Freehold Multi-Let Office Investment For Sale in Farringdon, London

This property is marketed by:
Strettons

Key Features

• Excellent connectivity benefiting from access to Farringdon Station
• Current rents reserved £450,142 per annum (average rent £50.98 per sq ft)
• Highly reversionary with prime Farringdon rents in excess of £90 per sq ft
• Net Initial Yield of 8.47%
• Full vacant possession possible from March 2028

Description

Occupying a prominent position in the heart of Clerkenwell and a short walk from Farringdon Station, the building provides approximately 8,829 sq ft NIA (11,964 sq ft GIA) of accommodation and benefits from a distinctive warehouse-inspired character with an attractive brick façade that reflects the buildings industrial heritage. The property offers investors a highly attractive medium-term asset management opportunity, with the potential to secure full vacant possession by March 2028 upon expiry of the existing occupational leases. Significantly, all occupational leases have been granted outside the Landlord & Tenant Act 1954, providing certainty of vacant possession at lease expiry.

Location

A cornerstone of this transformation is the delivery of the new London Museum at Smithfield, which is set to open within the restored Victorian market buildings and is expected to attract significant visitor numbers whilst further elevating the profile of the immediate area. The substantial public and private investment being directed into Smithfield is reinforcing the area’s appeal as a destination for media, technology, creative and professional occupiers. Combined with the continued success of nearby Farringdon and Clerkenwell as office markets, the Cultural Mile initiative is expected to further enhance the amenity offering, public realm and occupational appeal of the surrounding neighbourhood. Located within a short walk of Smithfield Market and Farringdon station, 12 Berry Street is exceptionally well positioned to benefit from these long-term placemaking initiatives. The London Museum proposed to be opening in November 2026 with the meat market relocation scheduled for 2028 upon which the wider development will start to take shape. Such a timeframe coinciding well with the possible vacant possession date of March 2028 to undertake an extensive refurbishment of the building.