A rare opportunity to acquire a freehold Grade II Listed office building in the City of London.
- Planning consent to convert the property into 7 self-contained flats.
- The property comes within the Fleet Street Conservation Area
- The building is adjacent to the famous and historical Dr. Johnson's House
- Gross Internal Area of the building is 5,240 sqft
- Net Internal Area of the building is 4,200 sqft
- Current income of £140,000 pat
- Low Capital Value per sqft
- Vacant Possession is available October 2018
- Offers are invited in excess of £4,000,000
The property is located in Pemberton Row, directly opposite New Street Square and close to both Fetter Land and Fleet Street.
The adjoining building is Dr. Samuel Johnson's House, which is one of the earliest residential houses in the City of London, built in the 17th Century, a Grade I listed building.
Communications are good with the nearest Underground Station being Chancery Lane providing access to the Central Line. London Blackfriars Station has access to the District and Circle Line as well as Overground services. The new Elizabeth Line (Crossrail) is due to open this year with services from Farringdon Station, a short distance away.
This is an attractive four storey and basement red brick self-contained terraced Grade II listed building with a rear addition structure providing a potential terrace.
Planning consent was granted on the 22nd October 2015 to provide 7 self-contained flats.
Planning consent has been granted without the requirement for a Sectoin 106 or CIL Payment.
The property is let to Messrs Boff, Hammler & Iman (practicing under the firm of Philips & Leigh) under a lease dated 3rd November 2016 until 6th October 2018 at a rental of £140,000 pa exclusive.
The lease is contracted Outside the Landlord and Tenant Acct 1954 (as amended).
Clause 25 of the lease provides for the tenant to pay a sum in lieu of Dilapidations.
Net Internal Areas (NIA) - Existing Offices
Lower Ground Floor - 809 sqft
Ground Floor - 997sqft
1st Floor - 1,000 sqft
2nd Floor - 1,000 sqft
3rd Floor - 394 sqft
Gross Internal Areas (GIA) - Per Proposed Flat
Lower Ground & Ground Floor - 1 Bed - 589 sqft
Lower Ground & Ground Floor - 1 Bed - 570 sqft
Ground Floor - 1 Bed - 517 sqft
1st Floor - Studio - 323 sqft
1st Floor - 1 Bed - 603 sqft
2nd Floor - 1 Bed - 624 sqft
2nd & 3rd Floor - 2 Bed - 797 sqft
The property would suit either owner occupiers or developers.
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