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62 Brewery Rd - Blenheim Court 968 - 5,525 SF Office Condo Units Offered at $594,248 - $2,575,073 Per Unit in London N7 9NY
Investment Highlights
- VAT is NOT applicable to this property
- Comprises three-storey office building with 9 parking spaces at front
- Prominent location providing good access into central London for goods deliveries, with occupiers nearby including Screwfix, BSS, Topps Tiles and Sixt
- Majority of the building let to NHS Foundation Trust until March 2033
- Situated 1 mile from Kings Cross and less than 1 mile from Google, Facebook and YouTube HQs
Executive Summary
Barnsbury is a predominantly residential district that is two miles north of central London. Brewery Road runs between the A5200 York Way to the west and the A5203 Caledonian Road to the east. The property stock along the road is predominantly commercial and comprises a mixture of light industrial/trade counter units and office buildings similar to those in Blenheim Court.. The location provides good access into central London for goods deliveries which enhances the appeal as a commercial location. The area has benefitted from the recent development and regeneration of the former railway land immediately to the north of Kings Cross St Pancras station. Situated 1 mile from Kings Cross and less than 1 mile from Google, Facebook and YouTube HQs. Occupiers in the vicinity of the property includes Screwfix, BSS, Topps Tiles and Sixt Vehicle Rental.
2 Units Available
- Unit
- Unit Size
- Condo Use
- Price
- NOI
| Sale Type | Investment | Tenure | Long Leasehold |
| Cap Rate | 7.49% |
| Sale Type | Investment |
| Cap Rate | 7.49% |
| Tenure | Long Leasehold |
Description
Unit 9 comprises self-contained office premises arranged over ground, first and second floor. The property benefits from 7 car parking spaces and provides the following accommodation and dimensions:
Ground floor reception: 77.9 sq m (839 sq ft)
First Floor office: 201.0 sq m (2,164 sq ft)
Second floor office: 234.3 sq m (2,522 sq ft)
Total GIA: 513.2 sq m (5,525 sq ft)
Ground floor reception: 77.9 sq m (839 sq ft)
First Floor office: 201.0 sq m (2,164 sq ft)
Second floor office: 234.3 sq m (2,522 sq ft)
Total GIA: 513.2 sq m (5,525 sq ft)
Sale Notes
The property is at present let to Camden & Islington NHS Foundation Trust for a term of 10 Years from 25th March 2023 at a current rent of £146,000 p.a. and the lease contains internal repairing and insuring covenants by way of service charge. Rent review on 25.03.28 open market upward only. Tenant option to determine on 25.03.28 with min 6 months notice. Tenant in occupation since 2016 and currently on their third lease renewal.
Tenure:
Long leasehold. Held on a 125 Year lease from 7th July 1989 at a ground rent of £25,999.75 p.a. Reversion 2114. There is an overriding headlease for Blenheim Court, which contains provision for five yearly upward only ground rent reviews. The review provisions assume a single letting of the entire development with the total ground rent geared to 30% of the agreed Market Rent. This figure is then apportioned between the individual units on a floor area basis.
Tenure:
Long leasehold. Held on a 125 Year lease from 7th July 1989 at a ground rent of £25,999.75 p.a. Reversion 2114. There is an overriding headlease for Blenheim Court, which contains provision for five yearly upward only ground rent reviews. The review provisions assume a single letting of the entire development with the total ground rent geared to 30% of the agreed Market Rent. This figure is then apportioned between the individual units on a floor area basis.
| Sale Type | Investment | Tenure | Long Leasehold |
| Cap Rate | 8.89% |
| Sale Type | Investment |
| Cap Rate | 8.89% |
| Tenure | Long Leasehold |
Description
Unit 10 comprises self-contained office unit at ground floor. The property benefits from 1 car parking space and provides the following accommodation and dimensions:
Ground Floor: 89.9 sq m (968 sq ft)
Open plan office, 3 rooms, wc
Ground Floor: 89.9 sq m (968 sq ft)
Open plan office, 3 rooms, wc
Sale Notes
The property is at present let to Fittleworth Medical Ltd for a term of 5 Years from 1st July 2024 at a current rent of £40,000 p.a. and the lease contains internal repairing and insuring covenants by way of service charge. Tenant option to determine on 01.07.27 with min 6 months notice. Break clause in 2026 NOT exercised. Tenant in occupation since 2018, having expanded from a smaller unit within Blenheim Court.
Tenure:
Long leasehold. Held on a 125 Year lease from 7th July 1989 at a ground rent of £4,999.95 p.a. Reversion 2114. There is an overriding headlease for Blenheim Court, which contains provision for five yearly upward only ground rent reviews. The review provisions assume a single letting of the entire development with the total ground rent geared to 30% of the agreed Market Rent. This figure is then apportioned between the individual units on a floor area basis.
Tenure:
Long leasehold. Held on a 125 Year lease from 7th July 1989 at a ground rent of £4,999.95 p.a. Reversion 2114. There is an overriding headlease for Blenheim Court, which contains provision for five yearly upward only ground rent reviews. The review provisions assume a single letting of the entire development with the total ground rent geared to 30% of the agreed Market Rent. This figure is then apportioned between the individual units on a floor area basis.
| Unit | Unit Size | Condo Use | Price | NOI |
| Unit 9 | 5,525 SF | Office | $2,575,073 ($466.08/SF) | $192,872.98 |
| Unit 10 | 968 SF | Office | $594,248 ($613.89/SF) | $52,822.01 |
Unit 9
| Unit Size |
| 5,525 SF |
| Condo Use |
| Office |
| Price |
| $2,575,073 ($466.08/SF) |
| NOI |
| $192,872.98 |
Unit 10
| Unit Size |
| 968 SF |
| Condo Use |
| Office |
| Price |
| $594,248 ($613.89/SF) |
| NOI |
| $52,822.01 |
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Unit 9
| Unit Size | 5,525 SF |
| Condo Use | Office |
| Price | $2,575,073 ($466.08/SF) |
| NOI | $192,872.98 |
| Sale Type | Investment |
| Cap Rate | 7.49% |
| Tenure | Long Leasehold |
| Description | |
| Unit 9 comprises self-contained office premises arranged over ground, first and second floor. The property benefits from 7 car parking spaces and provides the following accommodation and dimensions:<br> Ground floor reception: 77.9 sq m (839 sq ft)<br> First Floor office: 201.0 sq m (2,164 sq ft)<br> Second floor office: 234.3 sq m (2,522 sq ft)<br> Total GIA: 513.2 sq m (5,525 sq ft)</li></ul> | |
| Sale Notes | |
| The property is at present let to Camden & Islington NHS Foundation Trust for a term of 10 Years from 25th March 2023 at a current rent of £146,000 p.a. and the lease contains internal repairing and insuring covenants by way of service charge. Rent review on 25.03.28 open market upward only. Tenant option to determine on 25.03.28 with min 6 months notice. Tenant in occupation since 2016 and currently on their third lease renewal.<br> <br> Tenure:<br> Long leasehold. Held on a 125 Year lease from 7th July 1989 at a ground rent of £25,999.75 p.a. Reversion 2114. There is an overriding headlease for Blenheim Court, which contains provision for five yearly upward only ground rent reviews. The review provisions assume a single letting of the entire development with the total ground rent geared to 30% of the agreed Market Rent. This figure is then apportioned between the individual units on a floor area basis.</li></ul> |
1 of 0
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
Unit 10
| Unit Size | 968 SF |
| Condo Use | Office |
| Price | $594,248 ($613.89/SF) |
| NOI | $52,822.01 |
| Sale Type | Investment |
| Cap Rate | 8.89% |
| Tenure | Long Leasehold |
| Description | |
| Unit 10 comprises self-contained office unit at ground floor. The property benefits from 1 car parking space and provides the following accommodation and dimensions:<br> Ground Floor: 89.9 sq m (968 sq ft)<br> Open plan office, 3 rooms, wc</li></ul> | |
| Sale Notes | |
| The property is at present let to Fittleworth Medical Ltd for a term of 5 Years from 1st July 2024 at a current rent of £40,000 p.a. and the lease contains internal repairing and insuring covenants by way of service charge. Tenant option to determine on 01.07.27 with min 6 months notice. Break clause in 2026 NOT exercised. Tenant in occupation since 2018, having expanded from a smaller unit within Blenheim Court.<br> <br> Tenure:<br> Long leasehold. Held on a 125 Year lease from 7th July 1989 at a ground rent of £4,999.95 p.a. Reversion 2114. There is an overriding headlease for Blenheim Court, which contains provision for five yearly upward only ground rent reviews. The review provisions assume a single letting of the entire development with the total ground rent geared to 30% of the agreed Market Rent. This figure is then apportioned between the individual units on a floor area basis.</li></ul> |
Property Facts
The following property facts and amenities apply to the entire building. Details for individual condo units may vary and are listed in the unit information above.
| Total Building Size | 15,737 SF | Typical Floor Size | 5,246 SF |
| Property Type | Year Built | 1988 | |
| Building Class | B | Lot Size | 47.00 AC |
| Floors | 3 | Parking Ratio | 0.38/1,000 SF |
| Total Building Size | 15,737 SF |
| Property Type | |
| Building Class | B |
| Floors | 3 |
| Typical Floor Size | 5,246 SF |
| Year Built | 1988 |
| Lot Size | 47.00 AC |
| Parking Ratio | 0.38/1,000 SF |
Amenities
- 24 Hour Access
- Courtyard
- Fenced Lot
- Security System
- Kitchen
- Accent Lighting
- Central Heating
- Direct Elevator Exposure
- Natural Light
- Air Conditioning
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Major Tenant Information Click Here to Access
| TENANT | SF Occupied | LEASE END DATE |
|---|---|---|
| Electro Tech Colour Ltd |
-
|
Jan 0000
|
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62 Brewery Rd - Blenheim Court
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