Within a short walk of Lloyds Building, London Bridge and the Tower of London
Tenants include Williams Insurance Group Ltd, Lewtan Technologies Limited and Ukrainian Foods Import Limited
Modern office building totalling 1,081 sq m (11,635 sq ft)
Rent: £250,873 (gross) £113,873 (net)
Lot 4
Auction 29th March 2012
Rent £250,873 per Annum
Status Sold Post
Price
Sector Office
Auction Venue Millennium Hotel 39-44 Grosvenor Square London W1K 2HP
On behalf of R Stokely and R Haines as Joint LPA Receivers, Edward Symmons
Property Information
Location
Miles
0.4 miles south-east of Bank, 0.7 miles south of Liverpool Street 1 mile south-east of Barbican
Roads
A100, A3211
Rail
Monument Underground (Circle, District, Northern and DLR), London Bridge Station, Fenchurch Street Station
Air
London City Airport
Situation
The property is situated on the western side of St Mary Hill, an attractive thoroughfare running between Eastcheap and Lower Thames Street (A3211) in the prestigious financial centre of the City of London. The property is located a short walk from the Lloyds Building, London Bridge and the Tower of London and benefits from excellent travel links with Monument, Tower Hill and Bank Underground Stations and London Fenchurch Street, London Cannon Bridge and London Bridge Railway Stations all being located within close proximity.
Tenure
Long Leasehold. Held for a term of 150 years from 29th September 1985 at a rent of £137,000 per annum reviewable every 5 years to 25% of the market rental value.
Location
Miles
0.4 miles south-east of Bank, 0.7 miles south of Liverpool Street 1 mile south-east of Barbican
Roads
A100, A3211
Rail
Monument Underground (Circle, District, Northern and DLR), London Bridge Station, Fenchurch Street Station
Air
London City Airport
Situation
The property is situated on the western side of St Mary Hill, an attractive thoroughfare running between Eastcheap and Lower Thames Street (A3211) in the prestigious financial centre of the City of London. The property is located a short walk from the Lloyds Building, London Bridge and the Tower of London and benefits from excellent travel links with Monument, Tower Hill and Bank Underground Stations and London Fenchurch Street, London Cannon Bridge and London Bridge Railway Stations all being located within close proximity.
Tenure
Long Leasehold. Held for a term of 150 years from 29th September 1985 at a rent of £137,000 per annum reviewable every 5 years to 25% of the market rental value.
Description
The property comprises a modern office building over lower ground, ground and four upper floors. The property benefits from air conditioning, suspended ceilings and a 10-person passenger lift.
Note
This property is being marketed for sale on behalf of Joint Law of Property Act Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The LPA Receivers are not bound to accept the highest or any offer and are acting without personal liability.
VAT
VAT is applicable to this lot.
Viewings
There will only be block viewings for this property. Interested parties must register their details with the Auctioneers and provide identification on site. Please contact Gwen Thomas. Tel: +44 (0)20 7034 4857.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a modern office building over lower ground, ground and four upper floors. The property benefits from air conditioning, suspended ceilings and a 10-person passenger lift.
Note
This property is being marketed for sale on behalf of Joint Law of Property Act Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The LPA Receivers are not bound to accept the highest or any offer and are acting without personal liability.
VAT
VAT is applicable to this lot.
Viewings
There will only be block viewings for this property. Interested parties must register their details with the Auctioneers and provide identification on site. Please contact Gwen Thomas. Tel: +44 (0)20 7034 4857.
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
(Reversion)
Ground South
Office
78.5 sq m
(845 sq ft)
INDIVIDUALS (t/a Thompson Yates)
4 years from 15/03/2010 (1) (2)
£18,990
(14/03/2014)
Ground North
Office
89.5 sq m
(963 sq ft)
WILLIAMS INSURANCE GROUP LTD
5 years from 19/11/2010 (3) (4)
£26,000
(18/11/2015)
Lower Ground
Office
177.0 sq m
(1,905 sq ft)
VACANT
First
Office
199.0 sq m
(2,142 sq ft)
LAVEROCK VON SCHOULTZ LTD
3 years from 17/11/2009
£57,780
(17/11/2012)
Second
Office
202.5 sq m
(2,180 sq ft)
UKRAINIAN FOODS IMPORT LTD
5 years from 16/03/2011
£54,500
(15/03/2016)
Third
Office
185.0 sq m
(1,991 sq ft)
MYLLYKOSKI SALES LTD
5 years from 01/07/2010 (5) (6)
£47,784
(01/07/2015)
Fourth
Office
149.5 sq m
(1,609 sq ft)
LEWTAN TECHNOLOGIES LTD
5 years from 24/11/2011 (7) (8)
£45,819
(24/11/2016)
Totals
1,081 sq m
(11,635 sq ft)
£250,873
(1) The lease is subject to a schedule of condition. (2) The lease provides a rolling tenant option to determine, subject to 6 months’ notice. (3) The lease is subject to a schedule of condition. (4) The lease provides a tenant option to determine on 19th November 2013 subject to 6 months’ notice. (5) The lease provides a tenant option to determine on 1st July 2013, subject to 6 months’ notice. (6) The lease is subject to a schedule of condition. (7) The lease provides a tenant option to determine on 24th November 2014, subject to 6 months’ notice. (8) The lease is subject to a schedule of condition.
