Clerkenwell London EC1 Freehold Investment Opportunity with Significant Development Potential Executive Summary

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Clerkenwell London EC1 Freehold Investment Opportunity with Significant Development Potential Executive Summary Clerkenwell London EC1 Freehold Investment Opportunity with Significant Development Potential Executive Summary Located in the heart of Clerkenwell close to A rare opportunity Farringdon Station to acquire a prime Freehold Comprises 21,491 sq ft (1,996.6 sq m) of offices over freehold asset with basement, ground and 3 upper floors short term income Let to Trace Group Limited until 23rd September and exceptional 2022, who have been in occupation since 1989 Current rent passing of £712,880 which equates value-add potential. to a low overall rent of £33.17 per sq ft The rent is subject to fixed uplifts Positive pre-application responses for an exciting new build office scheme Offers are invited in excess of £14,000,000 (fourteen million pounds) for the freehold interest, subject to contract and exclusive of VAT A purchase at this level reflects a net initial yield of 4.77%, assuming purchaser’s costs of 6.79%, a capital value of £651 per sq ft on the existing accommodation and £366 per sq ft on the proposed development scheme 2 / 3 Located in the heart of Landmarks 1 20 Fenchurch Street (Walkie Talkie) Clerkenwell with excellent 2 30 St Mary Axe (Gherkin) 3 110 Bishopsgate transport connections 4 Barbican 5 Guildhall 6 Smithfield Market 7 St Paul’s Cathedral 8 22 Bishopsgate 9 The Shard 10 Tower 42 224–232 Liverpool Street Moorgate St John St. Barbican Farringdon East Cannon Street St Paul’s Farringdon 9 8 3 2 1 10 7 5 4 6 N East Road Ci ty Ro ad Old Street 2 11 d a o R BunhillFields Shepherdess Walk i ty C Bunhill Ro 15 w et re St ech Be Moorgate t Central Street Whitecross Street e e r St et re Old St r r ad o e 4 v 8 R ll e ty arbican i L C B Wa t ee tr S Goswell Road ndon Go d 7 swell Roa am Lo h es Modern Pantry Gr Passo 3 et 17 Polpo re St John St l Sushi Tetsu 10 a Barbican The Gate v 11 t The Green ci 12 ee 224–232 The Jerusalem Tavern er d 13 Angel r l P t St John St. The Slaughtered Lamb e 14 S fi 15 15 13 e 9 h s 16 it 18 u o 17 St m . John Street St. John Street St. John Street S 18 rh 4 e t St Paul’s r a st We 11 12 t 6 e 10 Giltspur Ch u ad ad ee r 5 en St Ro Ro 6 17 re St et l Av et er 16 5 el lle ry n e re 8 et ak b 2 enwell ct 7 hfield ee nw u B St se a 14 r e o ad d i R Gr t ntonvi y Sp rk ee V ne r Mark o St e Clerk 1 ill Smit n n l r Pe Fields i m Ll n r o u C T lb Sk 18 3 16 Ho Farringdon King’s Cross Road Farrin gdon R oad Farringdon Road F arringdon City 12 St Thameslink 1 r eet Artisan ad Brill o t e R Caravan t t Local Amenities nu ll e ee e Clerkenwell Grind r H e atton Garden re ve r Coin Laundry A 1 St we Road t y y S Granger & Co St r 2 en e n e on Iberica k 3 Location p ville eb 14 9 to Look Mum No Hands nt 4 er i or on os 13 h Luca R 5 Ac Cl t nt Sw 6 al Pe C 7 8 Farringdon is founded 9 upon a rich heritage Gray’s Inn Road Gray’s Inn Road Gray’s Inn Road of creativity rn o Located within Farringdon’s Clerkenwell village, the area has a rich heritage, from the Order of St John who founded what Chancery Lane is today the St Johns Ambulance service, to the licensing of 35 Shakespeare’s plays and the birthplace of the English dictionary. Chancery Lane Holb et e r Today, Farringdon is regarded as the Europe’s pre-eminent t S centre of innovation where creative, media and technology firms h reside amongst Michelin star restaurants, bustling markets and King’s Cross t t St Pancras u independent cafés and bars. e o re London is the tech capital of Europe, and St John Street sits d a St dm at the epicentre of London’s ‘Golden Triangle’ of tech and i d S Ro r creative enterprise. Lamb’ s Conduit Street ’s fo d l McCann Erickson St Pancras Guil Save the Children ba o Steelcase e Holborn Tesco h T TM Lewin 10 High 11 Turner Broadcasting 12 Unilever 13 Vitra 14 Zaha Hadid 15 10 Russell 16 Square 17 Holborn 18 Southampton Row Kingsway e ssell Ru Squar Adidas Agent Provocateur Local occupiers AirBnB Alexander McQueen 1 AKQA 2 Deloitte Digital 3 Knoll 4 Kurt Geiger 5 Lastminute.com 6 7 8 9 4 / 5 Creativity and innovation are fundamental pillars of London’s Complementing the vibrant office market is the excellent economic future and Clerkenwell is a defined area that drives retail and leisure amenity which has been transformed over economic growth and networks of knowledge. the last ten years. Leather Lane and Exmouth markets have developed to become amongst London’s premier daily food This highly sought after location offers a hub for technology and markets providing office workers with an unparalleled choice creative industries, at the cutting edge of their trade, alongside of cuisines. highly creative fields like architecture, design, theatre production, advertising and marketing. New restaurants are opening regularly adding to some firm London favourites, including Granger & Co, Modern Pantry, Pizza Pilgrims and Hix, which are all well established in the area. Unrivalled Connections Over 140 trains per hour through the Farringdon interchange Perhaps one of London’s most central locations, Farringdon is just a short walk from the City, a tube ride into the West End and just three minutes by overground rail to St Pancras International, with Eurostar services to Europe. Opened in 1863, Farringdon Station claims to be the oldest underground metro station in the world, but perhaps more impressive is the estimation that by 2021, a quarter of England’s population will be able reach Farringdon within 45 minutes. Station Connections Travel Times (Mins) Farringdon 8 Angel 9 Old Street 14 Kings Cross St Pancras 13 Liverpool Street 15 Journey Times from The Building. Source TfL New Farringdon ticket hall for the Elizabeth Line (CGI) Elizabeth Line (Crossrail) Stratford Tottenham Liverpool Reading Paddington Bond Street Court Road Farringdon Street Whitechapel 10 To Shenfield mins 59 8 4 2 224–232 2 5 Canary Wharf mins mins mins mins mins mins St John St. To Abbey Wood Heathrow 8 mins 31 mins Journey Times from Farringdon Station. Source crossrail.co.uk Connectivity is set to be further improved in 2020 by the opening The new Farringdon Station western ticket hall will be of the new Elizabeth Line (Crossrail), which can be accessed 500 metres from St John Street. from the nearby Farringdon station. Elizabeth Line services will be fully integrated with London’s existing transport network The Elizabeth Line will provide fast access to a large number and will bring an extra 1.5 million people to within a 45 minute of stations across the capital, with the journey times from journey time of the capital. Farringdon to Canary Wharf and Bond Street being reduced to 8 and 4 minutes respectively. Farringdon will provide a major interchange between Crossrail, Thameslink, London Underground and National Rail services. Local Developments 6 / 7 Current & future developments Herbal House, Spectrum, The Smithson, 10 Back Hill EC1 160 Old Street EC1 6-9 Briset Street EC1 Status Completed Q1 2018 Status Completed Q2 2018 Status Completion Q3 2018 Developer Allied London & Aerium Developer Great Portland Estates Developer Savills IM Architect Buckley Gray Yeoman Architect Orms Architect Tate Hindle Scheme 115,000 Ft² mixed use Scheme 153,000 Ft² of Grade A office Scheme 47,900 Ft² of Grade A development comprising offices, accommodation office accommodation retail and residential The Ray, The Farmiloe Building, Farringdon East, 119 Farringdon Road EC1 St John Street EC1 EC1 Status Completion Q1 2019 Status Completion Q2 2019 Status Completion Q2 2019 Developer Viridis Real Estate Developer Aberdeen Standard Developer Helical Architect Allford Hall Monaghan Morris Architect AWW Architect PLP Architecture Scheme 100,000 Ft² development Scheme 63,400 Ft² development Scheme 75,000 Ft² of Grade A office and including 90,000 Ft² of of Grade A offices retail accommodation Grade A offices 100 St John Street, Farringdon West, Museum of London - EC1 EC1 West Smithfield, EC1 Status Completion Q3 2019 Status Completion Q4 2019 Status Completion 2022 Developer Aberdeen Standard Developer HB Reavis Developer City of London Architect AWW Architect John Robertson Architects Architect Stanton Williams and Asif Khan Scheme 31,000 Ft² development Scheme 207,000 Ft² of Grade A offices Scheme 269,000 sq ft of Museum of Grade A offices and 25,000 Ft² of retail of London and restaurant The Existing Building Originally constructed in the 1950s as a light industrial building and was converted to office accommodation in the early 1990s The building is of concrete frame construction under a flat roof with brick cladding and solid floors. The property provides approximately 21,491 sq ft (1,996.6 sq m) of net internal office and ancillary accommodation arranged over ground and three upper floors.
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