Retail for sale

Medivet Portfolio

Opportunity to acquire a portfolio of two single let commercial units

Established location in the heart of Bloomsbury and Clerkenwell, with excellent connections across London

Let to Medivet Group Limited

Approximately 14.86 years unexpired lease terms

Total current income of £150,000 per annum exclusive

Seeking offers in excess of £2,700,000 subject to contract and exclusive of VAT for the benefit of our client’s long leasehold interests. A purchase at this level would reflect a net initial yield of 5.21%, after purchasers’ costs of 6.41%

Offers may be considered for the individual units
The properties are situated in the established Central London locations of Bloomsbury and Farringdon. Both are a short distance from Farringdon Station (Elizabeth Line – Dec 2019). Farringdon is one of Central London’s most diverse and thriving districts, with an eclectic mix of culture and amenities. In the surrounding areas there is an ever expanding list of popular restaurants and high profile office occupiers all anticipating the arrival of Crossrail.
Local authority: LB Camden, LB Islington

Units & floor plans

Unit Floor Size Notes
45 Grays Inn Road Ground
545
50.63
Lower Ground
512
47.57
15 Clerkenwell Road Ground
3,046
282.98
Includes a secure underground car parking space
Totals
4,103
381.18

* All sizes GIA

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

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Transportation

Airports

London City 7.4m, London Heathrow 15.3m, London Gatwick 26.0m

National rail

Farringdon 0.4m, City Thameslink 0.7m, London Kings Cross 0.7m

Tube

Chancery Lane 0.2m, Farringdon 0.4m, Holborn 0.4m

Offers

Seeking offers in excess of £2,700,000 subject to contract and exclusive of VAT for the benefit of our client’s long leasehold interests. A purchase at this level would reflect a net initial yield of 5.21%, after purchasers’ costs of 6.41%

Further information

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Tenancy schedule
Floor / Demise Tenant NIA (sq ft) Rent (p.a.) Start date Expiry date Next review
45 Grays Inn RoadMedivet Group Ltd1,057£42,00031/01/201831/01/203331/01/2023
15 Clerkenwell RoadMedivet Group Ltd3,046£108,00031/01/201831/01/203331/01/2023
Covenant schedule
Tenant Turnover Pre-tax profit Net current assets D&B rating % of income
Medivet Group Lim...More£78,621,682£3,583,953£17,021,079N1100
Planning overview

Veterinary clinic within Use Class Sui Generis or B1 or D1 (with Landlord Consent)

VAT

The properties are elected for VAT. It is intended that the sale will be
treated as a Transfer of a Going Concern.

EPC
Certificate Available on request

Media store

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Property marketed by:

165 Fleet Street, London EC4A 2DW
Daniel Watney
Daniel Watney
Quote reference: SALE-29233

Rare London Portfolio Investment Opportunity

£2,700,000 (offers in excess of)

‘Daniel Watney LLP themselves and for the vendors or lessors of this property whose agents they are, have taken all reasonable steps to ensure the accuracy of these particulars which are a general outline only and do not constitute the whole or any part of an offer or contract. The information is given in all good faith but intending purchasers and lessees must satisfy themselves independently as to the accuracy of all matters upon which they intend to rely. Daniel Watney LLP is a limited liability partnership regulated by RICS. A list of members is available at our registered office Registered in England. Registered number OC356464. Registered office as address.’