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The Tiller Building, 16 Orsman Road

For sale: £5,500,000.00|14,513 - 38,169 Sq Ft|Other, Other Property Types & Opportunities

Property details

FOR SALE£5,500,000.00
SIZE14,513 - 38,169 Sq Ft
ADDRESSThe Tiller Building, 16 Orsman Road, Haggerston, N1 5QJ
TYPEOther, Other Property Types & Opportunities
TENUREFor Sale Freehold
POSTED ON19th October 2023

Description

Key Points

  • Prime Haggerston development opportunity located on the banks of The Regent’s Canal.
  • Freehold
  • Two adjoining buildings totalling 14,513 sq ft (GIA); 8,842 sq ft (GIA) industrial unit and a 5,671 sq ft (GIA) office space.
  • Existing opportunity: Strip out and refurbish offices space to create large open floor-plates with a view to achieving ERV’s of £20-£25 per sq ft. Light refurbishment on warehouse space and let as a Light Industrial unit with a view to achieve ERV’s of £30-35 per sq ft.
  • Development opportunity: Planning permission has been granted for 38,169 sq ft (3,546 sq m) of grade A office accommodation arranged over six floors. The fifth floor offers a highly desirable roof terrace with views overlooking both the City of London and Regent’s Canal
  • Scheme designed by renowned local architects Waugh Thistleton Architects.
  • Offers are invited in excess of £5,500,000 subject to contract and exclusive of VAT for the freehold development site.
  • A purchase at this level reflects a low capital value of £379 per sq ft of the existing and £144 per sq ft on the proposed.
  • Summary

    Highly sought after freehold development opportunity. Two adjoining buildings totaling 14,513 sq ft (GIA).

    Description

    16 Orsman Road offers an exciting opportunity to develop a new high specification Grade A office building in a prime Haggerston location overlooking the Regent's Canal.

    The 0.22 acre site comprises two buildings providing a combined GIA of c.14,513 sq ft (1,348 sq m) of B1/B1(c) accommodation. Set back from street level, the eastern building is arranged over ground, first and second floors and comprises a GIA of c.5,671 sq ft (527 sq m) of office accommodation. The upper levels provide superb natural light which enters the building from three elevations.

    Accessed via a small reception in the eastern building, the western building is arranged over the ground floor level only and comprises a GIA of 8,842 sq ft (821.50 sq m). Stretching the full depth of the site and overlooking The Regent’s Canal, the western warehouse also benefits from an impressive pitched roof with excellent floor to ceiling heights.

    Location

    16 Orsman Road is situated on the northern side of Orsman Road in a prominent position fronting the popular Regent’s Canal.

    Orsman Road is an important thoroughfare connecting Kingsland Road to the east and Whitmore Road to the west. The road benefits from an eclectic range of occupiers and amenities including local pubs and restaurants. Orsman Road is set to further be enhanced by the opening of Storey, British Land’s newest serviced office location.

    Location

    marker
    Location: The Tiller Building, 16 Orsman Road, Haggerston, N1 5QJ

    Old Street (0.9 miles)

    Shoreditch (1.1 miles)

    Bethnal Green (1.2 miles)

    Dalston Kingsland (0.7 miles)

    Essex Road (0.8 miles)

    Old Street (0.9 miles)

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