This property is no longer on the market
Retail property (high street)
Property description & features
- Tenure: Freehold
- Opposite the recently opened Elizabeth Line entrance and ticket hall at Farringdon station
- Retail unit let to Redemption Roasters at 20% of turnover subject to a base rent of £22,500 pax
- Residential flats sold off on 150-year long leases with rents reserved of £500 pa
- Retail lease is outside the 1954 Act and provides strong reversionary potential.
- Total rents reserved (assuming the base rent of £22,500 p.a.x for the retail premises) of £23,000 p.a.x
The property comprises a very attractive, brick built, inter-terraced 5-storey plus basement building believed to have been constructed in 1850 which retains an abundance of period features and architectural detail. The building comprises a ground floor retail/commercial unit with active frontage to Long Lane with an ancillary basement and vault storage area. The unit is fully self-contained accommodating a WC and kitchenette.
The upper-floor flats (known as 2 Cloth Court) were converted and sold on long leaseholds. They are fully self-contained and have their own separate entrance via Cloth Court to the rear.
Location
The property is located in the northern edge of the City of London in the heart of Farringdon. The property is situated on the south side of Long Lane and is diagonally opposite the Elizabeth Line entrance to Farringdon Station and fronts onto the Smithfield Market. One of the entrances and ticket halls to Farringdon Station (Elizabeth Line, Thameslink, Circle, Hammersmith & City and Metropolitan lines) is opposite Barbican Station (Circle, Hammersmith and City and Metropolitan Lines) and is within a 3-minute walk. Local occupiers on Long Lane include Pret, Kurumaya, Old Red Cow, Dose, Costa Coffee, Balfour, Apulia, Subway, and numerous other independent retailers and F&B outlets.
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