The opportunity is situated in a historical part of London – Chancery Lane, one of the unique streets with very easy access to Westminster and City, within the Core Central Activities Zone and Strand Conservation Area. The area has seen a considerable transformation over the last decade with more reconstruction and improvement happening as well as values rising.
Three existing office buildings (Class B1) totalling 2,465 sq m (26,533 sq ft) converted to 35 self-contained luxury residential flats with roof terraces at fifth floor, also using part of basement area and part of ground floor.
- Scheme consists of 35 luxury residential apartments (26,533 sq ft) plus ground rents
- Interior design by March & White – award winning designers with worldwide reputation
- 14 apartments have already been sold at weighted average price of £2k per sq ft as of June 2019
- 21 apartments plus ground rents valued at circa £32.4mln (bank valuation) and £36.4mln (agents’ valuation)
- Sales are managed by CBRE and Knight Frank – leading agents on the luxury market in London
- Building is fully run by Knight Frank Management with 24/7 concierge and facilities
- Estimated Gross Rental Yield - 5.2% p.a. (2-3% guaranteed), Net Rental Yield - 4.6% p.a. (based on asking prices).