Acquired
Empire House, 136 – 144 City Road, London EC1
Empire House, 136 – 144 City Road, London EC1
Acquired for £20,650,000
- Property Type:
- Commercial
- Sub Types:
- Leisure, Office
- Tenure:
- Freehold
- Net Initial Yield:
- 3.76%
- Site Area:
- 26,178 sq.ft [2,432 sq.m]
Tenancy
The hotel element is let on FRI terms in its entirety to Z Hotels on a 35 year lease from 12 June 2014.
The restaurant element is let on FRI terms to Ceviche on a 25 year lease from 1 December 2014.
Income
The total passing rent is £790,000 per annum.
Description
Empire House is an attractive, fully refurbished hotel and restaurant freehold investment.
Situated in the centre of Shoreditch, one of London’s fastest growing and most vibrant and dynamic sub-markets.
The asset totals 26,178 sq ft GIA, comprising a 111-room hotel arranged over lower ground, part ground, and first to third floors, in addition to a self-contained ground floor restaurant.