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image  John Street, Bloomsbury, WC1N

image Sold

Floor area:
1,500 sq. ft. (139 sq. m.)
image Sold (Leasehold)

Property Description

Long Leasehold Investment

Investment Profile:
The investment available is on the ground floor of a period Grade II listed building, located on John Street, Bloomsbury, 0.5 miles from Russell Square Station (Piccadilly Line) and 0.6 miles from Holborn Station (Central and Piccadilly Lines). 

The space is let to HRA Pharma UK on a lease expiring in December 2019 with a passing rent of £67,500 PA (£45.00 per sq. ft.). ERV is £75,000 PA (£50 per sq. ft.). The lease is outside the Landlord and Tenant Act and therefore offers good potential for owner-occupation upon expiry of the lease.

Floor Area:
1,500 sq. ft. / 139 sq. m.
Offers in the region of £1,400,000 for the long leasehold (999 years), which reflects a net initial yield of 4.52% based on purchasing costs at 6.75%.

The ERV reflects a reversionary yield of 5.02% based on purchasing costs at 6.75%.

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