15-16 Dufferin Street - Site Plan and Do Not Constitute the Whole Or Any Part of an Offer Or Contract
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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 S Kings Square H O 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 TR 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 O R REE T S ST E N RD STREET O R LEONA E T P WICK O T M T O BAST T C A REET E E T E S D R E Location T H S GEE S R R C O S E T N RED T IT S T N E A 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 H WH C H D N L A Bunhill Fields R T O N E S E I B O between Fortune Street to the west and Bunhill Row to the east, within easy R T R ST 15-16 T E U A E N R TO C B T D U T N E E A S R E 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 R E L T S 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 A W L O T H D D R with City Road and Old Street being arterial routes connecting the City with N H EN I C T A E T T I E HAC R L Kings Cross, Holborn and the West End. To the west lies Clerkenwell and to R U D T AN C E S T T U E R R N N E E C O M C H O ISW R the east lies Shoreditch. E I LL I T L T T H S T T F L R E E E S I S T Y E S L T R T T E C E T R E E R S E TR R O E S T D T S L The area has established itself as the ‘tech’ hub with much focus on the A S U O BEECH BARBICAN N N P D FARRINGDON S P T O R N E A T E T L O S I 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 O N M S M T I NS R MOORGATE F B RO D U L L R Station (Circle, Hammersmith and City, Metropolitan and mainline services) E E I I Y 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 IN ER I PO R T O L O N D O N W A L 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 G S O N S L O S D W U E L Guildhall CITY L D N O P S O A Y E D N N T O B E E -GRAN G R S THAMESLINK W R O E R M D G E B V IL S E S A I T H H I T A E S T E 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 Exchange L O T 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 LLEEVVEELL 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 .