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Land
Key information
Property description & features
- Tenure: Freehold
• 17 of the residential units are currently leased on rolling ASTs with a 6 months' notice clause, generating a gross rental income of £488,916 p.a in current condition, with a potential reversion in excess of approximately £554,000 p.a.
• Benefits from two extant planning permissions, one for a two-storey roof extension to provide 6 additional flats and the other to increase the office space to approximately 12,000 sq ft by converting the car park and live/work unit.
• Cove Burgess Architects have completed a feasibility study (2019) which shows redevelopment options for the site, providing additional massing above that of which has been consented.
• Offers are invited for the freehold interest on an unconditional, subject to contract, basis only.
Britannia Lofts is located on the northern side of Banner Street, moments from the district of Old Street and within the London Borough of Islington.
Islington is a vibrant district, one which offers plentiful amenities, retail, leisure and cultural facilities. It is particularly well known for its wealth of pubs, restaurants and bars as well as famous landmarks such as the Barbican Centre and Regent's Canal.
The area around Old Street is recognised as London's tech hub, home to some of the biggest tech companies in the world such as Cisco, Facebook, Google and Microsoft. It also has a high concentration of digital creative companies, and it is often referred to as the 'Silicon Roundabout' or 'Tech City'.
The subject Site is contained within the 'City Fringe Opportunity Area', as identified in the London Plan, meaning it is a key area for redevelopment, with the GLA stating a potential for 15,500 new homes and 50,500 new jobs in the area by 2041.
Places of interest
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Property reference TGW012371783. The information displayed about this property comprises a property advertisement. OnTheMarket.com makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and OnTheMarket.com has no control over the content provided by the agent or developer. This property advertisement does not constitute property particulars. The information is provided and maintained by Knight Frank - City & East, Residential Development.
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Broadband availability and predicted speed
Broadband speed is measured in megabits per second, with the number returned showing how fast the connection is. Each reading is based on the highest predicted speed of any major broadband network for services that deliver the download speeds. The following are the different readings that we may display:
Basic: Up to 30 Mbit/s
Super-fast: Between 30 Mbit/s and 300 Mbit/s
Ultra-fast: Over 300 Mbit/s
The data is updated three times a year. The checker results are predictions and should not be regarded as guaranteed. For more information, see: https://checker.ofcom.org.uk/en-gb/about-checker#Answer_0_2
Mobile phone signal availability and predicted strength: obtained from Ofcom on January 31, 2023
Mobile signal predictions are provided by the four UK mobile network operators: EE, O2, Three and Vodafone. Predictions can vary significantly from the coverage you may actually experience as a result of local factors (especially terrain). Ofcom has tested the actual coverage provided in various locations around the UK to help ensure that these predictions are reasonable. The values shown against a property can be broken down as follows:
Clear: No bars, no signal predicted
Red: One bar, reliable signal unlikely
Amber: Two bars, may experience problems with connectivity
Green: Three bars, likely to have good coverage and receive a data rate to support basic web services
Enhanced: Full bars, likely to have good coverage indoors and to receive an enhanced data rate to support multimedia services
Energy Performance data and Internal floor area
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