2-10 Princeton Street

Development, Refurbishment or Owner Occupier Opportunity in the Heart of Midtown

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Investment Highlights

  • Commercial and residential investment
  • Enviable location in the heart of London’s Midtown
  • 20,537 sq ft of accommodation comprising 17,921 sq ft of commercial accommodation and 2,616 sq ft of residential accommodation
  • Offered by way of short-term sale and leaseback to City, University of London to 31st December 2020 (subject to tenant-only break options)
  • Four residential flats let on Assured Shorthold Tenancy agreements (ASTs)
  • Total passing rent of £488,480 per annum (reflecting £23.79 per sq ft)
  • Long leasehold interest of 150 years from 25 March 2005 at a peppercorn rent
  • Numerous asset management opportunities including refurbishment, change of use and redevelopment (subject to obtaining the necessary consents)

The Proposal

Offers in excess of £17,500,000 are invited for the long leasehold interest, subject to contract
This reflects an attractive capital value of £852 per sq ft

The Proposal

Offers in excess of £17,500,000 are invited for the long leasehold interest, subject to contract
This reflects an attractive capital value of £852 per sq ft

Midtown

Midtown is one of the most dynamic and evolving locations in London.

Benefitting from a strategic location between the West End and City markets, Midtown has and provides enviable transport links and accessibility for workers and visitors alike.

Occupiers and visitors are attracted to Midtown by its wide range of amenity including restaurants such as Hubbard & Bell, Holborn Dining Room and Noble Rot, and hotels such as The Hoxton and Rosewood Hotel.

Whilst once associated with the legal profession, owing to its proximity to the Royal Courts of Justice and Lincoln’s Inn Fields, the location has now evolved into a diverse and mixed tenant location.

Occupiers ranging from tech, media and financial to start-ups have all been attracted to Midtown, including Warner Bros, Amazon, Skype, Mediacom and Framestore.

Additionally, the area can boast of being home to a number of internationally recognised educational institutions including the University of Arts, UCL, LSE and King’s College London.