PROPERTIES

22 City Road, London EC1Y 2AJ

Price£2,417,000

PDF DETAILS

22 City Road, London EC1Y 2AJ

  • Price£2,417,000
  • Income£90,000
  • Yield3.5%
  • SectorOffice
  • StatusAvailable
PDF DETAILS

Unique Rare Opportunity To Purchase A Ground Rent Investment In The Tech City Hub

Summary

  • Prominently located just a few minutes walk from Old Street Roundabout in the heart of the Tech City Hub.
  • Attractive modern office building situated on the eastern side of City Road directly overlooking the Famous HAC Grounds.
  • Providing 10,035 sqft of accommodation over lower ground, ground and four upper floors.
  • An overiding lease to Robert Ogdan Estates Ltd for a term of 250 years from 25th May 1972 (approximately 200 years remaining).
  • Robert Ogdan Estates Ltd is part of the Ogden Group of companies which is run by Sir Robert Ogden.
  • Low current rent of £90,000 pa (£8.96 per sq ft).
  • Freehold
  • Potential for the leaseholder to add further massing to the property subject to necessary planning consents.
  • Offers in excess of £2,417,000 (TWO MILLION FOUR HUNDRED AND SEVENTEEN THOUSAND POUNDS) subject to contract and exclusive of VAT.
  • A purchase at this level will reflect a net initial yield of 3.5% after allowance for purchaser’s costs of 6.36%.