Office for sale

19 Waterside, 44-48 Wharf Road, N1

Income producing investment in attractive warehouse style building

New 5 year lease from March 2018 to Panasonic UK

Rent of £55 per sq. ft.

Close to "Silicon Roundabout"

Double height space to main area

Attractive bare timber finish to underside of roof.

Exposed iron support columns and roof trusses

Desirable Crittal framed windows overlooking Wenlock Basin

Double timber framed loading doors overlooking a cobbled courtyard

Good natural light

Ideal for an investor or an owner occupier with time on his hands

19 Waterside, 44-48 Wharf Road, London N1 7UX

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Wharf Road is located between two of central London's trendiest places; Angel to the north and Old Street to the south. Both within a 10 minute walk in either direction. On one side of Wharf Road is Wenlock Basin, which leads into Regents Canal, and on the other side City Road, which has been become a major residential destination with four of the world's top architects, including Lord Foster and Sir Terry Farrell, designing towers there since 2013.
Local authority: Hackney

Units & floor plans

Floor Size
Mezzanine
585
2nd
1,409
Totals
1,994

* All sizes NIA

  • 5645 floor plan   19 waterside 0 3 1 %281%29

Find out more information about this building's development and technical spec.

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Transport

Situated midway between Angel (Northern Line ) and Old Street (Northern Line and mainline services). Both are an approximate 10 minutes walk

Wharf Road is conveniently located for train access both north and south London. Similarly, City Road has numerous buses running along it, providing road transport to many points in central London.

National rail

Old Street 0.5m, Essex Road 0.6m, Hoxton 0.9m

Tube

Angel 0.4m, Old Street 0.6m, Essex Road 0.6m

Offers

Offers in excess of £1,850,000.

Further information

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Lease overview

A long leasehold interest commencing on 25 March 1987 and expiring on 24 March 2112.

Period 125 years
Start year 1987
Remaining 94 years
Tenancy schedule
Tenant Rent (p.a.) Start date Expiry date Break option
Panasonic UK£109,67018/03/201817/03/202317/03/2021
Covenant overview

Panasonic UK is a research and development department of Panasonic's European operations and is underwritten with net assets of close to a billion Euros.

Covenant schedule
Tenant Turnover Pre-tax profit Net current assets
Panasonic UK, a d...More-£23,321,128£0£914,478,458
Planning overview

Waterside is a Grade II listed building and is within the Regents Canal Conservation Area

Planning class

B1

Development potential

This property has potential to convert to residential or live work space, subject to planning and freeholder consent.

This has already been carried out to a number of properties within the development.

Asset management

Asset management opportunities include re-gearing the head lease lease or would suit an owner occupier looking to purchase their own piece of Old Street.

VAT

This property is not elected for VAT.

EPC
Certificate Available on request

Media store

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Property marketed by:

6th Floor, Queens House, 55-56 Lincoln's Inn Fields, London WC2A 3LJ
Fresson and Tee
Fresson and Tee
Quote reference: DS/24135

A unique opportunity to purchase a highly desirable, income producing office investment that is leased to Panasonic UK on a new 5 year lease, commencing in March 2018.

£1,850,000

Fresson & Tee give notice that the information contained in these particulars is intended as a general outline only for the guidance of an intended purchaser/lessee and neither Fresson & Tee nor the vendor/lessor, on whose behalf these particulars are provided accept any responsibility for any inaccuracies the particulars may contain. An intending purchaser or lessee should not rely upon them as statements or representations of fact and should satisfy themselves by inspection or otherwise to their accuracy. Prices and rents are deemed subject to contract and unless otherwise stated, are quoted exclusive of VAT. All floor areas and measurements are approximate. These particulars do not form a part of any offer or contract. Neither Fresson & Tee nor any of their employees have any authority, either orally or in writing, to make or give any representation or warranty in relation to the properties. Fresson & Tee have not tested any of the services and we recommend that a purchaser or tenant satisfies themselves as to their condition and suitability prior to entering into a legally binding contract.