A well located, small, single let investment property in a central King's Cross location that requires minimum hands on property management

Key Points

• Attractive town house style building
• 1,445 sq. ft. NIA | 2,201 sq. ft. GIA
• Back to bare brick refurbishment in 2022
• Single let to a serviced consulting room provider
• £100,000 PA income
• 1 minute from King's Cross Station
• No VAT on purchase price
• Lease expiry in September 2037
• Rent reviews in 2027 and 2032
• Tenant break clause in 2032
• Potential to acquire the SPV holding company rather than a property

Description

1 Birkenhead Street is a Grade II listed building that benefitted from a back to bare brick reconstruction to the highest standards in 2022 and has since been let to a serviced consulting room provider.

The accommodation is arranged over lower ground, ground and 3 upper floors with a small courtyard garden to its rear.

All upper floors are divided and used as self contained consulting rooms.

The lower ground floor is arranged as a consulting room, kitchen, central WC hub and shower.

Available area

The accommodation comprises the following areas:

Location

This property is located in King's Cross, London's most connected destination.

1 Birkenhead Street is situated very close to the junction with Euston Road.

Birkenhead Street is perpendicular to the A501 Euston Road and is 1 minute from King's Cross Station & St. Pancras Stations and all central amenities.

King's Cross Station provides access to London Underground's Metropolitan, Circle, Hammersmith + City, Northern, Victoria and Piccadilly lines as well as main line services.

St. Pancras Station provides mail line and international rail services.

Tenure

1 Birkenhead Street has a freehold interest, Title No LN110947, subject to the existing tenancy.

Tenancy

1 Birkenhead Street is leased in its entirety to A Room in Town (K Cross) LTD on a lease expiring on 12 September 2037 and at the rent of £100,000 PA, payable on the usual quarter days. A Room in Town (K Cross) Ltd is company number 12942690.

Planning

This building's planning use is under historic B1 Office / D1 use and would now fall under Class E.

1 Birkenhead Street is Grade II listed and situated within the King's Cross St Pancras Conservation area.

Dedicated website

Further information, photos, floor plans etc can be viewed at https://bit.ly/1BirkenheadStreet

Ashurst Real Estate

if this property is not what you are looking for, you can see our other available properties at https://bit.ly/AshurstREproperties

Adjoining building sale

Ashurst Real Estate is also selling the 5,000 sq. ft building immediately to the rear of 1 Birkenhead Street, known as The Mews, 1a Birkenhead Street.

Details of The Mews can be found here https://bit.ly/TheMewsBirkenheadStreet

Energy Perormance

1 Birkenhead Street has an energy performance rating of C.

Alternative Uses

1 Birkenhead Street would suit conversion of residential or educational uses, subject to obtaining the relevant consents.

VAT

1 Birkenhead Street is not elected for VAT.

Anti Money Laundering Regulations 2017

Ashurst Real Estate is obliged to conduct AML due diligence on a prospective purchaser once heads of terms are agreed.

Proposal

Offers in the region of £1,500,000 are invited for the shares in the SPV that holds this property, thereby potentially allowing a considerable saving in stamp duty.

Alternatively, the freehold interest can be purchased for a price in the region of £1,500,000, subject to contract.