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PROPERTY PARTICULARS |
Property Consultants
Peek House, 20
Eastcheap, London EC3M 1NP
Tel. 020 7456
0700
Fax 020 7247 4422
e-mail:
info@newtonperkins.com |
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6 LOVAT LANE
LONDON EC3
FREEHOLD FOR SALE
OF INTEREST TO INVESTORS AND/OR OWNER
OCCUPIERS
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LOCATION: |
The building
is located at the junction of Lovat Lane
and Botolph Alley, an attractive
pedestrianised area just south of Eastcheap. It is
in close proximity to Lloyds and the LUC,
and to Monument and Bank
underground stations.
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BUILDING: |
Comprising a
period office building with central
heating and automatic passenger lift
arranged on basement, ground and four
upper floors. The building is not
Listed, but is within the Lovat Lane
Conservation area. |
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ACCOMMODATION: |
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4th
Floor |
450 sq
ft |
(
41.8m2) - Let |
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3rd
Floor |
625 sq
ft |
(
58.1m2) - Vacant |
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2nd
Floor |
640 sq
ft |
(
59.5m2) - Let |
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1st
Floor |
640 sq
ft |
(
59.5m2) - Let |
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Ground
Floor |
640 sq
ft |
(
59.5m2) - Vacant |
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Basement |
530 sq
ft |
(
49.2m2) - Let |
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Total |
3,525
sq
ft |
(327.6m2)
- Let |
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TENANCIES &
INCOME: |
Current rental income
£43,430 per annum (part vacant) on four
leases expiring 23 February 2007 all
excluding tenants' statutory rights to
security of tenure and compensation (see
over for details). |
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VAT: |
The building
has not been elected for VAT, and
therefore VAT should not be charged on the
purchase price. |
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PROPOSAL: |
Offers are
invited for the freehold interest in
excess of £960,000 (a capital value
of about £272 per sq ft overall at this
level). |
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ENQUIRIES & VIEWING: |
Please contact
either:-
Newton Perkins
Tony Wollaston– 020 7456 0723
e-mail –
agw@newtonperkins.com
Jonathan Beilin – 020 7456 0727
e-mail –
jb@newtonperkins.com
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All negotiations to be subject to contract
and satisfactory references |
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MISREPRESENTATION ACT 1967. Messrs
Newton Perkins for themselves and for
the vendor (including the Lessor, as
the case maybe) of this property,
whose agents they are. give notice
that (i) these particulars do not
constitute any part of an offer or
contract. (ii) None of the statements
contained in these particulars as to
this property are to be relied upon as
statements of representations of fact.
(iii) Any intending Purchaser
(including the Lessee, as the case may
be) must satisfy himself by inspection
or otherwise as to the correctness of
each of the statements contained in
these particulars. (iv) The Vendor
does not make or give and neither
Messrs Newton Perkins nor any person
in their employment has any authority
to make or give any representation or
warranty whatsoever in relation to
this property. Unless otherwise stated
all prices and rents are quoted
exclusive of Value Added Tax. |
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6 Lovat Lane London EC3
Tenancy Schedule
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Floor
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Tenant
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Floor Area
Sq Ft
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Rent (pax)
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Rent (psf)
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Lease term
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Comments
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4th |
The Joint Educational Trust |
450 |
£10,125 |
£25.00 |
From 18/12/01,
expiring 23/02/07 |
Full recovery lease “outside L&T
Act”.
Rent review 23/02/04 not actioned. |
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3rd |
Vacant |
625 |
N/A |
Quoting £17.00 |
N/A |
Available on new lease by arrangement. |
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2nd |
Robert Brown & Partners Limited |
640 |
14,400 |
£25.00 |
5 year lease expiring 23/02/07 |
Full recovery lease “outside L&T Act”. |
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1st |
I.U.A.I. Limited (International Union
of Aviation Insurers) |
640 |
£14,400 |
£25.00 |
5 year lease expiring 23/02/07 |
Full recovery lease “outside L&T Act”. |
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Grd |
Vacant |
640 |
N/A |
Quoting £20.00 |
N/A |
Available on new lease by arrangement. |
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Bsmt |
Futures VTA Limited |
530 |
£4,505 |
£8.50 |
5 year lease expiring 23/02/07 |
Partial recovery lease “outside the
L&T Act”.
2004 service charge shortfall
£1,396.50. |
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TOTAL |
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3,525 |
£43,430 pa
(excluding basement service charge
shortfall) |
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