Saffron Hill Car Park occupies a virtual island site with prominent frontages on Saffron Hill, St Cross Street and Saffron Street. Comprising 353 car parking spaces with 11,750 sq ft of office space, on a site area of 0.37 acres. Camden is seeking offers in excess of £3,180,000 subject to contract and exclusive of VAT.
Investment Rationale
- Virtual island site with three street frontages
- Unrivalled transport connections with close proximity to Farringdon Station
- Long let income secured against the covenant of CP CO 7 (net worth £52m)
- Pre 1996 lease with resultant privity of contract implications
- Future potential to increase rental value
- Potential to negotiate with the tenant regarding the future of the site
- Excellent potential redevelopment prospects subject to vacant possession and planning
Clerkenwell & Farringdon are Central London’s most exciting urban villages, with the emergence of high end residential schemes, as well as being a favoured destination for companies in the creative, technology, media and fashion industries.
An established centre of culinary excellence, Clerkenwell is home to some of the best restaurants in London; St John, The Bleeding Heart, the Michelin starred Comptoir Gascon, Le Café du Marché, Smiths of Smithfield and Bird of Smithfield.
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Transport links in this location are exceptional |
Farringdon Station is 300 metres / 2 minutes walk. National Rail services as well as the Circle, Hammersmith & City and Metropolitan tube lines run from Farringdon Station, which has been substantially upgraded.
Thameslink provides direct access by rail into Farringdon Station from the north and south. Towns with direct links include St Albans, Brighton, Wimbledon and Sevenoaks.
Gatwick and Luton Airports can both be reached in under an hour using the direct Thameslink rail service.
Chancery Lane is also close by providing easy access to the City and the West End via the Central Line. St Pauls Underground Station is only 1.1km / 12 minutes walk.
Crossrail is due for completion in 2018, over 140 trains per hour will flow through the Farringdon interchange. Farringdon is set to become the only station in London to offer access to all three services; Underground, Crossrail and Thameslink.
Crossrail will connect 37 stations, including Heathrow Airport and Maidenhead in the west with Canary Wharf, Abbey Wood and Shenfield in the east.
Farringdon will become one of Britain’s busiest train stations, and will be a key link in bringing passengers from outer London to Midtown, The City and Canary Wharf.
