130 City Road,
London EC1

SOLD

Investment Highlights

  • Freehold office building totaling 13,008 sq ft (1,208.44 sq m) arranged over lower ground, ground and five upper floors.
  • Situated immediately north of Old Street Roundabout and Underground Station.
  • Multi-let to two tenants and providing a total income of £205,597 pa reflecting a very low average passing rent of only £15.81 psf overall.
  • Weighted Average Unexpired Lease Term (WAULT) of 3.9 years to expiry and 1.5 years to breaks.
  • Fixed rental uplift in March 2013.
  • Exceptional asset management opportunities to enhance value.
  • Highly reversionary.
  • Potential change of use to retail (A1/A2/A3) on lower ground & ground floors, and residential on upper floors, subject to planning.
  • We are instructed to seek offers in excess of £3,240,000 subject to contract and exclusive of VAT, reflecting a Net Initial Yield of 6.0% (assuming the deduction of purchasing costs of 5.80%), a guaranteed reversionary yield of 6.11% in March 2013, and a low capital value of £249 psf.

*** SOLD – February 2013 ***

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