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1-2 Hardwick Street, Clerkenwell, EC1R 4RB

Offers in Excess of
£19,450,000

£999.69 per sq. ft.

Business rates & charges may apply

Compton, London
SIZE AVAILABLE

19,456 sq. ft.

(1,808 sq. m.)

SECTOR

Office for sale

Key features

  • Freehold
  • Majority refurbished 2017-18 to provide 19,456 Ft² of high quality, warehouse-style offices
  • Multi-let at a passing rent of £1,220,225 /A reflecting £57.58 /Ft² overall
  • WAULT of 2.62 years to expiry (1.90 years to breaks)
  • Significant landlord control with over 75% of the income contracted outside the LTA 1954
  • Attractive NIY of 5.40% vs. prime Farringdon yields of 4.00%
  • OIEO £19,450,000 (£999 /Ft²)

Property description

Description
1-2 Hardwick Street is a striking former Victorian warehouse providing 19,456 Ft² of creative media style offices spread across LG, Ground-4th floors.

The Ground & Lower Ground floors are a self-contained duplex with the benefit from their own front door directly on the corner of the building where Amwell Street meets Hardwick Street. The internal demise includes an interconnecting staircase linking both of the floors together.

The main upper parts entrance is accessed from Hardwick Street, where there is an entrance lobby and passenger lift that serves all of the levels.

The building also provides a service yard / vehicle access from Hardwick Street, together with cycle storage.

The 4th floor boasts its very own private roof terrace, that enjoys some sensational views across Central London.

The property is fully multi-let to three different tenants producing an income of £1,220,225 /A reflecting £57.58 /Ft² overall.

Location
1-2 Hardwick Street occupies a prominent corner position on the junction of Hardwick and Amwell Street. This desirable location is within 150 metres of the bustling Exmouth Market and a short walk from a number of Central London’s main transport hubs.

One of Central London’s most vibrant and diverse sub-markets - home to prestigious corporate occupiers, fashionable residential schemes, boutique hotels and high-class restaurants

Hardwick Street is situated in a diverse and exciting pocket of vibrant Clerkenwell and a short distance south of popular Angel and forward-thinking King’s Cross.

Clerkenwell is one of Central London’s most fashionable office districts and is at the centre of the city’s rapidly expanding tech sector. The area is known for its diverse office stock including the much sought-after warehouse office accommodation loved by the growing creative, fashion and tech sectors.

Some of the world’s brightest and most innovative businesses have chosen Clerkenwell for their headquarters. A diverse list of global businesses has moved within, or to the area in recent years, the most notable being LinkedIn (Microsoft), Alexander McQueen, LiveNation (Ticketmaster), Unilever and Fred Perry.

The attraction of Clerkenwell is underpinned by excellent amenities with a diverse retail, leisure and restaurant offering. Exmouth Market has become one of London’s premier daily food markets providing office workers with an unparalleled choice of cuisines.

Terms
Seeking offers in excess of £19,450,000 (£999 /Ft²) reflecting a NIY of 5.40% (assuming purchaser costs of 6.67%)

Specifications
Refurbished reception area
VRF air conditioning
Fully accessible raised floors
High floor to ceiling heights throughout
Exposed brickwork & structural columns
Newly refurbished WCs
Secure cycle storage
Shower and locker facilities
Passenger lift
Service yard off Hardwick Street
Private 4th floor roof terrace

VAT
1-2 Hardwick Street is elected for VAT and it is anticipated that the transaction with be treated as a Transfer of Going Concern (TOGC)

Local Authority
Located in the London Borough of Islington

Conservation Area
1-2 Hardwick Street is NOT Listed, but lies within the Rosebery Avenue Conservation Area

Tenure
Freehold

Brochures

1-2 Hardwick Street, Clerkenwell, EC1R 4RB

NEAREST STATIONS

Distances are straight line measurements from the centre of the postcode
  • Angel Station0.4 miles
  • Farringdon Station0.5 miles
  • Kings Cross Thameslink Station0.5 miles

Notes

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Disclaimer - Property reference 64948-1. 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 Compton, 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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