Unique Central London Freehold with secure blended income
Summary
- Over half an acre freehold
- Attractive courtyard setting
- Two occupational tenants one being Michelin starred restaurant
- Secure revisionary ground rent income
- 15 underground car parking spaces
- Long term value from reversion and potentially development
Location
Chapel Place is an attractive private courtyard development accessed from both Rivington Street and Old Street within the vibrant 'Shoreditch Triangle'. The surrounding area is mixed use featuring hotels, offices, showrooms, shops and restaurants. Old Street, Liverpool Street and Shoreditch High Street Stations are within easy walking distance.
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Mainline Stations
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Old Street6 mins
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Shoreditch High Street7 mins
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Hoxton9 mins
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Liverpool Street11 mins
Underground Station
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Old Street5 mins
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Shoreditch High Street5 mins
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Hoxton9 mins
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Liverpool Street11 mins
Further Information
Price Offers in excess of £2,100,000
Rates Payable Upon Enquiry
Service Charge n/a
Description
Chapel Place was an office development across 12 low rise buildings constructed in 1990. The buildings are of concrete construction faced with traditional bricks with pitched tiled roofs. The architectural style is traditional. The holding on offer comprises the freehold of buildings sold off on long leases of varying length totalling a net internal sq. ft. of circa 27,000 sq. ft. paying rising ground rents. Occupational income is from a restaurant, showroom and Porter's office totalling 2,131 sq. ft. 15 car parking space generate income these are let by way of short term licenses.
Terms
Sale of freehold interest comprising Title Nos EGL etc
Price
Offers in excess of £2,100,000 + VAT.
Passing Rent
The estate currently generates £131,786 per annum income (mixture of occupational leases, ground rents, other income and car park licenses).
Additional Information
Full tenancy schedule available.
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