Office for sale in 110 Gloucester Avenue, Primrose Hill, London NW1
£7,500,000 (£786.41/sq. ft)
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Office for sale
Council tax band:
Arranged over two buildings with central courtyardCurrently operated as a fully let business centre at low rentsTotal gross fee income for y/e 2020 was £335,000 per annumPotential opportunity for owner occupierPotential for a commercial led developmentLots of original charm and characterPlanning consent for an additional 340 sqm floor to the rear building
110 Gloucester Avenue has been in the same family ownership since 1982 and is now on the market for the first time in 40 years. It comprises over 9,500 sq ft of commercial space within two buildings, each accessed from the central courtyard. The Property has been run as the Primrose Hill Business Centre for many years and there are currently 29 tenants in occupation on rolling 12 month License Agreements. The passing (inclusive) fee income is considered to be significantly below the market value. Total gross fee income for y/e 2020 was £335,000 per annum.
The front building is arranged over basement, ground and 3 upper floors with both an internal and external staircase providing a number of options for how the building is occupied.
The rear building, originally built as a warehouse, is arranged over 2 floors and benefits from an historic planning consent for an additional 340 sqm floor. We are informed that a material start has been made.
110 Gloucester Avenue is midway between the Lansdowne Pub and The Pembroke Castle, a 2 minute walk from the shops, bars and restaurants of Primrose Hill and a 4 minute walk from Chalk Farm Tube.
* Sizes listed are approximate. Please contact the agent to confirm actual size.
Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by Dutch & Dutch, and do not constitute property particulars. Please contact Dutch & Dutch for full details and further information. The Running Costs data displayed on this page are provided by PrimeLocation to give an indication of potential running costs based on various data sources. PrimeLocation does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions, related information or Running Costs data provided here.
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