Investment Summary

• Rare opportunity to acquire a highly prominent, attractive mixed-use freehold investment in the heart of Farringdon.
• Prominent position on West Smithfield, directly opposite Smithfield Market.
• Excellent connectivity within 150m of the Elizabeth Line at Farringdon station.
• Farringdon has benefited from the arrival of the Elizabeth Line at Farringdon station, both in terms of improving connectivity and a major driver for inward investment, development and attracting new occupiers to the area including TikTok, Snap Chat and Goldman Sachs.
• 57-29 West Smithfield provides 2,915 sqft of well configured restaurant and bar accommodation over ground and basement levels.
• Multi-let to two commercial tenants with a WAULT of 8.1 years to lease expires.
• Two separate units operated by Michelin starred Club Gascon, and Le Bar, who have traded from this location for over 20 years. Each unit benefits from dual or triple frontages.
• The commercial accommodation provides a total income of £76,057 pa, with immediate opportunities for reversion.
• The upper parts comprise 17 apartments, which have been sold off on long leases. Current ground rent income of £7,850 pa.
• Total passing rent of £83,907 pa, providing excellent potential for growth

Our client is seeking offers in excess of £1,600,000 (One Million, Four Hundred Thousand Pounds) for the freehold interest, reflecting a net initial yield of 4.94% and a low capital value of £549. Subject to Contract and Exclusive of VAT.