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14 Clerkenwell Close, London, EC1, EC1R

For sale: £8,955,000.00|8,695 Sq Ft|Office, Offices

Property details

FOR SALE£8,955,000.00
SIZE8,695 Sq Ft
ADDRESS14 Clerkenwell Close, London, EC1, EC1R
TYPEOffice, Offices
TENUREInvestment Opportunity
POSTED ON24th September 2021

Description

Prime freehold opportunity located at the heart of Farringdon. - The property was comprehensively refurbished in 2020 to comprise self-contained office and ancillary accommodation arranged over lower ground, ground and three upper floors totalling 8,695 sq ft with a unique communal roof terrace. The office floor plates are regular in shape and benefit from exceptional levels of natural daylight to all elevations.

The property is multi-let to three occupiers let to three office occupiers at a rent of £478,120.50 per annum, reflecting a rent of approximately £54.99 per sq ft overall. The income provides a WAULT of 6.7 years to expiries and 3.5 years to break.

Offers are invited in excess of £9,140,000 subject to contract and exclusive of VAT. Pricing at this level reflects a net initial yield of 4.90% (assuming purchaser's costs of 6.69%) and a capital value of £1,051 per sq ft.

Location

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Location: 14 Clerkenwell Close, London, EC1, EC1R

Farringdon (0.2 miles)

Barbican (0.4 miles)

Chancery Lane (0.5 miles)

Farringdon (0.2 miles)

Farringdon Rail (0.2 miles)

Barbican (0.4 miles)

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