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261 City Rd - Lexicon 1,300 sq ft Office / Retail Unit Offered at £675,000 in London EC1V 1LE
INVESTMENT HIGHLIGHTS
- Located walking distance to Angel and Old Street underground stations
- Next to the Landmark Chronicle tower in City Road
- Close to many new residential high-end developments
EXECUTIVE SUMMARY
DESCRIPTION: The premises, extend to approximately 1,300 sq. ft. (120 sq. m.) and are located in a corner unit on the ground floor next to the Landmark Chronicle tower in City Road. The main 60 ft. (20m) frontage is waterside, facing the City Road basin, and return frontage facing the interior of the building. The unit benefits from floor to ceiling windows to all the frontage, and is offered with valuable fittings including toilets, showers, electric installation and lights, raised floorings, aircon/heating.
PROPERTY FACTS
| Total Property Size | 7,620 sq ft | Floors | 33 |
| Property Type | Retail (Unit) | Typical Floor Size | 7,620 sq ft |
| Property Subtype | Shopfront Retail / Residential | Year Built | 2016 |
| Costar Property Class | B | Total Plot Size | 27.87 ac |
| Total Property Size | 7,620 sq ft |
| Property Type | Retail (Unit) |
| Property Subtype | Shopfront Retail / Residential |
| Costar Property Class | B |
| Floors | 33 |
| Typical Floor Size | 7,620 sq ft |
| Year Built | 2016 |
| Total Plot Size | 27.87 ac |
AMENITIES
- Security System
- Signage
- Waterfront
- Storage Space
- Air Conditioning
- Smoke Detector
1 UNIT AVAILABLE
Unit A
| Unit Size | 1,300 sq ft | Sale Type | Investment |
| Price | £675,000 | Tenure | Long Leasehold |
| Price Per sq ft | £519.23 | Net Initial Yield | 4.88% |
| Unit Use | Office / Retail | NOI | £32,940 |
| Unit Size | 1,300 sq ft |
| Price | £675,000 |
| Price Per sq ft | £519.23 |
| Unit Use | Office / Retail |
| Sale Type | Investment |
| Tenure | Long Leasehold |
| Net Initial Yield | 4.88% |
| NOI | £32,940 |
DESCRIPTION
NVESTMENT OPPORTUNITY Class E Premises for Sale off City Road with waterfront facing the basin. Currently tenanted producing £33,000 per annum exclusive
DESCRIPTION: The premises, extend to approximately 1,300 sq. ft. (120 sq. m.) and are located in a corner unit on the ground floor next to the Landmark Chronicle tower in City Road.
The main 60 ft. (20m) frontage is waterside, facing the City Road basin, and return frontage facing the interior of the building. The unit benefits from floor to ceiling windows to all the frontage, and is offered with valuable fittings including toilets, showers, electric installation and lights, raised floorings, aircon/heating.
LOCATION: The building is part of the mixed-use Lexicon development designed by Skidmore Owings & Merrill. Located walking distance to Angel and Old Street underground stations, fall within the catchment of Old Street technology hub and many new residential high-end developments in the vicinity.
LEASE: the unit is offered with a long lease of approximately 128 years unexpired.
TENANT: the premises are leased to Hinomi (UK) Limited, starting Nov 2023 for a period of 10 years at a passing rent of £33,000 pax.
BUSINESS RATES: Interested parties are advised to make their own enquiries with the Local Authority for verification purposes. Landlord has advised rates payable are currently circa £15,000 pa.
SERVICE CHARGE: approx £4,000 per annum.
EPC: Rating B (33)
SALE NOTES
The premises are leased to Hinomi (UK) Limited, starting Nov 2023 for a period of 10 years at a passing rent of £33,000 pax.
NEARBY MAJOR RETAILERS
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261 City Rd - Lexicon
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