27 Garlick Hill is a period building on basement, ground and four upper floors totalling 2,268 sq.ft. GIA.
The four upper floors have a C1 use and are fitted out as one bedroom serviced apartments. These floors form part of a larger serviced apartment business, Cove – Cannon St, that is operated by SACO, who are owned by Brookfield. The floors are accessed via the main entrance to Cove which is on Cannon St,
The ground floor and basement comprise a self-contained retail unit, currently fitted out as a sandwich bar.
The city of London is a global leader for the world’s financial, insurance and business services. A mix of modern and period architecture combined with numerous historical and cultural landmarks make the city one of the most visually distinctive and enriched environments within the capital,
27 Garlick Hill is in the heart of the city, within 350m of the Bank of England, 500m of The London Stock Exchange HQ and 900m from Lloyd’s of London.
The entire property is held on a lease from Trust for London for a term expiring on 28th October 2132. The ground rent payable under the terms of the lease is based on 10% of rents received and is subject to a minimum payment of £8,924pa.
The property is elected for VAT and it is envisaged that the sale will be by way of a TOGC.