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55 Long Lane & 2 Cloth Court, Farringdon, London, EC1A 9EJ
264 Sq Ft / Other / Investment
Withdrawn - Last updated: 01 May 2024
Summary
The property comprises a very attractive, brick built, inter-terraced 5-storey plus basement building believed to have been constructed in 1850 which retains an abundance of period features and architectural detail. The building comprises a ground floor retail/commercial unit with active frontage to Long Lane with an ancillary basement and vault storage area. The unit is fully self-contained accommodating a WC and kitchenette.
The upper-floor flats (known as 2 Cloth Court) were converted and sold on long leaseholds. They are fully self-contained and have their own separate entrance via Cloth Court to the rear.
Key Points
Opposite the recently opened Elizabeth Line entrance and ticket hall at Farringdon stationRetail unit let to Redemption Roasters at 20% of turnover subject to a base rent of £XXX paxResidential flats sold off on 150-year long leases with rents reserved of £XXX paRetail lease is outside the 1954 Act and provides strong reversionary potential.Total rents reserved (assuming the base rent of £XXX p.a.x for the retail premises) of £XXX p.a.xLocation
The property is located in the northern edge of the City of London in the heart of Farringdon. The property is situated on the south side of Long Lane and is diagonally opposite the Elizabeth Line entrance to Farringdon Station and fronts onto the Smithfield Market. One of the entrances and ticket halls to Farringdon Station (Elizabeth Line, Thameslink, Circle, Hammersmith & City and Metropolitan lines) is opposite Barbican Station (Circle, Hammersmith and City and Metropolitan Lines) and is within a 3-minute walk. Local occupiers on Long Lane include Pret, Kurumaya, Old Red Cow, Dose, Costa Coffee, Balfour, Apulia, Subway, and numerous other independent retailers and F&B outlets.
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