16 Greville Street, Camden, London EC1N 8SQ

16 GREVILLE STREET, LONDON EC1N 8SQ

LOCATION

Prominently situated in the centre of Greville Street, the property holds a prime retailing position in the heart of world renowned Hatton Garden. Farringdon station (Elizabeth, Circle, Hammersmith & City, Metropolitan lines and Thameslink services) and Chancery Lane station (Central line) are both within a few minutes walk.

DESCRIPTION

Previously owned and occupied by Graff, the Building comprises a five storey, mid terrace commercial property ideal for a prominent HQ for a jewellery business.
The ground floor and basement is currently occupied by a jewellery business (details available on request). Their lease expires on 31st December 2028 and has been granted outside sections 24-28 of the Landlord & Tenant Act and excludes the right to renew.
The passing rent is £110,000 PAX with annual increases on 1st January 2027 and 1st January 2028 in line with upward only CPI , capped at 10% per annum. Subject to agreement, the Tenant has said they are willing to vacate early.
The ground floor is currently arranged as a high end jewellery shop with an imposing marble shop front, ancillary accommodation and garden to the rear.
The lower ground floor is being used by the Tenant for modern jewellery workshops. Pavement lights provide natural light to the front of the floor.
The lower ground floor can be accessed internally from the retail unit, but also from Bleeding Heart Yard to the rear of the Building, therefore offering great flexibility. Thus the lower ground floor which also benefits from a kitchenette and WC offers self contained occupation.
The upper floors are accessed via a fully glazed entrance to the side of the Building with frontage on to Greville Street, and provide accommodation ideal for a modern jewellery business, benefitting from excellent natural light and being fully fitted to a high specification including attractive glazed entrance, high security glass, airlock door system, secure internal door system, pneumatic tube transport system, built in safes, CCTV and air conditioning.

TENANCY INFORMATION

Tenant

Jewellery business (details available on request)

Demise

Ground floor , lower ground floor and yard

Lease/Term

5 years outside L&T Act

Start

1st January 2023

End

31st December 2028

Rent

£110,000 PAX

Rent Review

Annually to higher of passing rent and CPI capped at 10% p.a. increase

Floor Area

Net

Ground 526 sqft
Lower ground 612 sqft
1st floor 481 sqft
2nd floor 470 sqft
3rd floor 491 sqft

TOTAL 2,581 sq ft

Gross

Ground 720 sqft
Lower ground 734 sqft
1st floor 605 sqft
2nd floor 616 sqft
3rd floor 581 sqft

TOTAL 3,256 sq ft

(Measured survey available upon request)

1st, 2nd & 3rd floors are vacant.

ERV of vacant floors £80,000

TOTAL

£110,000 PAX

ERV £190,000 PAX

PLANNING AND DEVELOPMENT

The 3rd floor has a lapsed planning consent for a change of use to residential (2014/4041/P).

TENURE

Freehold.

VAT

The building is not VAT elected and VAT will not be charged on the sale.

EPC

Ground and lower ground floors – upon request

Upper floors - D/80

PRICE

£3,500,000 (THREE MILLION FIVE HUNDRED THOUSANDS POUNDS).

VIEWING
Strictly by appointment with Agents :-
JARVIS KELLER