MapPrice on application
POARetail property (high street) for sale
89-91 Gresham Street, London, EC2V 7NQ
Retail property (high street)
14,499 sq ft / 1,347 sq m
Features and description
- Tenure: Leasehold
- Core City of London location
- Unrivalled transport links
- Grade II Listed building
- Comprehensively refurbished
- Gross passing rent c.£710,000 pa
- Long leasehold
Description
89-91 Gresham Street is a prime and highly prominent building comprising 14,499 sq ft (1,347 sq m) of office, bar/restaurant and ancillary accommodation over lower ground, ground and 5 upper floors.
The bar/restaurant is let until April 2036 (13.5 years term certain) to New World Trading Company (UK) Ltd (t/a The Trading House) at a current passing rent of £155,000 per annum reflecting only £33.00psf overall.
Multilet to three office tenants on leases with breaks and expiries between 2027 and 2034 off a low overall passing rent of only c. £59.60 psf overall. All office floors have undergone a high quality refurbishment since 2018 with the 2nd floor having recently been refurbished to CAT B spec, the rent achieved on the second floor is £69.50psf highlighting the reversionary rents on the remainder of the office floors.
The total gross passing rent is approximately £710,000 per annum.
Offers are invited for the long leasehold interest, subject to contract and exclusive of VAT.
Location
89-91 Gresham Street is located in the core of the City of London and occupies a prominent position on the north side of Gresham Street within close proximity to both the Bank of England (75m) and St Paul’s Cathedral (450m). Other major City of London landmarks including Guildhall (120m), Mansion House (200m), The Ned (200m) and Bloomberg Place (200m) are all within short walking distance.
89-91 Gresham Street is a prime and highly prominent building comprising 14,499 sq ft (1,347 sq m) of office, bar/restaurant and ancillary accommodation over lower ground, ground and 5 upper floors.
The bar/restaurant is let until April 2036 (13.5 years term certain) to New World Trading Company (UK) Ltd (t/a The Trading House) at a current passing rent of £155,000 per annum reflecting only £33.00psf overall.
Multilet to three office tenants on leases with breaks and expiries between 2027 and 2034 off a low overall passing rent of only c. £59.60 psf overall. All office floors have undergone a high quality refurbishment since 2018 with the 2nd floor having recently been refurbished to CAT B spec, the rent achieved on the second floor is £69.50psf highlighting the reversionary rents on the remainder of the office floors.
The total gross passing rent is approximately £710,000 per annum.
Offers are invited for the long leasehold interest, subject to contract and exclusive of VAT.
Location
89-91 Gresham Street is located in the core of the City of London and occupies a prominent position on the north side of Gresham Street within close proximity to both the Bank of England (75m) and St Paul’s Cathedral (450m). Other major City of London landmarks including Guildhall (120m), Mansion House (200m), The Ned (200m) and Bloomberg Place (200m) are all within short walking distance.
Property information from this agent
About this agent
Avison Young creates economic, social and environmental value as a global real estate advisor, powered by people. At Avison Young, we believe in creating positive impact wherever we go. There is a vital role for commercial real estate to create healthy, productive workplaces for employees, cities that are centres of prosperity for its citizens, and built spaces and places that create a net benefit to the economy, the environment and the community. Our nimble, agile team has global insight, local market expertise and access to some of the smartest technology in the commercial real estate industry – all at the ready to work on creating your competitive advantage. As a private company, you will collaborate with an empowered partner who is invested in your success as much as you are.