Sold
Prime Multi-let Freehold Investment Opportunity with Exceptional Reversionary Potential
85 Great Eastern Street, London EC2
Sold for £13,600,000
- Property Type:
- Commercial
- Sub Type:
- Office
- Tenure:
- Freehold
- Net Initial Yield:
- 4.25%
- Site Area:
- 16,139 sq.ft [1,499 sq.m]
Tenancy
Fully multi-let to six tenants including Task Systems Ltd, Illuminate Financial Management LLP, and New Solutions Ltd, with weighted income of approximately 2.2 years.
Income
Highly reversionary passing rent of £617,453 per annum reflecting only £38.26 per sq ft overall, with evidence recently created at £60.00 per sq ft on the first floor.
Description
- Freehold.
- Situated at the heart of Tech City on Great Eastern Street, one of the major thoroughfares in Shoreditch, forming the southern boundary of the coveted ‘Shoreditch Triangle’.
- Old Street Roundabout and the Tech City cluster is located just a few hundred metres to the west of the property, with the forthcoming Elizabeth Line (Crossrail) at Liverpool Street/Moorgate within a 10-minute walk to the south.
- Comprehensively refurbished in 2008 to provide approximately 1,499 sq m (16,139 sq ft) of net internal office, showroom, and ancillary accommodation, arranged over lower ground, ground and five upper floors.
- Estimated Rental Value in the order of £921,983 per annum (£57.13 per sq ft overall).