Verulam Gardens
SUMMARY
LOCATION
70 Gray’s Inn Road, London WC1.
Located in a comfortable walking distance from a number of underground and mainline train stations including Kings Cross, Farringdon and Holborn (3-min w. The nearest underground station is Chancery Lane (Central Line) which is located within 300 yards at the junction of Gray’s Inn Road and Holborn.
PROPERTY DESCRIPTION
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Freehold.
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Rectangular floor plates with good natural light from all four elevations.
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Major refurbishment completed in 2006 and 2009.
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Chillers and gas fired boilers replaced in 2008 and 2014.
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Multi-let to 3 tenants on 4 separate leases.
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LG / G/ 1st / 2nd floors occupied by a single solicitors tenant.
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Weighted average unexpired lease term of 4.4 years (3.6 years to breaks).
TOTAL FLOOR AREA
34,699 sq ft (NIA) / 3,303.9 sqm of Grade A office accommodation
INVESTMENT CONSIDERATION
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Will benefit from Crossrail (arriving in 2016 at Farringdon Station)
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No Capex required from Year 1 – 5.
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Good Tenants covenants.
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Reversionary rent with ERVs of £60+ psf on 3rd / 4th / 5th floors. (Next rent review in 2018).
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LG / G/ 1st / 2nd floors occupied by a single solicitors tenant had a significant rent increase of 37% from 2009 to 2014. Next rent review in 2020.
CONTACT
Euro Properties
OUR ADDRESS
20/F, Hong Kong Diamond Exchange Building,
8-10 Duddell Street, Central, Hong Kong
Email: properties@euro-group.com
Tel: +852 2810 8311
For any general inquiries, please fill in the following contact form:
