SUMMARY

• 17onebedroomflatswithNIAof10,058sqft• LetonAST’swithcurrentrent/ERVof£411,372p.a• DevelopedbyBerkeleyHomesin2003• Opportunitytoupgradetoimproverentalreturn• Closetoshops,restaurantsandvibrantnightlifeofClerkenwellandideallyplacedfortheCity• CloseproximitytoFarringdonCrossrailstation,duetoopenin2018• OffersinvitedfortheLongLeaseholdinterests

LOCATION

BrewerySquareislocatedwithintheLondonBoroughofIslingtonontheeastsideofStJohnStreet,oneofthe

iconicstreetsformingtheuniquetownscapeofFarringdonandClerkenwell.

Theimmediateareacomprisesofperiodwarehouseandfactory conversions, mixed with a range of modernistarchitecture.

This City fringe location is one of themost fashionableanddesirableareasofLondon.Totheeast isOldStreetroundabout,hometoTechCityandtheexplosionoftheUKtechandcreativeindustries.TothesouthisSmithfield,StBartholomew’sHospitalandtheCity.TothenorthwestisKing’sCross,whilsttothesouthwestisFarringdonandtheareaofregenerationasaresultofCrossrail.

Anabundanceofamenitiesincludingshops,restaurants,bars and entertainment facilities are within walkingdistanceoftheproperty.

CLERKENWELL ROAD

KING’S CRO

SS ROAD

A520

0

ROSEBERY A

VENUE

8 minute walk* 9 minute walk*

RO

SE

BE

RY

AV

EN

UE

A20

1

OLD STREET

CLERKENWELL ROAD

GO

SW

ELL R

OA

D

A5

01

A50

1

A50

1

PEAR TREE STREET

LEVER STREET

PERCIVAL STREET

ST JO

HN

STR

EET

GO

SWELL R

OA

D

OLD STREET

MOORGATE

BARBICANFARRINGDON

CHANCERY LANE

KING’S CROSS ST PANCRAS

ANGEL

BE

RR

Y S

TR

EE

T

NO

RTH

AM

PTO

N R

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D

MYDDELTON STREET

LOCATION

Farringdon station is approximately0.4 miles from Brewery Square and

isoneofLondon’smainhubstationsforCrossrail which is due to open in 2018.This will transform connectivity acrossthe east-west axis of London, ensuringjourneytimesintothecentreofthecapitalare dramatically reduced. Farringdonis already connected to mainline trainservices (Thameslink servingBrighton toLuton) andalso theunderground (Circle,Hammersmith & City and Metropolitanlines).

Thereareanumberofbusroutespassingalong Clerkenwell Road, immediately tothesouthofthepropertyservingIslington,HolbornandtheWestEnd.

CONNECTIVITY

LONDONUNDERGROUND

BRITISHRAIL

PARKS

*WalkingtimessourcedfromGoogleMaps

ACCOMMODATION

Theportfoliocomprisesof17xonebedapartments.Floorplansofeachflattypeareavailableonrequest.

10oftheflatsarelocatedinCannonCourt,whilsttheremaining7areinGardnerCourt.

The17flatshaveagrossinternalfloorareaof10,278sqft.

The Schedule of Accommodation provides greaterdetailoftheportfoliosaccommodation.

TENURE

Eachflat isheldona999year leasecommencingfrom2000,thushavingapproximately984yearsun-expiredoftheterm.

Theleaseoneachflathasagroundrentof£200pa(1GardnerCourthasagroundrentof£400pa).

TENANCIES

The flats have all been let on Assured ShortholdTenancies.Atthetimeofpreparingtheseparticulars,15flatswereletwith2vacant.

Copiesofall the tenancyagreementsareavailableonrequest.

Brewery square was developed in 2003 by Berkeley Homes and is made up of 3 modernistresidentialblocksbuildaroundanopencourtyard.AccessisgaineddirectlyfromStJohnStreet

andleadstothesubjectapartments.Atgroundfloor,thereareofficesincludingarchitectsaswellasarangeofshops.

Theupperfloorsarearrangedoversixfloors.Thebuildingshaveacontemporarylookwithsheetmetalcladding,irregularfloorplates,andlargeglazedbalconies.

TheSchedule of Accommodation details the incomegenerated fromeach flat. It alsodetailstheapproximateannualservicechargepayableforeachflat.

THEFARRINGDONRESIDENTIALMARKET

DatafromLandRegistryindicatesthatresidentialpropertypricesintheLondonBoroughofIslingtonfortheyeartoFebruary2016increasedby6.97%.

TheintroductionofCrossrailin2018isalreadyhavingaprovenupwardeffectonpropertyprices incloseproximity to theCrossrailStations.TheClerkenwellandFarringdonareashavealreadyseenasubstantialgentrificationandverysignificantincreasesinvalueswhichwebelievearesettocontinueintheshortandmediumterm.

INCOMEANDSERVICECHARGE

THEINVESTMENTOPPORTUNITY

Theportfolioislocatedinatrulysuperbposition.ThecoolvibeofStJohnStwithitsrestaurants,barsandaccesstoSmithfieldisonthedoorstep,

whilsttheCity,MidTownandWestEndareallwithinwalkingdistance.

FarringdonStationwillbecomeoneofCentralLondon’smaintransporthubsonceCrossrailopensin2018.Thiswillundoubtedlyhaveatransformationaleffect on the immediate area around the stationwith prices set to rise asdemandsurgesforresidentialandcommercialspace.

KingsCross isalsowithinwalkingdistance.Thisstation isalreadyamaintransport gateway to Central London, as well as providing national andinternationaltravelservices.KingsCrosswillalsobecomeamainemploymentareaasthenewGoogleandotherofficedevelopmentscomeon-stream.

Theflatsthemselveshavenotbeenupdatedsincetheyweredeveloped in2003.Thereistheopportunitytoenhancetherentalreturnthroughupgradingoftheunits,particularlythekitchensandbathroomstomaximisetheincomegeneratedfromtheunits.

EPC

EPC’sforeachofthepropertiesareavailableonrequest.

VAT

WeunderstandthatthesaleofthepropertywillnotbesubjecttoVAT.

Price

Offersareinvitedforthe17longleaseholdinterestssubjecttotheexistingtenancies,subjecttocontract.

SCHEDULEOFACCOMODATION

PORTFOLIO OF 17 FLATS AT BREWERY SQUARE, LONDON, EC1

SCHEDULE OF ACCOMMODATION AND POTENTIAL REALISATIONS

Terrace/ GIA GIA Tenancy Rent / ERV RentBalcony sq m sq ft Comm Date £ pw £ pa

Cannon Court1 1st 1 Y 55.8 601 Oct-15 £485 £25,220 £2,549 £675,000 £1,1238 2nd 1 N 54.9 591 Apr-15 £460 £23,920 £2,796 £665,000 £1,125

10 2nd 1 Y 54.0 581 Apr-16 £495 £25,740 £2,497 £725,000 £1,24813 3rd 1 N 61.3 660 Jun-15 £414 £21,528 £1,849 £675,000 £1,02315 3rd 1 Y 54.0 581 Mar-16 £465 £24,180 £2,497 £700,000 £1,20518 4th 1 Y 55.8 601 Jun-15 £469 £24,388 £2,549 £715,000 £1,19019 4th 1 Y 66.1 711 May-15 £505 £26,260 £3,021 £795,000 £1,11824 5th 1 N 55.8 601 Jul-15 £454 £23,608 £2,549 £695,000 £1,15625 5th 1 Y 61.0 657 May-15 £490 £25,480 £2,796 £750,000 £1,14230 6th 1 N 54.9 591 On Market £485 £25,220 £2,796 £705,000 £1,193

6175 £4,722 £245,544 £25,898 £7,100,000 £1,150Gardner Court

1 1st 1 N 65.8 708 Jun-10 £431 £22,412 £3,519 £750,000 £1,0594 1st 1 Y 58.2 627 Sep-15 £500 £26,000 £2,991 £700,000 £1,1165 1st 1 N 50.5 544 On Market £450 £23,400 £2,703 £625,000 £1,149

12 2nd 1 N 50.5 544 Apr-16 £465 £24,180 £2,703 £630,000 £1,15818 3rd 1 N 50.5 544 Apr-09 £398 £20,696 £2,703 £640,000 £1,17619 3rd 1 N 50.5 544 Feb-13 £470 £24,440 £2,703 £640,000 £1,17620 3rd 1 Y 55.0 592 Sep-14 £475 £24,700 £2,887 £715,000 £1,208

4103 £3,189 £165,828 £20,208 £4,700,000 £1,146

TOTALS 10278 £7,911 £411,372 £46,106 £11,800,000 £1,148

Lease Duration: Commenced 01/01/2000 for 999 yearsGround Rents: All £200 p/a (with the exception of Flat 1 Gardner Court @ £400 p/a)

The above figures are given in connection with agency advice only.They do not constitute formal valuations and should not be relied upon as such.

Unit Indicative Value £ Rate £ psf

Service Charge P/A

BedsFloor

20/04/2016

Simon Davidsons.davidson@currell.com020 7359 2274

Richard Entwisler.entwisle@currell.com020 7226 6611

Grant Kayegrant.kaye@surveyors-valuers.com020 7061 1100

CONTACT