40 Clerkenwell Close, London, EC1R 0AZ
Offers in Excess of
£5,500,000
£487.55 per sq ft
Business rates & charges may apply
- SIZE AVAILABLE
11,281 sq ft
1,048 sq m
- SECTOR
Office for sale
Key features
- Rare Farringdon refurbishment / redevelopment opportunity.
- Likely to appeal to owner occupiers and developers.
- Prime location, within a seven minute walk of Farringdon station.
- Providing unbeatable transport links across London, and beyond.
- Set on an island site, on a quiet street leading to Clerkenwell Green.
- Stripped out and ready for creative rejuvenation.
- Vacant & removed from the rating list.
- NIA of 11,281 sq ft & GIA of 12,767 sq ft.
Description
Description
Constructed on an island site in 1988, the property is of brick, block and steel construction under a flat roof with two rotundas, one of which provides access to a roof terrace.
Each floor provides open plan floor plates with excellent floor to ceiling heights and raised access floors. Windows on all elevations, except the rear. The core provides a single staircase around a glazed lift shaft.
The property is vacant and has been stripped out. The strip out is comprehensive and includes the removal of all internal and external M&E.
Historically, the property has always been single let as a headquarters building.
The stripped-out property is a blank canvas, providing owner occupiers and developers with an excellent opportunity to design and build a modern building suited to current wants and needs.
Location
Located on Clerkenwell Close, the building is at the heart of Farringdon and Clerkenwell’s lively social scene.
The area is home to a diverse mix of offerings with restaurants, bars, hotels and gyms all within easy reach.
Smithfield Market will be re-developed into a mixed-use cultural site forming the gateway to the City of London’s transformative initiative, The Culture Mile. The redevelopment will also accommodate the new London Museum, further enhancing the local area and rich amenity offering.
Transport
Farringdon (Circle, Elizabeth, Hammersmith & City and Metropolitan lines and National Rail)
Barbican (Circle, Hammersmith & City and Metropolitan lines)
Chancery Lane (Central line)
Kings Cross St Pancras (Northern, Piccadilly and Victoria lines, National Rail and Eurostar)
Various bus routes
Highlights
– Rare Farringdon refurbishment / redevelopment opportunity.
– Likely to appeal to owner occupiers and developers.
– Prime location, within a seven minute walk of Farringdon station.
– Providing unbeatable transport links across London, and beyond.
– Set on an island site, on a quiet street leading to Clerkenwell Green.
– Stripped out and ready for creative rejuvenation.
– Vacant & removed from the rating list.
– NIA of 11,281 sq ft & GIA of 12,767 sq ft.
Floor Areas (NIA)
2 x Rotunda - 584 sq. ft.
Third - 2,576 sq. ft.
Second - 2,697 sq. ft.
First - 2,650 sq. ft.
Ground - 2,774 sq. ft.
Total - 11,281 sq. ft.
Floor Areas (GIA)
2 x Rotunda - 638 sq. ft.
Third - 2,990 sq. ft.
Second - 3,094 sq. ft.
First - 3,043 sq. ft.
Ground - 3,002 sq. ft.
Total - 12,767 sq. ft.
Tenure
The property is held freehold under registered title number NGL588273.
Proposal
The property is offered for sale with Vacant Possession on completion.
Unconditional offers in excess of £5,500,000 are sought for the freehold interest. Subject to contract and exclusive of VAT.
A purchase at this level reflects a low Capital Value of £488 per sq ft.
VAT
The property is elected for VAT.
Planning
The property is located within The London Borough of Islington.
The property is not listed and is located within the Clerkenwell Green Conservation Area.
EPC
Prior to the strip out the property had an EPC Rating of C-75.
Business Rates
The property was removed from the rating list on 1 April 2023.
Constructed on an island site in 1988, the property is of brick, block and steel construction under a flat roof with two rotundas, one of which provides access to a roof terrace.
Each floor provides open plan floor plates with excellent floor to ceiling heights and raised access floors. Windows on all elevations, except the rear. The core provides a single staircase around a glazed lift shaft.
The property is vacant and has been stripped out. The strip out is comprehensive and includes the removal of all internal and external M&E.
Historically, the property has always been single let as a headquarters building.
The stripped-out property is a blank canvas, providing owner occupiers and developers with an excellent opportunity to design and build a modern building suited to current wants and needs.
Location
Located on Clerkenwell Close, the building is at the heart of Farringdon and Clerkenwell’s lively social scene.
The area is home to a diverse mix of offerings with restaurants, bars, hotels and gyms all within easy reach.
Smithfield Market will be re-developed into a mixed-use cultural site forming the gateway to the City of London’s transformative initiative, The Culture Mile. The redevelopment will also accommodate the new London Museum, further enhancing the local area and rich amenity offering.
Transport
Farringdon (Circle, Elizabeth, Hammersmith & City and Metropolitan lines and National Rail)
Barbican (Circle, Hammersmith & City and Metropolitan lines)
Chancery Lane (Central line)
Kings Cross St Pancras (Northern, Piccadilly and Victoria lines, National Rail and Eurostar)
Various bus routes
Highlights
– Rare Farringdon refurbishment / redevelopment opportunity.
– Likely to appeal to owner occupiers and developers.
– Prime location, within a seven minute walk of Farringdon station.
– Providing unbeatable transport links across London, and beyond.
– Set on an island site, on a quiet street leading to Clerkenwell Green.
– Stripped out and ready for creative rejuvenation.
– Vacant & removed from the rating list.
– NIA of 11,281 sq ft & GIA of 12,767 sq ft.
Floor Areas (NIA)
2 x Rotunda - 584 sq. ft.
Third - 2,576 sq. ft.
Second - 2,697 sq. ft.
First - 2,650 sq. ft.
Ground - 2,774 sq. ft.
Total - 11,281 sq. ft.
Floor Areas (GIA)
2 x Rotunda - 638 sq. ft.
Third - 2,990 sq. ft.
Second - 3,094 sq. ft.
First - 3,043 sq. ft.
Ground - 3,002 sq. ft.
Total - 12,767 sq. ft.
Tenure
The property is held freehold under registered title number NGL588273.
Proposal
The property is offered for sale with Vacant Possession on completion.
Unconditional offers in excess of £5,500,000 are sought for the freehold interest. Subject to contract and exclusive of VAT.
A purchase at this level reflects a low Capital Value of £488 per sq ft.
VAT
The property is elected for VAT.
Planning
The property is located within The London Borough of Islington.
The property is not listed and is located within the Clerkenwell Green Conservation Area.
EPC
Prior to the strip out the property had an EPC Rating of C-75.
Business Rates
The property was removed from the rating list on 1 April 2023.
Brochures
40 Clerkenwell Close, London, EC1R 0AZ
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Farringdon Station0.2 miles
- Chancery Lane Station0.5 miles
- Barbican Station0.5 miles
Notes
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