The property provides contemporary office accommodation arranged over lower ground, ground and three upper floors. The second and third floors are linked and benefit from a superb vaulted ceiling and double height area.
The ground and lower ground floors have previously benefitted from their own independent entrance, which could be reconfigured/reinstated.
Location
The property is located on the western side of Saffron Hill, close to its junction with St Cross Street within the heart of Farringdon, close to London’s famous Hatton Garden jewellery. The area has undergone significant regeneration and now boasts an array of retail & leisure offerings including Leather Lane market.
91 - 94 Saffron Hill benefits from superb transport links being within 4 minutes walking distance from Farringdon and Chancery Lane stations. Farringdon Station has become Central London’s principal rail hub, with interchange for the London Underground, Thameslink, National Rail and the Elizabeth Line – providing unrivalled public transport links across London, as well as direct links to three of London’s five airports.
The Elizabeth Line is Europe’s largest infrastructure project compising a 100km east to west underground line. It will enhance connectivity of 91 - 94 Saffron Street to the City, West End, Heathrow and Canary Wharf.
Accommodation
The building has been measured in accordance with the RICS 6th code of measuring practice and as such we report the following areas:
Third Floor - 2,666 sq ft (247.67 sq m)
Second Floor (Mezzanine) - 323 sq ft (30.00 sq m)
Second Floor - 3,840 sq ft (356.73 sq m)
First Floor - 4,271 sq ft (396.77 sq m)
Ground Floor - 1,956 sq ft (181.71 sq m)
Lower Gound Floor (Hatton Place) - 1,048 sq ft (97.36 sq m)
Lower Ground Floor (Saffron Hill) - 2,504 sq ft (232.62 sq m)
Total - 16,608 sq ft (1,542.86 sq m)
Terms
PROPOSAL - Offers invited in excess of £9,250,000 for the freehold interest subject to contract and exclusive of VAT.
Pricing at this level, reflects a net initial yield of 7.46% (assuming purchasers cost of 6.69%) and a capital value of £557 per sq ft.
VAT - The property is elected for VAT. It is anticipated that the transaction will be treated as a Transfer of Going Concern (TOGC).
PLANNING - The property is not listed, however is situated within the Hatton Garden Conservation Area.
The Local Authority is Camden.
EPC - Offices - Rating – D89.
TENANCY SCHEDULE - See attached brochure for information.
Specification
- Air conditioning
- LG7 compliant lighting
- Contemporary ground floor reception
- Bike storage
- Good natural light
- Raised floors
- Shower facilities
- Lift
- Disabled facilities
- Vaulted ceiling