1-1a Telegraph Street City of London EC2R 7AR

1-1a Telegraph Street
City of London
EC2R 7AR

  • 1-1a Telegraph Street<br>City of London<br>EC2R 7AR

Attractive Period City of London Retail and Office Investment

  • Highly sought after City of London location
  • Close to several of London's most historic landmarks including The Bank of England and Guildhall
  • Includes a barber and a grooming salon with offices on the first, second and third floors
  • Asset Management Opportunities
  • VAT-free London investment
  • Lot
    12
  • Auction
    18/May/2022
  • Rent
    Gross: £71,500 per Annum Exclusive
  • Status
    Sold Prior
  • Price*
     
  • Sector
    Office
  • Auction Venue
    Live Streamed Auction
Important Update
  • Expand
  • Photos
  • Map

* More information on the term "price" can be found here

Property Information

Location
Miles
300m north of the Bank of England, 300m south of Finsbury Circus Gardens
Rail
Bank Underground (Central, Waterloo & City, Northern, District & Circle lines), Moorgate Central/Underground (Circle, H'smith & City, Metropolitan, Northern), Cannon Street (Southeastern, Circle, District)
Air
City Airport
Situation

Telegraph Street is located in the heart of the City of London, off the eastern side of Moorgate. The property is located on the corner of Telegraph Street at its junction with Whalebone Court.
The property is located equidistant from both The Bank of England and Guildhall. Local occupiers include international banks, financial institutions and corporates including ING Bank and Deutsche Bank. The property is extremely accessible by public transport and benefits from several nearby underground tube stations including Bank, Moorgate and Cannon Street.

Tenure

Leasehold. Held from The Master & Wardens and Commonalty of Freeman of the Art or Mystery of Clothworkers of the City of London for a term of 125 years from 17th January 2006 at a ground rent of £200 per annum, subject to annual rent reviews to RPI.

Location
Miles
300m north of the Bank of England, 300m south of Finsbury Circus Gardens
Rail
Bank Underground (Central, Waterloo & City, Northern, District & Circle lines), Moorgate Central/Underground (Circle, H'smith & City, Metropolitan, Northern), Cannon Street (Southeastern, Circle, District)
Air
City Airport
Situation

Telegraph Street is located in the heart of the City of London, off the eastern side of Moorgate. The property is located on the corner of Telegraph Street at its junction with Whalebone Court.
The property is located equidistant from both The Bank of England and Guildhall. Local occupiers include international banks, financial institutions and corporates including ING Bank and Deutsche Bank. The property is extremely accessible by public transport and benefits from several nearby underground tube stations including Bank, Moorgate and Cannon Street.

Tenure

Leasehold. Held from The Master & Wardens and Commonalty of Freeman of the Art or Mystery of Clothworkers of the City of London for a term of 125 years from 17th January 2006 at a ground rent of £200 per annum, subject to annual rent reviews to RPI.

Description

The property comprises a barber shop on the ground floor and a grooming salon on the basement. In addition, the property comprises offices arranged on the first, second and third floors, separately accessed from Telegraph Street.

VAT

VAT is not applicable to this lot.

Note

Please note the buyer will pay 1% plus VAT of the purchase price towards the Vendor's costs in addition to the cost of the searches. Please see Special Conditions of Sale.

Completion Period

6 Week Completion

EPC

See legal pack.

Description

The property comprises a barber shop on the ground floor and a grooming salon on the basement. In addition, the property comprises offices arranged on the first, second and third floors, separately accessed from Telegraph Street.

VAT

VAT is not applicable to this lot.

Note

Please note the buyer will pay 1% plus VAT of the purchase price towards the Vendor's costs in addition to the cost of the searches. Please see Special Conditions of Sale.

Completion Period

6 Week Completion

EPC

See legal pack.

Tenancy & Accommodation

Floor Use Floor Areas (Approx sq m) Floor Areas (Approx sq ft) Tenant Term Rent p.a.x. Rent Review
Ground Retail/Ancillary
22.67 sq m
(244 sq ft)
RESTYLEBARBERS LIMITED
(t/a Re-Style)
15 years from 31/10/2018 to 30/10/2033
£38,000
31/10/2023 and 5 yearly thereafter
Basement Retail/Ancillary
23.88 sq m
(257 sq ft)
CITY GENTS GROOMING LIMITED 6 years from 25/12/2015 to 24/12/2021 (holding over) (1)
£9,000
-
First Office
22.48 sq m
(242 sq ft)
FTV LONDON LTD with a guarantee from
A.SANDHU
5 years from 27/01/2022
£10,000
-
Second Office
21.09 sq m
(227 sq ft)
SGS & PARTNERS LIMITED 3 years from 11/12/2019 to 10/12/2022
£8,500
-
Third Office
22.48 sq m
(242 sq ft)
M.O.LLOYD 2 years from 01/07/2020 to 30/06/2022
£6,000
-
Total:  
112.6 sq m
(1,212 sq ft)
   
£71,500
 

(1) An Agreement for Lease has been entered into with the tenant for a new 14 year lease at a commencing rental of £10,000 pa.

If you are the successful bidder, Acuitus requires a separate payment of £1,250+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.

Property Documents

  • Brochure
    Updated Date
    03.05.22
    File Size
    3 MB
    View PDF
  • Common Auction conditions
    Updated Date
    10.06.21
    File Size
    168 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Acuitus
David MargolisDavid Margolis +44 (0)20 7034 4862 +44 (0)7930 484 440david.margolis@acuitus.co.uk
Edward MartinEdward Martin +44 (0)20 7034 4854 +44 (0)7478 673 535edward.martin@acuitus.co.uk
Seller's Solicitors
Hamlins LLP 1 Kingsway
London
WC2B 6AN
Mark Hurst +44 (0)20 7355 6024mark.hurst@hamlins.com

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk

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