1
PAUL STREET EC2
PRIME SHOREDITCH FREEHOLD FOR SALE 2 3
79-81 PAUL STREET EC2
INVESTMENT SUMMARY
• Freehold • Located in the heart of Shoreditch, London’s ‘Tech City’ • Strategically situated only 150 meters from Old Street roundabout, and also in proximity to Liverpool Street and Moorgate stations, which are set to benefit from the opening of the Elizabeth Line (Crossrail) • Comprehensive refurbishment in 2016 • The property comprises 8,781 sq ft (815.78 sq m) of contemporary office accommodation arranged over courtyard, ground and four upper floors • Vacant possession
We are instructed to seek offers in excess of £10,000,000 (1,138 per sq ft), subject to contract and exclusive of VAT, for the freehold interest in the property. 4 5
CITY TOWER CLUSTER
PRINCIPAL PLACE
LIVERPOOL STREET STATION
MOORGATE STATION
FINSBURY SQUARE
BROADGATE QUARTER
SHOREDITCH HIGH STREET STATION
WHITE COLLAR FACTORY
OLD STREET STATION
THE BOWER 6
LOCATION – SHOREDITCH
79-81 Paul Street is located in the heart of Shoreditch, London’s original “hipster” district and one of London’s major growth and diverse office markets. This vibrant neighbourhood extends from the City of London in the south to Old Street (Silicon) Roundabout in the north.
Shoreditch and Old Street, known as “Tech City”, have become synonymous with the rapidly growing tech, fintech and media sectors. Global Tech behemoths Amazon, Microsoft, Adobe Systems and Google have all opened offices/campuses in Shoreditch over the last 5 years. Furthermore, Transferwise, Blockchain, Seedrs are some of the leading names from the rapidly growing fintech sector that have chosen this location for their global headquarters.
This exciting office market is complemented by a variety of leisure hotspots from globally recognised hoteliers, Nobu Hotel, Shoreditch House and Curtain Hotel, to the newest concept destinations including Bounce, Flightclub and the original Boxpark.
SITUATION
79-81 Paul Street is a highly prominent corner building situated at the northern end of Paul Street, approximately 150 metres from Old Street Roundabout and within close proximity of Leonard Circus. The building is also located 450 metres from Finsbury Square.
Paul Street is a prime Shoreditch address which benefits from excellent transport connections and from being in proximity to the cultural, retail, leisure, restaurant and hotel amenities which are unique to the immediate surrounds. 7
Old St Rivington St Old St Singer St Green Eastern St
Charlotte Rd
Curtain Rd
Cowper St Willow St
Blackall St
Leonard St Leonard St
City Rd Mark St
Luke St Clere St Cristina St 8
CONNECTIVITY
79 – 81 Paul Street is situated in one of London’s best connected locations. It benefits from being within walking distance of Old Street, Moorgate and Liverpool Street underground and mainline stations, as well as Shoreditch High Street Overground Station.
OLD STREET
4 MINUTES SHOREDITCH HIGH STREET
8 MINUTES
MOORGATE LIVERPOOL 8 MINUTES STREET
9 MINUTES 9
ELIZABETH LINE (CROSSRAIL)
STATION: MOORGATE/LIVERPOOL STREET
• Scheduled to open in 2021 • Europe’s largest infrastructure project HEATHROW costing in excess of £15 billion (35 MINS) • 1000 km east to west underground line which is fully integrated with existing public transport • Direct link to the west end in 7 minutes and to Heathrow in 35 minutes • 24 trains per hour, each capable PADDINGTON of transporting 1,500 passengers (9 MINS) • Creating 63,000 new jobs in the City Fringes, the City and Docklands
BOND STREET (7 MINS) OLD STREET ROUNDABOUT AND STATION UPGRADE FARRINGDON (2 MINS) Works are underway to transform Old Street Roundabout and Station. The £50m project will create a new public realm to include seating and green spaces. The redevelopment will dramatically improve safety for road users, access into the underground station and create an impressive entrance to Old Street Station, befitting its status as the gateway to Europe’s Tech City. MOORGATE \ LIVERPOOL ST.
CANARY WHARF (6 MINS)
STRATFORD (8 MINS) 10
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Leadenhall St 11
LOCAL OCCUPIERS LOCAL DEVELOPMENTS
1. Adobe 23. White Collar Factory 2. AKT II 24. The Bower 3. Allegis Group 25. Wenlock Works 4. Capital Bank 26. Chapter & Verse 5. Box.com 27. 1 Leonard Circus 6. Audible UK 28. 160 Old Street 7. Fartech 29. 70 Wilson Street 8. Capco 9. BBD Perfect Storm 10. Morningstar HOTELS 11. Mullen Lowe Group 12. Silicon Bank 30. Ace Hotel 13. Mendeley 31. CitizenM 14. Amazon 32. Hoxton Hotel 15. Open Table 33. M by Montalm Shoreditch 16. R/GA 34. Nobu Hotel 17. I-D 18. Vice 19. Mixcloud 20. Inmarsat 21. Crabtreet & Evelyn 22. Microsoft 12
DESCRIPTION SPECIFICATION
79 – 81 Paul Street was comprehensively refurbished in 79 – 81 Paul Street is finished to an exceptionally high 2016 to a Morrow Lorraine Architects design. The finished standard and benefits from the following specification: redevelopment is an impressive example of contemporary warehouse office accommodation that meets the needs of • Newly remodelled and refurbished reception the modern occupiers choosing Shoreditch as their home. • Superb natural light Accessed from a remodelled reception fronting Paul • New VRF air conditioning Street, the warehouse office accommodation totalling • Suspended LED lighting 8,871 sq ft (816 sq m) is arranged over courtyard, ground and 1st – 4th floors. • Passenger lift • Exposed galvanised steel services The office floors benefit from excellent natural light from • Exposed concrete columns three elevations and have been finished to an exceptional • Birch plywood flooring standard with new double glazed sash windows, wooden floors and feature ceilings with bespoke lighting design. • Male and female WC’s • Private external courtyard area The courtyard floor is further enhanced with an • Bicycle parking & shower facilities attractive garden area. The 4th floor has a pitched roof with exposed wooden beams only found in buildings of this age and style.
ACCOMMODATION
Floor NIA NIA Sq. Ft. Sq. M. 4th 1,537 143 3rd 1,473 137 2nd 1,466 136 1st 1,416 132 Ground 1,378 128 Lower Ground 1,511 140 Total 8,781 816 13
TYPICAL FLOOR PLANS
First Floor
Courtyard & Lower Ground 14
Ground Floor
Fourth Floor 15
Ground Floor
Courtyard Floor 16
TENURE PLANNING
The Property is held Freehold. The building is not listed. It is located in the Borough of Hackney and the South Shoreditch Conservation Area. Title Number: EGL252087
TENANCY EPC
Vacant possession. An Environmental Performance Certificate is available on request.
VAT DATA ROOM
The property has been elected for VAT. Access to an online data room is available on request. 17
PROPOSAL
We are instructed to seek offers in excess of £10,000,000 (£1,138 per sq ft), subject to contract and exclusive of VAT, for the Freehold interest in the property. BROCHURE BY WWW.FULFILAMENT.CO.UK BY BROCHURE
MISREPRESENTATION ACT 1967
IMPORTANT: These particulars do not constitute either the whole or any part of an invitation, offer or contract in relation to the property described in the particulars. Neither Colliers, nor its Directors, employees and agents, have authority to make or give any representation or warranty, express or implied, on behalf of any party in relation to the property. Whilst the particulars are given in good faith, intending purchasers or tenants must satisfy themselves independently as to the accuracy of all matters on which they intend to rely. All negotiations are subject to contract. January 2020. 18
CONTACT
For further information or to arrange a viewing please contact the sole selling agents:
KYLE JOSS JAMES NICHOLLS
+44 (0) 20 7487 1958 +44 (0) 20 7487 1930 +44 (0) 7712 241 851 +44 (0) 7566 289 790
E: [email protected] E: [email protected]
JULIAN MEIR JACK HARRISON
+44 (0) 20 7344 6647 +44 (0) 20 7344 6724 +44 (0) 7928 654 929 +44 (0) 07720 073 231
E: [email protected] E: [email protected]
SHAMAN CHELLARAM
+852 9815 7459
PAUL STREET LONDON EC2