224-232 St John Street

224-232 St John Street

London, EC1

Tenure: For Sale

Quoting Terms: £14,000,000, subject to contract and exclusive of VAT

  • Located in the heart of Clerkenwell close to Farringdon Station
  • Freehold
  • Comprises 21,491 sq ft (1,996.6 sq m) of offices over basement, ground and 3 upper floors
  • Let to Trace Group Ltd until 23rd September 2022, who have been in occupation since 1989
  • Current rent passing of £712,880 which equates to a low overall rent of £33.17 per sq ft
  • The rent is subject to fixed uplifts
  • Positive pre-application responses for an exciting new build office scheme
  • Offers are invited in excess of £14,000,000 for the freehold interest, subject to contract and exclusive of VAT
  • A purchase at this level reflects a net initial yield of 4.77%, assuming purchaser’s costs of 6.79%, a capital value of £651 per sq ft on the existing accommodation and £366 per sq ft on the proposed development scheme

Rent

Let until Sept 2022

VAT

Elected

Lease

Let until Sept 2022

Schedule of Areas

Floor Sq ft Sq m
Whole 21,491 sq ft 1,997 sq m
Total 21,491 sq ft 1,997 sq m

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Location & Transport

Farringdon

7 mins walk

Barbican

8 mins walk

Moorgate

8 mins walk

Angel

9 mins walk