March 11, 2019
SOLD – Farringdon Freehold Investment
Following 28 St Johns lane being offered to the market as a freehold investment opportunity in Farringdon, the building has been sold with a net initial yield of 4.95% and a capital value of £920+ per sq. ft, achieving an excellent result for our private client.
The building is a classic 1990’s Clerkenwell warehouse conversion, comprising nine sold off loft apartments from fifth to first floors and an excellent self-contained office/showroom arranged over ground and lower ground floors which has been fitted out to a high standard by the current tenants.
28 St Johns Lane is located in Clerkenwell, which is home to a diverse workforce and a well-established showroom community. The immediate area is served by an excellent selection of coffee shops, bars, restaurants and boutique hotels.
The impending arrival of the Elizabeth Line at Farringdon Station later this year is expected to boost the area further and anticipated to be a catalyst to further popularity and growth.
This was a milestone deal for Harrison Turner, marking his first investment deal since joining the firm in 2015.