Office for sale in St John Street, London EC1M

Freehold Building for sale in Prime Clerkenwell Location.

This attractive former Victorian warehouse close to Farringdon Station is offered with vacant possession.

Location

St John Street is the heart of Clerkenwell. It is an exciting location, popular with creative companies and home to a variety of bars and restaurants.
The Property is situated on the west side of St John Street, close to its junction with Clerkenwell Road.
Farringdon Station is approximately 300 metres away, and provides access to the Circle, Hammersmith & City and Metropolitan lines together with Thameslink and Elizabeth Line services.

Description

101 St John Street is a former Victorian warehouse that has been sympathetically converted to provide self-contained office accommodation, retaining many of the original features.
It is arranged over basement, ground and three upper floors, with access via a single staircase to the rear. The roof provides a small terrace.
The building benefits from air conditioning throughout.

Accommodation

The building extends to approximately 4,956 sq. Ft. (460.4 sq. M.) Gross Internal Area over Basement, Ground and Three upper floors.
Typical floor plate is approx. 996 sq. Ft. (92 sq. M.)
The net internal area in its current office configuration is approximately 3,741 sq. Ft. (347.6 sq. M.)
The basement comprises a kitchenette, break out area and storage. Ground floor is dedicated to reception and meeting rooms.
The first and second floors offer open plan office floor plates, with the third floor comprising several recording rooms and access to the roof terrace.

Planning

The Property is within the control of the London Borough of Islington.
It is not Listed but is within the Clerkenwell Green Conservation Area.
The Property would be suitable for conversion into other uses subject to the usual consents.

Rating

2024 Rateable Value £87,500

EPC

Rating C (expires 23rd October 2032)

Tenure

The Property is held freehold under title number NGL239971.

Tenancy

The Property is offered for sale with Vacant Possession.

VAT

The Property is elected for VAT.

Proposal

Offers are invited in region of £2,800,000 for the freehold interest, subject to vacant possession.
A purchase at this level will reflect a capital value of £564 per ft2 (gia) / £748 per ft2 (NIA).

Investment rationale

• Location has benefitted from the opening of Elizabeth Line services at Farrington Station.
• Attractive self-contained former warehouse.
• Available with vacant possession.
• Ideal for owner occupier.
• Capital value is underpinned by residential values.
• Opportunity to reconfigure core and add a lift.
• Potential to add a fourth floor.
• Potential to change ground floor use to retail / restaurant.