The Engineering Faculty, University College London 66 - 72 (even numbers) Gower Street London WC1H 8AP

The Engineering Faculty, University College London
66 - 72 (even numbers) Gower Street
London
WC1H 8AP

Highly Reversionary Leasehold Investment in London’s Bloomsbury

Entirely let to University College London - a world renowned University
Significant Rent Review in June 2022 - Current rent equates to c.£25 psf (agreed in 2008)
Asset Management Opportunities
Substantial office building comprising approximately 19,887 sq ft
Central London location close to The British Museum and The Institute for Fiscal Studies

Lot
16
Auction
13th July 2017
Rent
Gross: £513,000 per Annum Exclusive
Status
Sold
Price
£4,675,000
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG
On the Instructions of LaSalle Investment Management

Important Update Interested?

Expand
Photos
Map

Highly Reversionary Leasehold Investment in London’s Bloomsbury

Entirely let to University College London - a world renowned University
Significant Rent Review in June 2022 - Current rent equates to c.£25 psf (agreed in 2008)
Asset Management Opportunities
Substantial office building comprising approximately 19,887 sq ft
Central London location close to The British Museum and The Institute for Fiscal Studies

Lot 16
Auction 13th July 2017
Rent Gross: £513,000 per Annum Exclusive
Status Sold
Price £4,675,000
Sector
Office
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG
On the Instructions of LaSalle Investment Management

Property Information

Location

Miles: 0.4 miles to Russell Square, 0.8 miles to Regent’s Park
Roads: A400 (Gower Street), A501 (Euston Road)
Rail: 500m from Euston Square Underground Station

Situation

The property, located in Bloomsbury, is situated on the eastern side of Gower Street, close to Torrrington Street, adjacent to the Royal Academy of Art, with the central University of London campus to the rear. The property is located in a sought after central London location, a short walk from Goodge Street, Great Russell Street and Tottenham Court Road. Nearby occupiers include University College Hospital, The London School of Business & Management, Institute for Fiscal Studies, Hong Kong Economic and Trade Office, The University of Law and Bloomsbury Publishing. A number of hotels are located opposite the property and Euston, Euston Square, Warren Street and Goodge Street Underground Stations are located close by.

Tenure

Leasehold. Held leasehold for a term of approximately 80 years from 29th September 1947 until 17th June 2028 at a fixed rent of £325 per annum. The freeholder is The University of London.

Location

Miles: 0.4 miles to Russell Square, 0.8 miles to Regent’s Park
Roads: A400 (Gower Street), A501 (Euston Road)
Rail: 500m from Euston Square Underground Station

Situation

Tenure

Leasehold. Held leasehold for a term of approximately 80 years from 29th September 1947 until 17th June 2028 at a fixed rent of £325 per annum. The freeholder is The University of London.

Description

The property houses the Engineering Faculty of University College London and is arranged over ground, lower ground, first, second, third, fourth and fifth floors.

VAT

VAT is not applicable to this lot.

Completion Period

Six Week Completion

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

The property houses the Engineering Faculty of University College London and is arranged over ground, lower ground, first, second, third, fourth and fifth floors.

VAT

VAT is not applicable to this lot.

Completion Period

Six Week Completion

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Review
Ground Lower Ground First Second Third Fourth Fifth	Education Education Education Education Education Education Education	271.93 sq m 228.45 sq m 274.06 sq m 274.06 sq m 273.60 sq m 271.83 sq m 253.63 sq m	(2,927 sq ft) (2,459 sq ft) (2,950 sq ft) (2,950 sq ft) (2,945 sq ft) (2,926 sq ft) (2,730 sq ft)	UNIVERSITY COLLEGE LONDON (1)	Approximately 62 years from 29/06/1966 until 16/06/2028 on a full repairing and insuring lease	£513,000 (equates to c.£25 psf)	29/06/2022
Totals		1,847.56 sq m	(19,887 sq ft)			£513,000

(1) Founded in the heart of London in 1826, UCL is one of the world's leading universities and is known as London's leading multidisciplinary university, with more than 11,000 staff and 38,000 students from 150 different countries (Source: www.ucl.ac.uk 14/06/2017).

Contacts

Acuitus

David Margolis +44 (0)20 7034 4862 +44 (0)7930 484 440david.margolis@acuitus.co.uk

Seller's Solicitors

Atlantic House, Holborn Viaduct
London
EC1A 2FG

Jessica Hickson 0207 296 2000jessica.hickson@hoganlovells.com

Useful Links

Acuitus Finance

Stuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk

Property Insurance

Natasha Ward+44 (0)20 3159 4314+44 (0)7545 208 759natashaw@aquillaib.co.uk