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The Poppy Building - Brewhouse Yard

St John Street London EC1

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EXECUTIVE SUMMARY

• Virtual Freehold

• Prime Clerkenwell location situated approximately five minutes’ walk from Farringdon Station

• The property provides 796 sq m (8,782 sq ft) of office, retail and D1/D2 accommodation arranged over ground and four upper floors

• The property is vacant and provides opportunities for either owner occupiers or investors looking to take advantage of the strong occupier demand in the location

• Offers are sought in excess of £3,650,000 which reflects a low capital value of £415 per sq ft

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LOCATION

Brewhouse Yard is located in the heart of Clerkenwell, approximately 500m from Farrringdon Station and in close proximity to Old Street and the “tech hub”. The area is the favoured destination for creative, fashion, telecoms, media and technology industries attracted by the eclectic mix of cafes, bars and restaurants. Historic landmarks such as Smithfield Market and Exmouth Market provide the back drop for restaurants such as St John, Moro, Bistrot Bruno Loubet and Café du Marché.

The area has attracted a range of occupiers including WPP, Grey Advertising, Alexander McQueen, Agent Provocateur and Ben Sherman.

The property benefits from its proximity to Farringdon Station which is less than a 5 minute walk away and provides access to The Circle, Metropolitan and Hammersmith & City lines as well as Thameslink offering direct access to Gatwick and Luton airports.

Farringdon is also set to significantly benefit from Crossrail with trains scheduled to be running from 2018. Crossrail is Europe’s largest infrastructure project providing direct rail links between Stratford in the East and Maidenhead in the West. The service will enhance capacity across Central London by 20% with over 250 million passengers a year using the service which will link Heathrow, the West End, the City and Canary Wharf. This project will transform Central London especially in locations close to new or updated stations.

Not to scale. For identification purposes only.

THE POPPY BUILDING

4 SMITHFIELDMARKET

FARRINGDONSTATION

CLERKENWELL ROAD

ST JOHN STREET

OLD STREET

BARBICAN STATION

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THE POPPY BUILDING

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THE PROPERTY

The Poppy Building forms part of Brewhouse Yard, a mixed use development of approximately 110,000 sq ft of residential, supermarket, office and retail accommodation. The Poppy Building provides self-contained office and retail accommodation arranged over ground and four upper floors providing a total of 796 sq m (8,782 sq ft).

The office accommodation is arranged over regular column-free floor plates, benefiting from excellent levels of natural light. The ground floor which benefits from a dual office and retail use was previously used as the development’s site office and requires external glazing.

The property provides the following specification:

• Fully accessible raised floors • Metal tile suspended ceilings with LG7 lighting• 8 person passenger lift• Four pipe fan coil VRF air conditioning• Floor to ceiling heights of 2.6m throughout• WC’s on each floor• Car parking spaces available

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ACCOMMODATION

Floor Use Net Internal Area

Sq M Sq ft

Fourth Office 160 1,722

Third Office 160 1,722

Second Office 160 1,722

First Office 160 1,722

Ground Office/Retail/D1/D2 139 1,496

Ground Reception 17 398

Total 796 8,782Not to scale. For indicative purposes only.

The property provides the following approximate net internal floor areas as measured in accordance with the RICS Code of Measuring Practice (6th Edition):

Typical Upper Floor

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Virtual Freehold.

A new 999 year long leasehold interest at a peppercorn rent is to be sold together with a share in the management vehicle that owns the Freehold of the entire development. Further details available upon request.

The property has never been occupied.

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TENURE

20.0m

20.2m

TCB

Compton Passage

Brewhouse Yard

ST JOHN STREET

1

192 to 196

195

39

Haywards

PH

20 to77

63

181

68a

178

Place

26

69

182 to 186

180

73

68

185

32 to 36

175 t

o 179

1

5

CannonCourt

GardnerCourt

Court

11

Horse Shoe

Saint Paul's

Domecq House

Church House

Buildings

57 to 61

16

12

11

House

House

LindburghHouse

AvedonHouse

Klein

Arbus

1 to 29

Superstore

174

176

1 to 482

54 to 56

9

176

2

3

Not to scale. For identification purposes only. This plan is based upon the Ordnance Survey Map withthe sanction of the controller of H.M. Stationery Office. Crown Copyright reserved.

PLANNING

EPC

The property is located within the London Borough of Islington.

The ground floor of the property has permission for uses within classes A1 - 5, B1, D1 and D2 with the upper parts benefitting from B1 consent.

An Energy Performance Certificate (EPC) is available on request.

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.

For further information please contact:

Oliver Sadler020 7588 4433oliver.sadler@allsop.co.uk

Jonathan Ruback020 7588 4433jonathan.ruback@allsop.co.uk

James Strawson020 7588 4433james.strawson@allsop.co.uk

8 VAT

PROPOSAL

FURTHER INFORMATION

The property has been elected for VAT. www.thepoppybuilding.co.uk

We are instructed to seek offers in excess of £3,650,000 for the virtual Freehold interest, which reflects a low capital value of £415 per sq ft.

Misrepresentation Act 1967Allsop LLP on its own behalf and on behalf of the vendor/lessor of this property whose agent Allsop LLP is, gives notice that: (a) these particulars do not constitute in whole or in part an offer or contract for sale or lease; (b) none of the statements contained in these particulars as to the property are to be relied on as statements or representations of fact; and (c) the vendor/lessor does not make or give, and neither Allsop LLP nor any of its members or any person in its employment has any authority to make or give, any representation or warranty whatsoever in relation to the property. The only representations, warranties, undertakings and contractual obligations to be given or undertaken by the vendor/lessor are those contained and expressly referred to in the written contract for sale or agreement for lease between the vendor/lessor and a purchaser or tenant. Prospective purchasers or tenants are strongly advised to: (a) satisfy themselves as to the correctness of each statement contained in these particulars; (b) inspect the property and the neighbouring area; (c) ensure that any items expressed to be included are available and in working order; (d) arrange a full structural (and where appropriate environmental) survey of the property; and (e) carry out all necessary searches and enquiries. Allsop is the trading name of Allsop LLP. September 2013 (Q2602) www.cube-design.co.uk

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