Mixed use for sale
Property description & features
- Tenure: Leasehold
- Core City of London location
- Unrivalled transport links
- Grade II Listed building
- Comprehensively refurbished
- Gross passing rent £759,269 pa
- Long leasehold
89-91 Gresham Street is a prime and highly prominent building comprising 14,499 sq ft (1,347 sq m) of office, bar/restaurant and ancillary accommodation over lower ground, ground and 5 upper floors.
The bar/restaurant is let until April 2036 (13.5 years term certain) to New World Trading Company (UK) Ltd (t/a The Trading House) at a current passing rent of £155,000 per annum reflecting only £33.00psf overall.
The 1st and 3rd floors totalling 4,364 sq ft (405.4 sqm) are currently available to let having undergone a recent CAT A refurbishment providing the opportunity to either let in existing condition or undertake CAT B works and capture new headline rents for the building. Landlord to provide 12 month rental guarantees of £65.00 psf (1st floor) and £62.50 psf (3rd floor).
The 2nd, 4th and 5th floors are let to two office tenants at a passing rent of £326,124 per annum reflecting a passing rent of £66.75 psf overall.
Offers are invited for the long leasehold interest, subject to contract and exclusive of VAT.
Location
89-91 Gresham Street is located in the core of the City of London and occupies a prominent position on the north side of Gresham Street within close proximity to both the Bank of England (75m) and St Paul’s Cathedral (450m). Other major City of London landmarks including Guildhall (120m), Mansion House (200m), The Ned (200m) and Bloomberg Place (200m) are all within short walking distance.
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