9 Chapel Place

Free Trade House

Status: Available

Size: 3733 sq. ft. (Approx. NIA)

Address: 9 Chapel Place / 316 Old Street, Shoreditch, London, EC2A 3DQ

Price: 2,895,000 (+VAT)

Business Rates: See note

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Accommodation

The approximate Gross Internal Area totals 4,875 sq. ft. (approx.) - see attached floor area plan.

For letting purposes, the accommodation currently comprises of the following approximate net internal areas:

Ground Floor - 853 sq. ft. (available / vacant)

First Floor - 1,015 sq. ft. (available / vacant)

Second Floor - 1,049 sq. ft. (occupied)

Third Floor - 815 sq. ft. (occupied)

Total N.I.A. - 3,732 sq. ft.

Location

The building is on Old Street between the junctions with Great Eastern Street and Charlotte Road, with Shoreditch High Street further to the east. Chapel Place is an attractive private courtyard development accessed from Rivington Street and Old Street within the vibrant ‘Shoreditch Triangle’. A security guard is employed during the day to look after the estate and direct visitors. This busy mixed-use area is occupied by many creative and tech businesses and is well served by hotels, shops, amenities, transport, eateries and bars. Transport options include Old Street Station, Liverpool Street Station and Shoreditch High Street Station and the area is very well served by buses and bicycle friendly routes.

Description

9 Chapel Place is a commercial building built circa 1989/90 set over four floors with a common entrance from the shared courtyard with stairs and a passenger lift serving the upper floors. The ground floor has level access and also with a self-contained entrance and frontage to Old Street and is suitable for showroom or gallery use or other alternatives under Class E. The unit is open plan with great ceiling height and has been refurbished with engineered wooden flooring and recently redecorated. The space has access to the shared DDA compliant W.C. on the ground floor. The first floor space is currently open-plan with great ceiling height, engineered wooden floors, two demised W.C.s and offers natural daylight from three elevations. The second floor space is sub-divided into small offices by demountable partitions and has a small tea-point and demised W.C. The third floor enjoys extra volume and light from a high vaulted ceiling, engineered wooden floors and both north and south facing windows. The space is mostly open plan with one meeting area partitioned off to the front of the space and also has a small tea-point and demised W.C. All floors benefit from recently installed comfort cooling / heating.

Business Rates

Ground Floor - Rateable Value of £24,750 - Rates Payable 2021/22 estimated at £12,350 First Floor - Rateable Value of £30,500 - Rates Payable 2021/22 estimated at £15,219 Second Floor - Rateable Value of £30,500 - Rates Payable 2021/22 estimated at £15,219 Third Floor - Rateable Value of £21,500 - Rates Payable 2021/22 estimated at £10,728 Interested parties are advised to make their own enquiries to the London Borough of Hackney.

Service Charge

Estate charge is estimated at £2,946 for the current year.

Building Insurance

Contribution to block buildings insurance estimated at £3,302 for the current year.

Additional Details

Tenants / Occupation:

Third Floor - J F Tobias Limited - Lease from 5th August 2019 for a term of five years (expiry 4th August 2024), contracted 'outside The Act'. Passing rent is £38,500 (approx. £47.23 per sq. ft. PAX) without further review. A deposit is held and there is a photographic record of condition. There is a Tenant-only break option on 5th August 2022 upon 6 months prior notice.

Second Floor - currently occupied by a related party on a short Lease, Vacant Possession can be provided on 2 months notice (or possibly sooner).

The Ground and First Floors are both vacant and ready for immediate occupation (both also listed separately for rent).

Further details / documents available on request.

Floor Plans

Click here for the floor plans.
 

Disclaimer

The Statements contained in these Particulars are believed to be correct but their accuracy is not guaranteed and they do not constitute any part of an offer. This Agent and its employees have no authority to make representation or give any warranty in relation to this property. Any intending purchaser/lesser must satisfy themselves by inspection, examination, investigation or otherwise as to the correctness of each of the statements contained in these particulars.