Excellent Northern City Fringe location in close proximity to Highbury & Islington Station and Highbury Fields Park.
The property is well situated at the southern end of Swan Yard, a quiet mews adjacent to popular Upper Street which provides a diverse range of shops, restaurants, pubs and bars.
Headquarters building constructed in the early 2000s providing modern, air conditioned office accommodation.
Approximately 10,428 sq ft of net internal office accommodation arranged over lower ground, ground and two upper floors.
Let to Wowcher Limited on a new 10 year lease from 9th March 2015. Wowcher is the UK’s second largest online voucher website and has seen tenfold growth since its launch in 2011.
The lease is guaranteed by Wowcher’s parent company DMG Media Limited, the consumer media arm of DMGT and one of the United Kingdom’s leading media companies. Benefits from a D & B
rating of 5A1.
The total current passing rent is £367,587 (£35.25 per sq ft) per annum exclusive.
The building benefits from a mixed use planning consent for an additional third storey, highlighting future asset management possibilities.
ƒƒWe are instructed to seek offers in excess of £6,000,000 exclusive and subject to contract for the Freehold interest. This reflects a gross yield of 6.13%, a net initial yield of 5.79% assuming purchaser’s costs of 5.8% and a low capital value of approximately £575 per sq. ft.