EPIC sells 9 Orange Street for £8.1 million

Advised by Hanover Green, EPIC has sold 9 Orange Street, a prime WC2 office investment for £8.1m.

The freehold office investment totals 5,452 sq ft over part basement, part ground and four upper floors. The price reflects a capital value of £1,585 per sq ft.

The sub basement, part basement and part ground floor are sold off on a 999-year lease to the adjoining theatre. The building was comprehensively refurbished in 2010 and produces a current passing rent of £186,455 pa, equating to an average of £34.35 per sq ft.

Vacant possession can be obtained in nine months and all the leases are outside the Security Provisions of the Landlord and Tenant Act 1954.

There is a existing planning consent in place to convert the existing offices into six luxury residential apartments but the buyers are intending to retain the office use as owner occupiers.

 

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Hanover Green LLP
Sackville House
40 Piccadilly
London W1J 0DR

T: +44 (0) 20 3130 6400
E: sholmes@hanovergreen.co.uk

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