Of interest to investors or owner occupiers looking to acquire a commercial property in King's Cross benefitting from 2 years income
Summary
- £3,750,000 subject to contract.
- £150,000 PA income | £46 per sq. ft.
- Lease expiry on 31 January 2024
- Reversionary income
- Redevelopment potential, stp
- Fab open plan warehouse office of circa 1,900 sq. ft at ground
- Roof terrace
Accommodation
The accommodation comprises of the following floor areas
| Floor/Unit | Sq ft | Sq m |
| 2nd | 511 | 47.47 |
| 1st | 514 | 47.75 |
| Ground | 2,228 | 206.99 |
| Total | 3,253 | 302.21 |
Location
St Chad's Place links Gray's Inn Road and King's Cross Road, 2 of King's Cross's main vehicular arteries and is a few minutes walk to the centre of King's Cross, its shops, dining facilities and Stations..
Get directions from Google Maps
Mainline Stations
-
King's Cross3 mins
-
St Pancras7 mins
-
Euston12 mins
-
Caledonian Road and Barnsbury17 mins
Underground Station
-
King\'s Cross3 mins
-
Kings Cross St. Pancras4 mins
-
St Pancras5 mins
-
Russell Square11 mins
Further Information
Price £3,750,000
Rates Payable £16.76 per sq ft
Service Charge n/a
EPC Rating This property has been graded as C
Description
Stobbs House is a period building organised as a large open plan warehouse style office on ground floor with a smaller meeting room, private office, generous reception kitchen and WC's.
The 2 upper floors are arranged as meeting rooms, 2nd kitchen, small roof terrace and a further WC and shower.
This property has comfort cooling throughout.
Terms
The freehold interest in Stobbs House is being sold, subject to the existing tenancy.
Headline lease terms
Lease commencing on 16 February 2019 and expiring on 31 January 2024, thereby having some 2 years remaining.
Let to Stobbs (IP) LTD, a legal practice, at £150,000 PA, | circa £46 per sq. ft.
VAT
This property is unelected for VAT and therefore won't be payable on the sale price.
Asset management considerations
Asset management considerations include an uplift to open market rental value as at the lease renewal date or a comprehensive redevelopment, subject to planning.
Legal costs
Each party to pay their own legal costs with this transaction.
Gallery
