Retail premises for sale in Gresham Street, London EC2V

Key Points

Description

89-91 Gresham Street is a prime and highly prominent building comprising 14,499 sq ft (1,347 sq m) of office, bar/restaurant and ancillary accommodation over lower ground, ground and 5 upper floors.

The bar/restaurant is let until April 2036 (13.5 years term certain) to New World Trading Company (UK) Ltd (t/a The Trading House) at a current passing rent of £155,000 per annum reflecting only £33.00psf overall.

Multilet to three office tenants on leases with breaks and expiries between 2027 and 2034 off a low overall passing rent of only c. £59.60 psf overall. All office floors have undergone a high quality refurbishment since 2018 with the 2nd floor having recently been refurbished to cat B spec, the rent achieved on the second floor is £69.50psf highlighting the reversionary rents on the remainder of the office floors.

The total gross passing rent is approximately £710,000 per annum.

Offers are invited for the long leasehold interest, subject to contract and exclusive of VAT.

Location

89-91 Gresham Street is located in the core of the City of London and occupies a prominent position on the north side of Gresham Street within close proximity to both the Bank of England (75m) and St Paul’s Cathedral (450m). Other major City of London landmarks including Guildhall (120m), Mansion House (200m), The Ned (200m) and Bloomberg Place (200m) are all within short walking distance.