lukes Conservation Area, the Clerkenwell Action Area Plan and the London Central Activities Zone.

GPAD Architects (www.gpadltd.com ref: Sam Caldwell) recently achieved two planing permissions:

Option 1: Mansard extension at roof level to add an additional 1,076.4 sq ft of B1 office space. (Ref: 2013/3493/FUL)

Option 2: Redevelopment of the property behind a retained facade, creating a total of 8,976sq ft NIA, an additional 2,714 sq ft, comprising an extension of an existing office building at roof level with a mansard roof and internal rearrangement of the office staircase and lift core and adjustment of the ﬂoor levels to provide additional office accommodation. (Ref: P2013/1900/FUL)

Potential for Residential Use Our client has explored the potential for residential use and we believe there is a possibility of achieving a mansard extension at roof level to add an additional circa 92.9 sq m (1,000 sq ft), subject to receiving the necessary planning consents.

Our clients believe that the November 2013 consent achieved above could have included four residential units, subject to agreeing an affordable housing contribution. Illustrations, details and plans are available on the website.

www.15dufferinstreet.com Accommodation 15-16 Dufferin Street EC1 Existing floor areas have been verified by architects, GPAD, scheduled as follows:

Floor NIA NIA GIA GIA Floor to ceiling (sq m) (sq ft) (sq m) (sq ft) (Slab to slab) metres

Third 138.5 1,491 164.9 1,775 3.88

Second 132.0 1,421 161.5 1,738 3.21 Neighbouring Roof Level Neighbouring Roof Level Lift Motor/ First 128.2 1,380 159.0 1,711 2.85 Watertank Room Ground 107.6 1,158 155.3 1,672 4.47

Lower Ground 75.4 812 156.6 1,686 2.42 elevation parapet height Total 581.7 6,262 797.3 8,582 suspended ceiling level 3780 3883 2450 2470 FOURTH FLOOR

suspended ceiling level 3200 3206 2900 2860 THIRD FLOOR

suspended ceiling level 2845 3230 2580 2900

SECOND FLOOR

suspended ceiling level 3648 3480 4473 3820 FIRST FLOOR DUFFERIN STREET DDUUFFFFEERRIINN SSTTRREEEETT LIFT PAVEMENT LEVEL PPAAVVEEMMEENNTT LEEVVEELLL 2420

GROUND FLOOR 1420

Site Boundry Line

N Further ﬂoor plans can be viewed and downloaded at www.15dufferinstreet.com

TYPICAL FLOOR PLAN

www.15dufferinstreet.com Option One - (Ref: 2013/3493/FUL) 15-16 Duﬀerin Street EC1 Office refurbishment, mansard extension plus additional ﬂoor:

Floor NIA NIA GIA GIA Floor to ceiling (sq m) (sq ft) (sq m) (sq ft) (Slab to slab) metres

Fourth 107 1,152 136 1,464 2.60

Third 132 1,421 164 1,765 2.66 Neighbouring Roof Level Neighbouring Roof Level Second 132 1,421 161 1,733 3.20 First 129 1,389 159 1,711 3.23 OFFICE SPACE E 2600 Ground 105 1,130 155 1,668 4.21 FOURTH FLOOR elevation parapet height Lower Ground 82 883 156 1,679 2.60 unchanged Total 687 7,396 931 10,021

2657 OFFICE SPACE D THIRD FLOOR

OFFICE SPACE C

3200 3087

SECOND FLOOR

OFFICE SPACE B 2845 3230 Existing window positions beyond FIRST FLOOR on Dufferin Street shown dotted

Openings in existing Spine wall formed on each . Opening LIFT shown at 2600mm AFFL 4209 OFFICE SPACE A GROUND FLOOR DUFFERIN STREET DUFFERIN STREET PAVEMENT LEVEL PAVEMENT LEVEL

OFFICE SPACE A

2600

BASEMENT Site Boundry Line 780

N Further ﬂoor plans can be viewed and downloaded at www.15dufferinstreet.com

TYPICAL FLOOR PLAN

www.15dufferinstreet.com Option Two - (Ref: P2013/1900/FUL) 15-16 Duﬀerin Street EC1 Office redevelopment with two additional ﬂoors:

Floor NIA NIA GIA GIA Floor to ceiling (sq m) (sq ft) (sq m) (sq ft) (Slab to slab) metres

Fourth 111.5 1,200 136 1,464 2.6

Third 133.3 1,435 164 1,765 2.6

Second 133.3 1,435 161 1,733 2.6

First 131.0 1,410 159 1,711 2.6 Mezzanine 110.3 1,187 155 1,668 2.6 2600 OFFICE SPACE E Ground 114.2 1,229 155 1,668 2.6 FOURTH FLOOR elevation parapet height unchanged Lower Ground 99.3 1,069 156 1,679 2.6 Total 832.9 8,965 1,086 11,690 OFFICE SPACE D 2600

THIRD FLOOR

2600 OFFICE SPACE C SECOND FLOOR

2600 OFFICE SPACE B Existing window positions beyond on Dufferin Street shown dotted

FIRST FLOOR

Existing building section

2600 OFFICE SPACE A shown dotted

MEZZANINE

OFFICE SPACE A

2600

Dufferin Street GROUND FLOOR Pavement Level LIFT OFFICE SPACE A 2600 780

BASEMENT

Site Boundry Line

N Further ﬂoor plans can be viewed and downloaded at www.15dufferinstreet.com

TYPICAL FLOOR PLAN

www.15dufferinstreet.com 15-16 Duﬀerin Street EC1

Office Rental Values:

AddressOffice ERV: Area Price Date (sq ft) (psf) 65 Clerkenwell Road, EC1 2,300 £43.00 Nov-13 5-8 Hardwick Street, EC1 2,775 £42.50 Oct-13 147-149 Farringdon Road, EC1 2,401 £40.50 Jul-13 Grant House, 56-60 St John Street, EC1 1,653 £50.23 May-13 109-111 Farringdon Road, EC1 2,820 £45.00 Mar-13

Vacant Possession Values:

Address Area Price Date Building (sq ft) (psf) condition 17 Dufferin Street, EC1 3,428 £576 U/O Part Refurbished 8 Warner Yard, EC1 7,654 £562 Mar-13 Refurbished 49 Tabernacle Street, EC1 3,640 £433 Jul-13 part refurbished

Tenure Freehold.

EPC As Energy Performance Certiﬁcate (EPC) is available on the website.

VAT 3 The property is not elected for VAT. 2 C Proposal A E HI 1 1 U 19 We are instructed to seek offers in excess of £2,850,000 for the EN L N AV 20 Freehold interest, which reﬂects a low capital value of £455 per sq ft. L RI FE S UF T D 18 Further information T For further information please visit the website or contact: EE 17 TR N S ou M RI C 16 E rin to FF ffe

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James McAdden 020 7198 2154 Oliver Sadler 020 7588 4433 [email protected] [email protected] David Earle 020 7198 2270 Jonathan Ruback 020 7588 4433 [email protected] [email protected]

D 0m 5m 10m 15m 1 o 3 1 t Disclaimer: Lambert Smith Hampton Group Limited and its subsidiaries and their joint agents Allsop for themselves and for the seller or landlord of the property whose agents they are give notice that: (i) These particulars are given and any statement about the property is made without responsibility on the part of LSH or Allsop or the seller or landlord 15-16 Dufferin Street - Site Plan and do not constitute the whole or any part of an offer or contract. (ii) Any description, dimension, distance or area given or any reference made to condition, working order or availability of services or facilities, fixtures or fittings, any guarantee or warrantee or statutory or any other permission, approval or reference to suitability for use or occupation, photograph, plan, drawing, aspect or financial or investment information or tenancy and title details or any other information set out in these particulars or otherwise provided shall not be relied on as statements or representations of fact or at all and any prospective buyer or tenant must satisfy themselves by inspection or otherwise as to the accuracy of all information or suitability of the property. (iii) No employee of LSH has any authority to make or give any representation or warranty arising from these particulars or otherwise or enter into any contract whatsoever in relation to the property in respect of any prospective purchase or letting including in respect of any re-sale potential or value or at all. (iv) Price or rent may be subject to VAT and any prospective buyer or tenant must satisfy themselves concerning the correct VAT position. (v) Except in respect of death or personal injury caused by the negligence of LSH or Allsop or their employees or agents, LSH and Allsop will not be liable, whether in negligence or otherwise howsoever, for any loss arising from the use of these particulars or any information provided in respect of the property save to the extent that any statement or information has been made or given fraudulently by LSH or Allsop. (vi) In the case of new development or refurbishment prospective buyers or tenants should not rely on any artists’ impressions or architects’ drawings or specification or scope of works or amenities, infrastructure or services or information concerning views, character or appearance and timing concerning availability www.15dufferinstreet.com or occupation and prospective buyers or tenants must take legal advice to ensure that any expectations they may have are provided for direct with the seller or landlord and LSH or Allsop shall have no liability whatsoever concerning any variation or discrepancy in connection with such matters.