Self-contained offices with direct entrance from the street
Prominent Central London location
Residential conversion potential (subject to consents)
100 metres from Great Ormond Street Hospital
Within walking distance from Holborn and Tottenham Court Road (Crossrail) Stations
Lot 22
Auction 14th February 2019
Rent £85,437 per Annum Exclusive
Status Sold Post
Price
Sector Office
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
400 metres east of the British Museum, 400 metres west of Gray’s Inn, 0.6 miles to Covent Garden, 1.5 miles to Regent’s Park
Roads
A40, A501, A1, M1
Rail
Russell Square (Piccadilly), Holborn (Piccadilly, Central), Tottenham Court Road (Central, Northern), Euston Railway Station, King’s Cross St. Pancras
Air
London City, London Gatwick, London Heathrow, London Stansted
Situation
The property is situated on a prominent corner on New North Street, approximately 100 metres south of the world renowned Great Ormond Street Hospital and approximately 450 metres north of Holborn Underground Station (Central, Piccadilly). Gray’s Inn, the centre of the legal profession, is some 400 metres to the east. Major office occupiers close by include Media Com, Warner Bros and Unite.
Tenure
Long Leasehold. Held for a term of 125 years from May 1998 at a fixed peppercorn rent.
Location
Miles
400 metres east of the British Museum, 400 metres west of Gray’s Inn, 0.6 miles to Covent Garden, 1.5 miles to Regent’s Park
Roads
A40, A501, A1, M1
Rail
Russell Square (Piccadilly), Holborn (Piccadilly, Central), Tottenham Court Road (Central, Northern), Euston Railway Station, King’s Cross St. Pancras
Air
London City, London Gatwick, London Heathrow, London Stansted
Situation
The property is situated on a prominent corner on New North Street, approximately 100 metres south of the world renowned Great Ormond Street Hospital and approximately 450 metres north of Holborn Underground Station (Central, Piccadilly). Gray’s Inn, the centre of the legal profession, is some 400 metres to the east. Major office occupiers close by include Media Com, Warner Bros and Unite.
Tenure
Long Leasehold. Held for a term of 125 years from May 1998 at a fixed peppercorn rent.
Description
The property comprises a refurbished ‘Loft Style’ self-contained air-conditioned office accommodation on the ground floor and lower ground. The property forms part of a larger period building that has been converted to residential flats.
VAT
VAT is applicable to this lot.
Completion Period
Six Week Completion
EPC
Band D
Description
The property comprises a refurbished ‘Loft Style’ self-contained air-conditioned office accommodation on the ground floor and lower ground. The property forms part of a larger period building that has been converted to residential flats.
VAT
VAT is applicable to this lot.
Completion Period
Six Week Completion
EPC
Band D
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Reversion
Ground Lower Ground
Office Office
57.99 sq m 91.74 sq m
(624 sq ft) (988 sq ft)
DREES & SOMMER UK LIMITED (1)
5 years from 15/04/2018
£85,437
14/04/2023
Totals
149.73 sq m
(1,612 sq ft)
£85,437
(1) Drees & Sommer UK Limited is part of a leading German real estate and consulting practice. The tenant company was incorporated in April 2020 and is rated by Experian as “Very Low Risk”. For the year ending 31st December 2017, Drees & Sommer UK Limited reported a total net worth of £192,669.
