Turnmill Street, Farringdon, London, EC1M

Development parcel currently extends to approximately 0.12 acres (0.5 ha) and is used as a car park generating a rental income of approximately £120,000 per annum.

Existing planning permission for a new 4 storey office building (Use Class E) providing a total of 10,732sqft GIA.

Planning permission (now lapsed) for a residential scheme has been designed by Hamiltons Architects which shows 6 residential homes (1 x 1 bed, 4 x 2 beds and 1 x 3 beds) extending to 8,975sqft NIA (10,139sqft GIA).

Within a 2 minute walk (0.1 mile) from Farringdon Train Station which offers services via the London Underground, the Elizabeth Line and National Rail.

Unconditional offers invited for the freehold interest

Positioned in the heart of Farringdon, Turks Head Yard embodies an exciting opportunity for a unique development, set back from the hustle and bustle of the City life. Farringdon itself is nestled between Holborn, Barbican, Clerkenwell and The City, and is a popular destination for commuters and visitors alike. It is now recognised as a burgeoning food and drink district, with many popular cafes, restaurants and bars nearby, as well as the infamous Smithfield Market.

There are a number of prestigious universities within close proximity, including University College London, London School of Economic and Imperial College London all of which rank amongst the best universities globally.

Commercially, the location historically favoured by the Technology, Media and Telecom sector (TMT) , however the arrival of the Elizabeth Line and subsequent maturity of the area has opened the sub-market to a more diverse occupier base. Whilst demand from the TMT sector remains, this is now supported by occupiers within the Professional, Financial and Corporate sectors, all of whom have historically preferred more traditional sub-market locations.

The site itself is found to the East of the Turnmill Street, surrounded by office buildings to the East, South and West, with residential homes and associated courtyard to the north behind a dividing wall. Majority of the neighbouring buildings are between 3-5 storeys. The property sits within the jurisdiction of the London Borough of Islington and is not found within a conservation area.