Capitalising on the intense interest in this area of fringe Central London, Croudace Properties has sold 80 Clerkenwell Road to a UK based institutional investor.
Croudace obtained planning consent for a 2,500 sq ft extension to the existing 11,000 sq ft office building and a change of use on the ground floor. With vacant possession due, the purchaser has the opportunity to create a highly prominent corner showroom and Grade A offices in the heart of Clerkenwell, close to the Farringdon Crossrail station.
Neil Scott, Director of Croudace Properties, provided some background. "Obtaining planning permission for the extension was a long and arduous process but it added significant value as the location is highly sought after by occupiers and investors alike. The property produced a good rental income throughout our ownership and we were able to use this period to maximise the planning consent. We are very pleased with the price achieved".