Office for sale

John Street, London, WC1

Under Offer £1,400,000
1,500 sq. ft.

Property Description

Commercial information

  • 1,500 sq ft (139 sq m)
  • Use class orders: B1 Business

Full description

Tenure: Leasehold

Investment Profile:
The investment available is on the ground floor of a period Grade II listed building, located on John Street, Bloomsbury, 0.5 miles from Russell Square Station (Piccadilly Line) and 0.6 miles from Holborn Station (Central and Piccadilly Lines).

The space is let to HRA Pharma UK on a lease expiring in December 2019 with a passing rent of 67,500 PA (45.00 per sq. ft.). ERV is 75,000 PA (50 per sq. ft.). The lease is outside the Landlord and Tenant Act and therefore offers good potential for owner-occupation upon expiry of the lease.

Floor Area:
1,500 sq. ft. / 139 sq. m.

Price:
Offers in the region of 1,400,000 for the long leasehold (999 years), which reflects a gross yield of 4.82% or a net initial yield of 4.52% based on purchasing costs at 6.75%.

The ERV reflects a reversionary gross yield of 5.36% or a reversionary net initial yield of 5.02% based on purchasing costs at 6.75%.



More information from this agent

Nearest stations

  • Russell Square (0.4 mi)
  • Chancery Lane (0.4 mi)
  • Holborn (0.4 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 7744 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

  • Russell Square (0.4 mi)
  • Chancery Lane (0.4 mi)
  • Holborn (0.4 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 7744 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.

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