London Ec1v 9Le 325-327 Old Street, London Ec1v 9Le 2

LONDON EC1V 9LE 325-327 OLD STREET, LONDON EC1V 9LE 2

INVESTMENT SUMMARY

• Located in Old Street, within the heart of Shoreditch Triangle one of London’s fastest growing and most dynamic sub markets

• Situated less than 0.3 miles from Old Street Station (Northern Line) and 0.55 miles from Liverpool Street Station, a key interchange on the Crossrail network

• The property comprises commercial accommodation at lower ground, ground, with ancillary and 2 upper floors benefitting from D1 use

• Freehold

• The property has been held in the same ownership for the last 35 years

• The building provides a total area of 1,759 sq ft

• Opportunity to increase the massing through redevelopment in the future, subject to obtaining the necessary planning consent

• The entire property is let to T/A Central London Osteopathy and Sports Injury Clinic, expiring December 2033 producing a current rent of £95,000 pa

• Fixed uplift to a minimum of £105,000 per annum in December 2023

• The tenant has been in occupation for over 17 years

• Seeking offers in excess of £1,750,000 reflecting a net initial yield of 5.11% & a low capital value of £995 per sq ft overall OLD HAC SHOREDITCH SPITALFIELDS SHOREDITCH LIVERPOOL 22 FINSBURY ARTILLERY HIGH STREET BOX PARK MARKET HIGH STREET STREET BISHOPSGATE SHOREDITCH SQUARE MOORGATE GROUNDS OLD STREET CLERKENWELL

HOXTON SQUARE 325-327 OLD STREET, LONDON EC1V 9LE 4

LOCATION

Old Street and the surrounding area is located in one of the most vibrant and fashionable mixed use districts in Central London and is home to the third largest cluster of technology companies in the world.

The area has become one of London’s most exciting and cosmopolitan destinations over the last ten years and has gained an international reputation. The area is now home to some of the best restaurants, bars, shops and hotels in London, serving an increasingly affluent population with operators of both independent and global status.

In recent years, many technology companies have relocated from traditional West End & City locations to the immediate vicincity that now include Google, Mind Candy, Turner, Amazon, Airbnb, Soundcloud, Cisco, Trip Advisor & Adobe. In addition, several game and app developers, including Sports Interactive have based themselves in the vicinity.

Old Street roundabout and station is about to undergo a £50 Million regeneration to dramatically enhance the experience for commuters. This is will include an attractive new pedestrianised public space, including seating and landscape gardens. New cycle lanes and two way traffic will be introduced to provide easy access to Tech City, the hub to thousands of creative occupiers and residents. Highly visible advertising space, similar to New York’s Time Square will brighten up the roundabout.

CGI of Old Street regeneration 325-327 OLD STREET, LONDON EC1V 9LE 5

SITUATION

325 Old Street is situated within the Heart of the “Shoreditch Triangle” close to Old Street’s junction with Curtain Road.

The property is surrounded by numerous bars & restaurants along with office & residential accommodation alike. This eclectic mix has created a unique location for the property within the heart of Shoreditch & Old Street.

To the rear of the subject property lies Hoxton Square thought to be one of the oldest squares in the capital, which provides a host of restaurants & bars as well as newly constructed residential & office developments. Furthermore, it is home to events including the annual Hackney Village Fayre.

Hotel and restaurant occupiers in the area include Ceviche, Enoteca Da Luca, Bone Daddies, Honest Burger, Shoreditch Grind, The Nobu Hotel, Ace Hotel, The Courthouse Hotel, The Hoxton Hotel, Dishoom and Hoi Polloi. The much anticipated Art Otel will be situated within 50 m of the subject property and will become one of London’s most iconic hotel destinations which is due to open in 2023. 325-327 OLD STREET, LONDON EC1V 9LE

HOXTON SQUARE – 120M WALK SHOREDITCH HOUSE – 700M WALK

Shoreditch House has a rooftop pool and restaurant, House Kitchen, Thought to be one of Library, Cowshed spa, House gym and the oldest squares in the 26 bedrooms. Part of the Soho House capital, this grassy patch & Co group, which was founded in of land is an oasis of London in 1995 as a private members’ calm, perfect for club for people in the creative surrounding residents industries. and occupiers. The square provides a host of restaurant and bars and is home to events including the annual Hackney Village Fayre.

SPITALFIELDS MARKET – 1000M WALK

A covered market in Spitalfields, London. There has been a market on the site for over 350 BOXPARK – 700M WALK years. In 2005, a regeneration programme resulted in the BOXPARK is a truly treasured spot new public spaces: Bishops in Shoreditch, housing 60 shipping Square and Crispin Place, which containers converted for use as are now part of the modern shops and restaurants, offering Spitalfields Market. one of the most unique shopping experiences in London. Once stacked with fruit and veg stalls to rival that of Covent Roger Wade, creator of Boxfresh, Garden, today Spitalfields devised the concept of refitting and Market is a style destination, repurposing shipping containers with 7 days of food, fashion to deliver an independent and and crafts bringing in 40,000 revolutionised retail experience. visitors per week. 325-327 OLD STREET, LONDON EC1V 9LE 7

LOCAL DEVELOPMENTS & AMENITIES

HOTELS REDCHURCH STREET

SHEPHERDESS WALK HOXTON 1 The Hoxton 1 Sweaty Betty

2 Nobu Hotel 2 Cecconi’s Italian CITY ROAD 3 Shoreditch House 3 APC Homme and Femme

EAST ROAD 4 4 Apex Hotel Aimé

5 South Place Hotel 5 J Crew

GOSWELL ROAD

6 6

Ace Hotel Aesop

SHOREDITCH HIGH STREET BATH STREET 3 7 Art Otel Site 7 Modern Society

OLD STREET 6

CURTAIN ROAD

5 8

7 5 RESTAURANTS/BARS/CAFES MISC

3 6 4 GREAT EASTERN STREET

OLD STREET 1 1 Boxpark 1 Finsbury Square FARRINGDON ROAD 7 6 7 5

6 2 REDCHURCH STREET

OLD STREET 2 Flight Club 2 Bunhill Fields

4 3 1 2

BUNHILL ROW

3 3 BETHNAL GREEN RD Bounce Gym Box

9 1 3

4 4 4 Trapeze Bar Barry’s Bootcamp

CITY ROAD

GOSWELL ROAD 5 Shoreditch Grind 5 Chrome Yoga

SHOREDITCH

FARRINGDON

10 2 HIGH STREET

6 6

Blue’s Kitchen Psycle

GRAY’S INN ROAD 1 7 7 White Collar Factory Broadgate Circle

8 The Diner 8 Spitalfields Market

FARRINGDON ROAD

BARBICAN NORTON FOLGATE

9 The Jugged Hare 9 Tea Building

5 10 Finch’s pub CHANCERY MOORGATE

LANE

MOORGATE LIVERPOOL

STREET

LONDON WALL

NEW BRIDGE STREET

NEWGATE STREET 4

BISHOPSGATE

ST PAUL’S

BLACKFRIARS BRIDGE

GRACECHURCH STREET

325-327 OLD STREET, LONDON EC1V 9LE 8

COMMUNICATIONS ELIZABETH LINE (CROSSRAIL)

The property benefits from excellent transport connections. Crossrail (‘The Elizabeth Line’) is Europe’s largest infrastructure project and is due The following stations are situated within a short walking distance. to open in Autumn 2021. The Crossrail entrance at Liverpool Street is approximately 900m from the property and is set to provide access to Elizabeth Line services.

HOXTON 9 mins SHOREDITCH HIGH STREET 8 mins

OLD STREET LONDON EC1V 9LE 6 mins

LIVERPOOL STREET 13 mins

MOORGATE 16 mins

Travel time in minutes

STRATFORD

33 10 7 4 2 2

HEATHROW PADDINGTON BOND TOTTENHAM FARRINGDON LIVERPOOL WHITECHAPEL (AIRPORT) STREET COURT ROAD STREET 6

CANARY WHARF 325-327 OLD STREET, LONDON EC1V 9LE 9

DESCRIPTION

325 Old Street comprises a lower ground, ground, first and second floor commercial property providing excellent frontage onto Old Street.

There is an internal staircase linking the ground floor to the upper floors.

Internally the property has been fitted out in keeping with the tenant’s business operation of a chiropractor clinic with separate treatment rooms as well as a ground floor reception & waiting room area.

The front of building is home to a mural by the world famous French artist Thierry Noir, the first street artist to paint the Berlin Wall and synonymous for his drawings & murals in Shoreditch and throughout the world. 325-327 OLD STREET, LONDON EC1V 9LE 10

ACCOMMODATION

The property provides the following net internal floor areas:

FLOOR SQ FT SQ M Lower Ground 225 20.9 Ground 637 59.2 1st 432 40.1 2nd 485 45.1 TOTAL 1,779 165.3

LOWER GROUND FLOOR GROUND FLOOR FIRST FLOOR SECOND FLOOR

OLD STREET OLD STREET OLD STREET OLD STREET

Basement Plan not to scale. For indicative purposes only.

0 1 2 3 4 5 M 0 1 2 3 4 5 M 0 1 2 3 4 5 M 0 1 2 3 4 5 M 325 - 327 Old Street 21.5 m² (231 ft²) Basement Commercial325 Premises - 327 Old Street 65.8 m² (708 ft²) Ground1-435/ Floor325 667Commercial - Premises327 Old Street 43.3 m² (466 ft²) First Floor1-435/ Commercial325668 Premises- 327 Old Street 18.6 m² (200 ft²) Second1-435/ Floor Commercial669 Premises 1-435/670

This drawing is for indicative purposes only to show general layout. Do not scale or take dimensions This drawing is for indicative purposes only to show general layout. Do not scale or take dimensions This drawing is for indicative purposes only to show general layout. Do not scale or take dimensions This drawing is for indicative purposes only to show general layout. Do not scale or take dimensions Basement GA PLAN from drawings. Ground Floor GA PLAN 1:100@A4 from26/06/2012 drawings. First Floor GA PLAN 1:100@A4 from drawings.26/06/2012 Second Floor GA PLAN 1:100@A4 from drawings.26/06/2012 1:100@A4 26/06/2012

Drawn by: KG Drawn by: KG Drawn by: KG Drawn by: KG 325/327 Old Street London EC1V 9LE

325-327 OLD STREET, LONDON EC1V 9LE 11 Plan not to scale. For indicative purposes only.

TENURE

The property is held freehold under title number EGL322534

TENANCY

The property is let in accordance with the tenancy information below. As part of the agreement at the previous rent review there are stepped rental increases rising to £75,000 pa in Dec 20, £85,000 pa in Dec 2021 & £95,000 pa in Dec 2022.

Ordnance Survey © Crown Copyright 2020. All Rights Reserved. Licence number 100022432 The tenant has been in occupation for over 17 years. The Vendor will top up the rent Plotted Scale - 1:750. Paper Size - A4 to £95,000, in line with the Dec 22 increase, upon completion. At rent review in Dec 23 the rent will rise to the higher of £105,000 per annum or open market rental value.

FLOOR USE AREA TENANT LEASE START LEASE EXPIRY RENT REVIEW RENT PA RENT PSF COMMENTS

Whole D1 1,779 T/A Central London 22nd Oct 2012 19th Dec 2033 20th Dec 2023 £95,000 £53.40 Stepped rent rising to £75,000 pa in Dec 20 Osteopathy and £85,000 pa in Dec 21 and £95,000 in Dec 22. Sports Injury Clinic Minimum uplift to higher of £105,000 per annum and open market rent in Dec 23 325-327 OLD STREET, LONDON EC1V 9LE 12

INVESTMENT COMPARABLES

PROPERTY DATE PRICE RENT NET INITIAL £PSF

140 Shoreditch High Street, EC2 Jan-20 £5,350,000 £200,000 3.50% £1,133

36 Redchurch Street, E2 Nov-19 £1,610,000 VP £1,133

5-6 Charlotte Road. EC2 Mar-19 £2,850,000 VP £1,117

307 Old Street, EC1 Jun-18 £1,400,000 £67,40 0 4.54% £891

331 Old Street, EC1 Mar18 £3,250,000 £170,250 4.25% £952

RETAIL COMPARABLES

PROPERTY TRANSACTION TYPE DATE AREA RENT PA RENT ITZA

372 Old Street, EC1 Lease Expiry Oct-19 820 £50,000 £150.00

67 Charlotte Road, EC2 Open Market Letting Mar-19 443 £43,000 £111.11

309 Old Street, EC1 Open Market Letting Aug-18 461 £45,000 £116.00

297 Old Street, EC1 Open Market Letting Feb-17 326 £66,551 £144.93

VAT EPC

The property is not elected for VAT and therefore no VAT will be Copies of the EPCs are available upon request. applicable to the purchase price. 325-327 OLD STREET, LONDON EC1V 9LE

FURTHER INFORMATION

PROPOSAL INVESTMENT CONSIDERATIONS

Seeking offers in excess of £1,750,000, subject to • Located in Old Street, within the heart of Shoreditch • The tenant has been in occupation for over 17 years contract, for the benefit of the freehold interest. • Property comprises retail at lower ground, ground, • Opportunity to increase the massing through A purchase at this level reflects a net initial yield with ancillary accommodation in the 2 upper floors redevelopment in the future, subject to obtaining of 5.11%, after allowing for adjusted purchaser’s the necessary planning consent. costs of 6.20%. • Freehold • The entire property is let to T/A Central • The property has been held in the same ownership London Osteopathy and Sports Injury Clinic, for the last 35 years expiring December 2033 producing a current rent of £95,000 pa • The building provides a total area of 1,759 sq ft

• Fixed uplift to a minimum of £105,000 per annum in December 2023

CONTACT

Jamie Baruch Henry Leighton Stephen Gevertz Connal Harper DD 0203 903 7310 DD 0203 904 1497 T 0207 580 4333 T 0207 580 4333 M 07889 085 112 M 07793 726 286 M 07879 628 646 M 07817 169 474 E [email protected] E [email protected] E [email protected] E [email protected]

MISREPRESENTATION ACT 1967. Tydus Real Estate and Lewis & Partners for themselves and for the vendors or lessors of the property whose agents they are give notice that: (i) these particulars are given without responsibility of Tydus Real Estate and Lewis & Parnters or the vendors or lessors as a general outline only for the guidance of prospective purchasers or tenants, and do not constitute the whole or any part of an offer or contract; (ii) Tydus Real Estate or Lewis & Partners cannot guarantee the accuracy of any descriptions, dimensions, references to condition, necessary permissions for use and occupation and other details contained herein and any prospective purchaser or tenant should not rely on them as statements or representations of fact but must satisfy themselves by inspection or otherwise as to the accuracy of each of them; (iii) no employee of Tydus Real Estate or Lewis & Partners have any authority to make or give any representation or warranty or enter into any contract whatsoever in relation to the property; (iv) VAT may be payable on purchase price and/or rent, all figures are quoted exclusive of VAT, intending purchasers or lessees must satisfy themselves as to the applicable VAT position, if necessary by taking appropriate professional advice; (v) except in respect of death or personal injury caused by the negligence of Tydus Real Estate or Lewis & Partners, its employees or servants, Tydus Real Estate or Lewis & Partners will not be liable, whether in negligence or otherwise howsoever, for any loss arising from the use of these particulars save to the extent that any statement made in these particulars has been made fraudulently. March 2020. Designed by Studio185 studio185.london | 117a