Long Leasehold Self-Contained Office Suite with potential to convert
- Rare opportunity to buy a long leasehold office suite with terrace/patio
- Potential to convert to provide residential accommodation (STC)
- Floor Area 125.5 sq m (1,351 sq ft) GIA on Lower Ground Floor
- 107 years unexpired
The property is situated in Great James Street which is off Theobald’s Road and comes within the bustling Bloomsbury area close to Gray’s Inn and Gray’s Inn Gardens, designed by Sir Francis Bacon and near the cosmopolitan Lamb’s Conduit Street. Good transport connections are available with Holborn (Piccadilly & Central), Chancery Lane (Central), Russel Square (Piccadilly) and Farringdon (Hammersmith & City & District Line and national rail to Gatwick Airport) Underground Stations both being within a short walking distance.
The office suite is located on the lower ground floor in a Grade II listed building. The property has the benefit of an attractive terrace/patio of about 20 sq m and currently provides three offices, a shower, separate WC and kitchen.
The Net Internal Area (NIA) is approximately 100 sq m (1,076 sq ft). The Gross Internal Area (GIA) is about 125.5 sq m (1,351 sq ft)
The property is held on a long lease granted in December 1999 for 125 years at a current ground rent of £100 pa which doubles every 25 years. There is a service charge based on 10.53% of the total costs incurred by the landlord on the whole building. The permitted use is for offices and is not qualified. The landlords have indicated that they would grant a change of use to residential on payment of a premium.
The property has B1 Business Use Class. We believe the planning authority will consider a change of use to residential provided it meets their criteria. Applicants should make their own enquiries.
£16,250 described as Offices and Premises
The property is not elected for VAT
Unconditional offers are invited for the unexpired leasehold interest of 107 years with vacant possession over £850,000
Davis Brown for themselves, for any joint agents and for the vendors or lessors of this property whose agents they are give notice that: (i) the particulars are set out as a general outline only for the guidance of intending purchasers, or lessees, and do not constitute, nor constitute part of, an offer or contract; (ii) all descriptions, dimensions, references to condition and necessary permissions for use and occupation, and other details are given in good faith and are believed to be correct but any intending purchasers or tenants should not rely on them as statements or representations of fact but must satisfy themselves by inspection or otherwise as to the correctness of each of them; (iii) no person in the employment of Davis Brown or any joint agents has any authority to make or give any representation or warranty whatever in relation to this property; (iv) all rentals and prices quoted are exclusive of VAT (if chargeable)
SUBJECT TO CONTRACT