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Agent's details

Property agent
Shaun Simons
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Glasshouse Yard, EC1A

For sale: £34,900,000.00|54,370 Sq Ft|Office, Offices
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Property details

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FOR SALE£34,900,000.00
SIZE54,370 Sq Ft
ADDRESSGlasshouse Yard, Farringdon, EC1A 4JT
TYPEOffice, Offices
TENUREInvestment Opportunity, For Sale Freehold
POSTED ON17th September 2024

Description

Key Points

  • Two office buildings, 20-25 and 26–28 Glasshouse Yard (GHY), which form a prominent corner site with fantastic views over the Grade I listed Charterhouse.
  • Prime Central London location 100 metres from Barbican Station and 250 metres from Farringdon Station (East) entrance.
  • 26 – 28 GHY is an HQ office building comprising 47,611 sq ft arranged of LG, G and six upper floors. It is let in its entirety to Amazon UK Services Ltd at a passing rent of £2,664,475 per annum reflecting a low passing rent of £55.96 per sq ft until 01/04/2028 with a tenant break option on 31/03/2026.
  • 20-25 GHY comprises 6,759 sq ft office building which was fully refurbished in Dec 2022. The building has a topped up passing rent of £410,520 per annum reflecting £60.74 per sq ft .
  • Total topped up passing rent of £3,074,995 per annum reflecting a highly reversionary £56.56 per sq ft.
  • Anomaly have undertaken an initial feasibility study outlining the potential to enhance value by increasing the massing by 19,524 sq ft a 36% uplift in floor area to give 73,894 sq ft.

    • Summary

    Prime Farringdon freehold office investment anchored by Amazon

    Description

    26- 28 Glasshouse yard comprises of a former telephone exchange that was comprehensively redeveloped in 2011 to provide 47,611 sq ft of well specified Grade A offices. The modern spacious office is accessed from Glasshouse Yard through an impressive double height glazed reception.

    26-28 Glasshouse Yard is arranged over lower ground, ground and 1st to 6th floors. The upper floors are bright, spacious and have fantastic views of the historic grade 1 listed Charterhouse. In addition to this, the 3rd – 6th floors benefit from external terraces.

    20-25 GHY comprises of 6,759 sq ft of office accommodation arranged over lower ground, ground and three upper floors.

    The building was comprehensively refurbished in 2018 inclusive of new M&E and windows. In Dec 2022 all floors were fully fitted and furnished to Cat A+ specification to provide office suites with excellent floor-to-ceiling heights, high quality furnishings, and exposed services.

    Location

    GHY is situated immediately to the north of Barbican underground station and approximately 250 metres to the north-east of the East entrance to Farringdon Station, providing exceptional transport connectivity across London.

    The area immediately surrounding GHY has a diverse mix of amenities and cultural offerings, creating a vibrant environment to work, live and
    socialise. To the rear of GHY is the Grade I listed Charterhouse which adjoins the Smithfield Market. 300 metres to the east is the vibrant White
    Cross Market, London’s premier daily food market that is frequented by City office workers.

    Availability_text

    The accommodation comprises the following areas:

    Website for this property

    Location

    marker
    Location: Glasshouse Yard, Farringdon, EC1A 4JT

    Barbican (0.1 miles)

    Farringdon (0.4 miles)

    Moorgate (0.4 miles)

    Barbican (0.1 miles)

    Farringdon (0.3 miles)

    Farringdon Rail (0.4 miles)
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