Comprises Self Contained Retail Unit with 7 Floors of Office Suites
Historic City of London Location
Multi Let Office Building with Active Management Potential for Serviced Offices
Opposite The Walkie Talkie Building and Sky Garden
300m from Monument, Close to Bank of England and The Tower of London
200m from Fenchurch Street Crossrail Station
Lot 21
Auction 3rd November 2022
Rent Gross: £187,600 per Annum Exclusive Net: £80,600 With 3 Floors to be Let
Status Sold Prior
Price
Sector Office
Auction Venue Live Streamed Auction
Property Information
Location
Miles
500 metres from the Bank of England
Roads
A10, A1213
Rail
Bank and Monument Underground (Central, Waterloo & City, Northern, District & Circle lines), Cannon Street (Southeastern, Circle, District), Liverpool Street station (Circle Line, the Central Line, the Hammersmith & City Line and the Metropolitan Line), Fenchurch Street Railway station (Crossrail)
Air
London City Airport, London Heathrow Airport
Situation
The property is located in the heart of the City of London on the north side of Fenchurch Street and directly opposite the landmark Walkie Talkie skyscraper and 200 metres South of The city of London Tower cluster with Landmark buildings including the Gherkin, The Cheesegrater, Tower 42 and 22 Bishopsgate. The City of London is the UK's and Europe's premier financial district with Major occupiers including The Royal Bank of Scotland, AXA UK, HSBC, Lloyds bank, Allianz, Accenture and Zurich.
Tenure
Leasehold. Held from The Wardens and Commonalty of The Mystery of Goldsmiths Of The City Of London for a term of 99 years from 29th September 1973 at a current rent reserved of £107,000 per annum exclusive.
The head rent is subject to a rent review geared to 50% of the estimated rental value on 29th September 2025 and 7 Yearly thereafter.
Location
Miles
500 metres from the Bank of England
Roads
A10, A1213
Rail
Bank and Monument Underground (Central, Waterloo & City, Northern, District & Circle lines), Cannon Street (Southeastern, Circle, District), Liverpool Street station (Circle Line, the Central Line, the Hammersmith & City Line and the Metropolitan Line), Fenchurch Street Railway station (Crossrail)
Air
London City Airport, London Heathrow Airport
Situation
The property is located in the heart of the City of London on the north side of Fenchurch Street and directly opposite the landmark Walkie Talkie skyscraper and 200 metres South of The city of London Tower cluster with Landmark buildings including the Gherkin, The Cheesegrater, Tower 42 and 22 Bishopsgate. The City of London is the UK's and Europe's premier financial district with Major occupiers including The Royal Bank of Scotland, AXA UK, HSBC, Lloyds bank, Allianz, Accenture and Zurich.
Tenure
Leasehold. Held from The Wardens and Commonalty of The Mystery of Goldsmiths Of The City Of London for a term of 99 years from 29th September 1973 at a current rent reserved of £107,000 per annum exclusive.
The head rent is subject to a rent review geared to 50% of the estimated rental value on 29th September 2025 and 7 Yearly thereafter.
Description
The property is an office building with a self contained retail unit on the ground floor and basement and individual office suites on each of the 7 upper floors that benefit from comfort cooling, suspended ceilings and a passenger lift. The office reception area has been recently refurbished. The retail unit is currently used as a barber shop on the ground floor and a bar in the basement.
VAT
VAT is 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 is an office building with a self contained retail unit on the ground floor and basement and individual office suites on each of the 7 upper floors that benefit from comfort cooling, suspended ceilings and a passenger lift. The office reception area has been recently refurbished. The retail unit is currently used as a barber shop on the ground floor and a bar in the basement.
VAT
VAT is 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 sq m)
Floor Areas (Approx sq ft)
Tenant
Term
Rent p.a
Reviews/(Reversions)
Ground Basement
Retail Bar
17.10 47.83
(184) (514)
BOLATTI LONDON (CRN 7991787) t/a Bolatti Barbers (Ground) and The Gobspy Bar (Basement) (2)
10 years from 21st May 2012
£53,000
Holding over
Ground
Office
65.00
(699)
HORNER BLAKEY LTD (CRN 05630996) (3)
Licence agreement from 30/04/2020 until 29/04/2023
£26,000
(29/04/2023)
First
Office
102.30
(1,101)
SENATOR I SERVICES LTD (CRN 04566666) (4)
Licence agreement from 12/09/2022 until 31/12//2024
£35,000
Second
Office
50.30
(541)
ROSS GOWER LTD (CRN 02335340) (5)
3 years from 25/12/2020
£25,000
(24/12/203)
Third
Office
50.30
(541)
VACANT POSSESSION
Fourth
Office
50.30
(541)
VACANT POSSESSION
Fifth
Office
50.30
(541)
PRO ECUADOR (6)
2 Years from 1st October 2020
£24,600
(30/09/2022)
Sixth
Office
50.30
(541)
VACANT POSSESSION
Seventh
Office
48.10
(517)
OSTROUMOFF LIMITED (CRN 06748410) (7)
Licence agreement from 01/11/15
£24,000
Holding Over
Total Approximate Floor Area
531.83
(5,720) (1)
£187,600
(1) The floor areas stated above are those published by the Valuation Office Agency (www.voa.gov.uk). (2) Bolatti London Limited (CRN 7991787) formally Hoffi Barbers Limited were incorporated in March 2012. (3) Horner Blakey Limited (CRN 05630996) were incorporated in November 2005. The Seller is holding a deposit of £3,123. (4) Senator I Services Limited (CRN 04566666) were incorporated in October 2002. The licence agreement provides for the licence fee for the first 4 months to be reduced by 50%. (5) Ross Gower Limited (CRN 02335340) were incorporated in January 1989. (6) As to the 5th floor the tenant is Pro Ecudaor Institute and Investment Promotion c/o Commercial Section of the Embassy of Ecuador. (7) Ostroumoff Limited (CRN 06748410) was incorporated in November 2008.
If you are the successful bidder, Acuitus requires a separate payment of £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.
