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Aldersgate Street London EC1A 4JQ 124 Aldersgate Street London EC1A 4JQ Charming self-contained Charming self-contained warehouse style office warehouse style office freehold with its own freehold with its own courtyard & rear garden courtyard & rear garden For Sale For Sale The Opportunity • Character Clerkenwell freehold, close to Smithfield, Farringdon and Barbican • Converted warehouse office building comprising a Net Internal Area of 4,981 sq ft (462.7 sq m) and a Gross Internal Area of 6,173 sq ft (573.5 sq m) • B1 officese u throughout • Exclusive private gated courtyard providing secure car parking for up to 3 cars • Secluded rear walled garden of approx. 1,500 sq ft • Attractive 1st floor terrace of approx. 600 sq ft • Potential to extend subject to securing the necessary consents • Sold with vacant possession on completion • Offers are invited for the freehold interest to include the front courtyard & rear garden Garden Lower Ground Floor Ground Floor Ground Floor Front Entrance The Location Connectivity The building sits in a cul-de-sac off Aldersgate Street with Charterhouse Square to the Barbican Station is within a minutes walk giving access to the Circle, west and Carthusian Street to the south. Clerkenwell Road is 300 metres to the north. Hammersmith & City and Metropolitan Lines. Farringdon Station is within 500 metres (7 minute walk) and is served by the same Tube lines, The immediate area benefits from the amenities of Smithfield Market and Clerkenwell Thameslink and Crossrail (from 2018). St Paul’s Station is a 10 minute walk Green, with a plethora of shops, bars and restaurants. The Barbican Centre, London to the south providing access to the Central Line. College of Fashion and London Museum are all nearby. The area is also well served by local bus routes, providing access to the City, Local business occupiers range from financial service providers such as Goldman Sachs King’s Cross and wider London destinations. to TMT companies such as Amazon. Angel d oa S nville R Pento 124 h o r e o City Roa Aldersgate Street d i t d c London EC1 h G H sw i ue St g King’s Cross e h l E . J l S Finsbury ven R a t St Pancras s A oh o r e t a y e d R St. Pancras r t n e o b Str a International G e d r s a o y eet ’ R s I n n Lever Street t Ea R a ste re rn S o G tre a et St. George’s d Old Street Gardens Street Farringdon Road Percival Barbican Station Brunswick eet Charterhouse Square Str Southampton Row Sq. Gardens Old Clerkenwell Shoreditch High et tre C d S Street i for t Guil y R A o Russell Square ld a e d oad r well R s Clerken g a t e n Farringdon S e Charterhouse t B Bloomsbury Street r eet i d Square s oa h o R Gard Barbican s d p bal eo Gray’s Centre s h Carthusian g T on a Inn garden tt Street t Barbican e Ha Smithfield K i Moorgate n Market g Chancery Lane s ay w Liverpool W a y y orn Holbo ur gh Holb rn Street sb Hi m London Wall oo Bl Holborn . H olb or Lincoln’s City n V Ch ia du Inn Fields Thameslink ct ancery Lane St. Paul’s Chea Fleet Street p Bank Barbican Centre Smithfield side The Building The building is accessed via an undercroft through 123 Aldersgate Street. It is approached via an attractive gated courtyard. The accommodation has been refurbished to a high standard to provide B1 Office throughout over lower ground, ground and two upper floors. The first floor is being used by the current owner as a self-contained 1 bedroom flat. Historically, there was a planning consent to convert the first and second floors to residential. Floor Areas Floor Net Internal Area Second 811 sq ft (75.4 sq m) First 795 sq ft (73.9 sq m) Ground 1,842 sq ft (171.1 sq m) Lower Ground 1,532 sq ft (142.3 sq m) Total 4,981 sq ft (462.7sq m) Amenities Lower Ground Floor The building benefits from the following amenities:- • Charming character offices with retained features • Recently upgraded to a very high standard • Kitchen & WC facilities on every floor • Centrally heated • Excellent natural light on all floors • Perimeter cabling • Generous ceiling heights throughout • Attractive 1st floor roof terrace • Private walled rear garden • Parking for up to 3 cars in its own gated front courtyard Ground Floor Lower Ground Floor Floor Plans Stair Coffee WC Point Office Flat Roof Shower WC Second Floor First Floor Shower WC Coffee Point Stair Plant Female WC Board Room Terrace Male WC Spiral Stair Garden Coffee Point Spiral Entrance Lobby Stair Main Entrance Main Stair 1 Courtyard Office Office Meeting Room N Ground Floor Lower Ground Floor Plans not to scale Tenure The Opportunity The property is freehold comprised in 3 separate title numbers – • Chance to owner occupy a hidden gem in the heart of NGL476350, NGL639319 & NGL2399989 Central London. • Potential to increase floor areas by infilling the roof terrace and/or creating a 3rd floor, subject to planning and usual consents. • Historically, the property had planning permission for change of use to residential (now expired), but the site may suit residential or other alternative uses subject to planning. • Opportunity to let as offices to create an investment even if in part owner occupation. It will be sold with full vacant possession on completion. First Floor Roof Terrace Ground Floor market evidence Capital Transactions Date Property Tenure Area (sq ft) Description Tenancy Price NIY Achieved (Millions) Cap Val (psf) Q4 2016 8 – 10 Hatton FH 11,630 Period office building Offices single let £12.03 3.42% £1,034 Garden EC1 refurbished in 2009 until 2018 and three with retail on lower retail tenants until levels 2022/ 2023 Q2 2016 17 – 18 Hayward’s FH 9,511 Former warehouse Multi let to four tenants £10.10 3.36% £1,062 Place EC1 office building with an AWULT of 2.25 years Q4 2015 Klamath House, FH 15,003 Modern office building Single let until 2023 £15.90 2.97% £1,060 18 – 19 Clerkenwell refurbished in 2012 at £33 psf with a review Green EC1 at 2018. Reversionary income Q3 2015 16-17 Bowling FH 7,888 Listed office building Multi let with a AWULT £8.85 3.76% £1,125 Green Lane, with character features of 9.25 years Clerkenwell EC1 Occupational Transactions Date Property Letting Area (sq ft) Description Tenancy Rent (psf) Q3 2016 104-110 Goswell Open 1,237 Refurbished second 5 year with 3 year £61.50 Road, EC1 Market floor without lift tenant break Q3 2016 111 Charterhouse Open 1,513 Refurbished ground 10 year with 5 year £52.97 Street, EC1 Market floor with limited light tenant break Q2 2016 10-11 Charterhouse Open 4,587 Refurbished corporate 10 year with 6 year £55.00 Square, EC1 Market style third floor tenant break Q2 2016 15-16 Dufferin Open 2,259 Character refurbished 5 year letting £61.97 Street, EC1 Market ground/lower ground floor Ground Floor Dataroom Access to the dataroom is available upon request. Proposal Offers are invited for the freehold interest to include the front gated courtyard and the rear garden. Planning We understand the building benefits from B1(a) Office Use under the Use Classes Order 1987. VAT We understand the building is not elected for VAT. EPC Garden The property has an Energy Performance Further information contact : Certificate rating of ‘D’ and a score of 78. A copy of the EPC and the supporting report are available in the dataroom. 33 Cavendish Square, London W1G OPW Julie Rees GN2 Ltd for themselves give notice that (i) these particulars do not constitute, . @gn2.uk.com nor constitute any part of, an offer or a contract; (ii) all statements contained julie rees in these particulars as to these properties are made without responsibility on DDI: +44 (0) 207 183 4769 the part of GN2 Ltd (iii) none of the statements contained in these particulars as to these properties are to be relied on as statements or representations of fact; (iv) any intending purchasers or lessees must satisfy themselves by Pippa Vincent inspection or otherwise, as to the correctness of each of the statements contained in these particulars; (v) the vendors or lessors do not make or give, [email protected] and neither GN2 Ltd nor any person in their employment has authority to make or give, any representation or warranty whatever in relation to this DDI: +44 (0) 207 183 4769 property. Unless otherwise stated, all prices and rents are quoted exclusive of Value Added Tax (VAT). Any intending purchasers or lessees must satisfy themselves independently as to the incidence of VAT in respect of any Charles Godfrey transaction. September 2020 [email protected] Designed & produced by Oracle Creative www.oraclecreative.co.uk DDI: +44 (0) 207 183 6527.
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