26 Cowper Street, Old Street London EC2A 4AP

1885 sq. ft. Under Offer

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Location

26 Cowper Street is located 100 metres from the new Old Street Underground Station entrance. Cowper Street runs adjacent to Old Street and links Old Street Station with Tabernacle Street. The Old Street district (silicon roundabout) has become internationally recognised as the centre for creative, tech and media start-ups alongside global giants. Professional and charity occupiers are also based locally. Local amenities are excellent with a huge variety of hotels, bars, restaurants and coffee houses immediately available. Old Street Station is currently undergoing major refurbishment works which are due to be completed Autumn 2022. As part of these works is the new subway entrance on Cowper Street has already been constructed and is in use today.

Description

26 Cowper Street is a charming converted warehouse building ideal for owner occupiers and investors alike.

The property is of brick construction under a flat roof with timber floors and large timber framed windows to the front and rear, providing good natural daylight to the open plan office space.

The accommodation is arranged over four floors, providing two small spaces at second and first floors and a self-contained duplex at ground and lower.

Highlights & Amenities

• Freehold interest
• Prime Shoreditch location
• Suitable for owner occupiers & investors
• Scope to extend, subject to planning
• Fitted kitchenettes
• Comfort cooling
• Juliet balconies
• Engineered wooden floors
• Perimeter trunking
• Modern light fittings

Tenancies

Full vacant possession can be achieved 05.06.2023.

The property is currently fully occupied, with all leases held outside the security of tenure and compensation provisions of The Landlord and Tenant Act 1954.

Floor: Second
Tenant: Gigabyte Software Ltd
Lease Expiry: 27.07.22
£ PAX: £20,000

Floor: First
Tenant: A.C.T.S Global Ltd
Lease Expiry: 05.06.23
£ PAX: £20,000 inc. S/C

Floor: Ground & L. Ground
Tenant: Panoramah (UK) Ltd
Lease Expiry: 27.07.22
£ PAX: £50,000

Total £ PAX: £90,000

Tenure

The freehold interest in title number NGL576790 is offered for sale. A copy of the title deed and plan is available on request.

Planning

Use Class E.

The property is not listed but is located within the Bunhill Fields and Finsbury Square Conservation Area.

In January 2017, planning consent was granted for an additional third floor extension, along with a rear extension to the second and first floors. This consent has now lapsed.

Price

Offers in excess of £1,700,000.

A purchase at this level would reflect a capital value of £902 per sq. ft.

Business Rates

The second floor has a rateable value of £11,000, making rates payable £5,489.

The first floor has a rateable value of £13,500, making rates payable £6,736.50

The ground & lower ground floors have a rateable value of £24,500, making rates payable £12,225.50.

Interested parties are expected to satisfy themselves as to the accuracy of these figures.

Service Charge

The current freeholders managing agent is running a service charge which is currently passing at £8,750 per annum plus VAT.

VAT

The building is elected for VAT.

Approximate floor area

Floor Sq. Ft. Sq. M.
2nd 373 34.65
1st 408 37.9
Ground 528 49.05
lGround 576 53.51
Total 1885 175.12

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.