Description

JLL as sell-side advisor is pleased to present The Old Sorting House, Angel, N1.

The Old Sorting House is a former 19th-century postal hub in the heart of Islington, redeveloped by Ben Adams Architects. Its industrial heritage sits alongside contemporary, well-specified offices, all on a prominent corner freehold.

The building provides 19,603 sq ft NIA arranged over lower ground, ground and two upper floors. A 2018 structural redevelopment and 2024 refurbishment have created multi-let fitted space with excellent end-of-trip facilities and a second-floor roof terrace. The building is EPC B, BREEAM ‘Excellent’ and all-electric.

The property is fully let to three tenants, producing a topped-up passing rent of £1,056,780 per annum (£53.91 psf overall), let in its majority to Pentagram Design. The WAULT is 6.44 years to expiries and 3.17 years to breaks, with 100% of the income secured against tenants rated Low to Very Low Risk by CreditSafe.

Chapel Market, Upper Street and Camden Passage are on the doorstep, with Angel, Essex Road and Highbury & Islington stations close by.

Offers are invited for the freehold interest, subject to contract and exclusive of VAT.

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Attributes

Tenure

Freehold

Building area net

1,821 m²

Number of floors

Occupancy

100%

Year built

1855

Year renovated

2018

Total Annual Rent

€1,267,698.19

Rent PSF

€64.67

WAULT to expiries

6.44 years

WAULT to breaks

3.17 years

BREEAM

Excellent

EPC

Grade B

Media

Investment Highlights

Prominent corner freehold in the heart of Angel, Islington
19,603 sq ft NIA over lower ground, ground and two upper floors
Multi-let to three tenants, producing a topped-up passing rent of £1,056,780 per annum (£53.91 psf)
WAULT of 6.44 years to expiries and 3.17 years to breaks
100% of income secured against tenants rated Low to Very Low Risk by CreditSafe
2018 structural redevelopment and 2024 refurbishment, with a second-floor roof terrace
EPC B and BREEAM ‘Excellent’