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£3,800,000
Bedrooms
Bathrooms
Exceptional Freehold Opportunity in Prime Shoreditch / Old Street Location
This superb, prominent corner building is situated on the south side of City Road, close to Old Street, in the heart of Londons vibrant Tech City. It would make an ideal base for an international showroom, designer, creative business, or retailer seeking residential accommodation above. The layout offers versatility, strong asset fundamentals, and excellent revaluation prospects.
LOCATION
Surrounded by the prestigious Atlas apartment building, the Montcalm Hotel, and other local landmarks, as well as major retail names, the property benefits from excellent visibility and high footfall in this buzzing part of London. The buildings traditional architecture and beautiful faade a converted former pub contrasts strikingly with the surrounding ultra-modern developments, making this asset even more distinctive. Old Street Roundabout (Silicon Roundabout) is a short walk away, providing direct access to the Northern Line and National Rail services. The area is home to a thriving mix of technology companies, creative agencies, bars, and fashionable restaurants, attracting both occupiers and investors.
DESCRIPTION
The property offers a Gross Internal Area (GIA) of approximately 5,253 sq ft over five floors. The ground and basement levels extend to around 3,000 sq ft and are occupied by an impressive showroom with generous ceiling heights on the ground floor and expansive basement accommodation.
The upper floors comprise a triplex three-bedroom, two-bathroom maisonette with its own separate entrance and stunning period features. This residence extends to approximately 2,200 sq ft, with an additional 724 sq ft roof garden. The upper three levels include a modern kitchen-dining area connected to the staircase and reception room, both opening onto the exceptional roof terrace complete with mature trees and a Mediterranean feel, a rare feature in this location.
The top two floors provide three bedrooms and two bathrooms, with the entire uppermost floor dedicated to the primary suite. This includes an enormous walk-in wardrobe and a luxurious bathroom with one of the largest shower areas we have encountered. The home has been carefully renovated to combine period charm with contemporary design, offering generous floor-to-ceiling heights and excellent natural light.
TENURE
Freehold.
BUSINESS RATES
Rateable value for ground and basement, according to the VOA is 29,000 (2023 to present) and rates payable in region of 14,500 per annum. Interested parties are advised to make their own enquiries with the Local Authority.
EPC
Rating: D
SALE
Offers in excess of 3,800,000 for the freehold interest, exclusive of VAT (if applicable).
VAT
To be advised.
Map location is not available for this property.
Your property may be repossessed if you do not keep up repayments on your mortgage.
Monthly Payment: £ 8,216.87
Monthly Payment: £ 8,216.87
Monthly Payment: £ 8,216.87
Amortization For Monthly Payment: £8,216.87 over 30 years ( Based on 3.20% Interest )
Using your investment as a 25.00% deposit and £ 5,833 in costs for purchasing and getting ready to let.
Stamp Duty is a tax paid on completion via your solicitor, the calculation includes the 3% surcharge for second homes.
Your home may be repossessed if you do not keep up repayments on your mortgage.
The refurbishment budget is set to 2.50% of the purchase price, but this will vary dependent on the suitability of the property for the rental market. Select a value that you feel is appropriate to the condition of the property.
This will vary between lenders, type of report and whether or not you are buying with a mortgage, for advice on which type of survey would be appropriate speak with an advisor from Preston Baker Financial Services.
Lenders will often charge a fees for the arrangement of a mortgage, for advice on what lenders may charge, speak with an advisor from Preston Baker Financial Services. Your home may be repossessed if you do not keep up repayments on your mortgage.
This is the sum of mortgage admin, land registry, search, bank transfer and any other fees incurred.
Purchase costs include assumed mortgage and survey costs which are estimated. For a quote contact a Preston Baker Financial Services mortgage advisor who can provide you with current and accurate information. The stamp duty calculation has applid the 3% stamp duty surcharge on the basis that this will be a second property.
The mortgage is assumed to be interest only. Your home may be repossessed if you do not keep up repayments on your mortgage.
This is the percentage of the rent that you will spend maintaining the property.
Ground Rent only applies to leasehold properties. This is an assumed ground rent, the confirmed figure can be found in the Property Information Questionnaire.
Service charge only applies to leasehold properties. The correct figure can found in the Property Information Questionnaire answered by the seller.
This is a standard, indicative figure only. Properties that have a service charge often have this included withing that charge. Please consult the Property Information Questionnaire for more information.
Final Equity Profit = Final Property Value - Mortgage Required - Investment
Cumulative Rental Profit = Annual rental profit x Time of Investment
This is the assumed rate of house price inflation.
This is the property value at the end of the investment based on an assumed rate of % house price inflation.
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