Office for sale

Wharf Road, London, N1

Sold STC 2,592 sq. ft. | £1,550,000

Property Description

Commercial information

  • 2,592 sq ft (240 sq m)
  • Use class orders: B1 Business

Full description

Tenure: Leasehold

Units 26-27 Waterside, 44-48 Wharf Road, London N1.

(May suit owner occupier as vacant possession available from November, 2017).

The subject property is located in a converted Grade II Listed building, built originally as a factory warehouse, on the east side of Wharf Road adjacent to Wenlock Basin (part of Regents Canal). Wharf Road is just off City Road and within easy walking distance of both Old Street and Angel Underground Stations.

The building was built in c. 1990 and comprises mainly the ground, first and second floors. The development has approximately 35 units in total and is split into four sections.

The available property comprises of two self-contained units on the second floor each with bathroom and kitchenette facilities, with the possibility of being interconnected. Both units overlook the Canal Basin and Unit 27 also overlooks the central courtyard. The units are currently fitted and used as offices with wooden flooring, perimeter trunking and recessed lighting throughout. The space benefits from a particularly high ceiling height of 3.5 metres. Unit 27 is mainly open plan with two large meeting rooms and Unit 26 is completely open plan.

Unit 26 Net Internal Area 1,073 sq. ft. (100 sq. m.)
Unit 27 Net Internal Area 1,519 sq. ft. (141 sq. m.)
Total Net Internal Area 2,592 sq. ft. (241 sq. m.)

Unit 26 is let to Translate Plus Limited on a 5 year lease from 20 July, 2011 at a passing rent of 28,000 per annum (approx. 26 per sq. ft.) Unit 27 is let to Artis Education Limited on a 4 year lease from 22 November, 2013 at a current passing rent of 40,000 per annum (approx. 26 per sq ft).

Both leases are outside the Landlord & Tenant Act and therefore provide an opportunity for an owner occupier to take vacant possession from the 21 July, 2016 and the 23 November, 2017 for units 26 and 27 respectively.

Market Rent
We consider the current passing rent to be below the market level and propose a rent more in line with 45 per sq. ft.

Tenure
Held by way of long leasehold with 96 years remaining at a peppercorn rent.

Price
Offers in the region of 1,550,000 for long leasehold purchase (597 per sq. ft.)

Service Charge
Approximately 6.00 per sq. ft.

Business Rates
TBC

Energy Rating
Rating G

Legal Costs
Each party to bear their own legal costs.







More information from this agent

Energy Performance Certificates (EPCs)

Nearest stations

  • Angel (0.4 mi)
  • Old Street (0.6 mi)
  • Essex Road (0.6 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Mann Smith & Partners, London

49 Whitehall, London, SW1A 2BX

020 8012 4995 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Map & Street View

Nearest stations

  • Angel (0.4 mi)
  • Old Street (0.6 mi)
  • Essex Road (0.6 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Mann Smith & Partners, London

49 Whitehall, London, SW1A 2BX

020 8012 4995 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Disclaimer - Property reference Waterside. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Mann Smith & Partners, London. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.

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