13 Provost Street, London, N1 7NH

1075 sq. ft. Sold

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Location

The property is situated in Provost Street, next door to Montcalm Shoreditch Hotel, and within a 2 minutes walk of Old Street Station.

The area is one of Central London’s fastest growing and most vibrant commercial districts with an outstanding array of vibrant restaurants, cafes and bars.

Transport

  • Old Street (Northern Line and Thameslink Great Northern)
  • Liverpool Street (Central, Circle, Hammersmith + City and Metropolitan Lines and National Rail)
  • Angel (Northern Line)

Description

A self-contained two storey office building constructed in 2005 as part of a Goldcrest mixed use scheme.

The offices are currently used as a mix of open plan and two private offices.

Amenities

  • Self-contained with own front door
  • Central heating
  • Perimeter trunking
  • Fully carpeted
  • W/C and shower
  • Kitchenette
  • Ground floor ceiling height 3m

Approximate floor areas

Net Internal Area:

First Floor 545 sq. ft. 50.6 sq. m.
Ground Floor 530 sq. ft. 49.2 sq.m.
Total 1,075 sq. ft. 99.9 sq.m.

Gross Internal Area:

First Floor 634 sq. ft. 58.9 sq. m.
Ground Floor 626 sq. ft. 58.2 sq. m.
Total 1,260 sq. ft. 117.1 sq. m.

Legal costs

Each party to be responsible for their own legal costs incurred in the transaction.

Sale

The building is offered for sale on the basis of an existing long leasehold interest of 999 years from 1st January 2004.

The property is let to Ms Dhruti Gandhi at £47,000 per annum plus VAT. The lease is for 20 years from 26.01.2006, expiring on 25.01.2026 and subject to 5 yearly rent reviews.

There is a sub-lease in place to TNT UK Limited at £42,000 per annum plus VAT. The lease is for 4 years from 30th July 2015.

Use Class: B1 Office

Price

£850,000 subject to contract and exclusive of VAT.

The price reflects a Net Initial Yield of 5.2%, assuming purchase costs of £6.8%.

Property Misdescriptions act 1991 / Misdescriptions Act 1967. Anton Page LLP for themselves and for the vendors of this property whose agents they are, give notice that: These particulars do not form any part of any offer or contract: the statements contained therein are issued without responsibility on part of the firm or their clients and therefore are not to be relied upon as statements or representations of fact, any intending purchaser must satisfy himself as to the correctness of each statement made herein: and the vendor does not make or give, and neither the firm nor any of their employees have the authority to make or give, any representation or warranty whatever in relation to this property. All prices exclude VAT.