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PAUL STREET EC2
PRIME SHOREDITCH FREEHOLD FOR SALE
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• Freehold
• Located in the heart of Shoreditch, London’s ‘Tech City’
• Strategically situated only 150 meters from Old Street roundabout, and also in proximity to Liverpool Street and Moorgate stations, which are set to benefit from the opening of the Elizabeth Line (Crossrail)
• Comprehensive refurbishment in 2016
• The property comprises 8,781 sq ft (815.78 sq m) of contemporary office accommodation arranged over courtyard, ground and four upper floors
• Vacant possession
We are instructed to seek offers in excess of £10,000,000 (1,138 per sq ft), subject to contract and exclusive of VAT, for the freehold interest in the property.
79-81PAUL STREETEC2
INVESTMENT SUMMARY
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WHITE COLLAR FACTORY
OLD STREET STATION
SHOREDITCH HIGH STREET
STATION
THE BOWER
FINSBURY SQUARE
BROADGATE QUARTER
CITY TOWER CLUSTER
PRINCIPAL PLACE
LIVERPOOL STREET STATION
MOORGATE STATION
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79-81 Paul Street is located in the heart of Shoreditch, London’s original “hipster” district and one of London’s major growth and diverse office markets. This vibrant neighbourhood extends from the City of London in the south to Old Street (Silicon) Roundabout in the north.
Shoreditch and Old Street, known as “Tech City”, have become synonymous with the rapidly growing tech, fintech and media sectors. Global Tech behemoths Amazon, Microsoft, Adobe Systems and Google have all opened offices/campuses in Shoreditch over the last 5 years. Furthermore, Transferwise, Blockchain, Seedrs are some of the leading names from the rapidly growing fintech sector that have chosen this location for their global headquarters.
This exciting office market is complemented by a variety of leisure hotspots from globally recognised hoteliers, Nobu Hotel, Shoreditch House and Curtain Hotel, to the newest concept destinations including Bounce, Flightclub and the original Boxpark.
LOCATION – SHOREDITCH
79-81 Paul Street is a highly prominent corner building situated at the northern end of Paul Street, approximately 150 metres from Old Street Roundabout and within close proximity of Leonard Circus. The building is also located 450 metres from Finsbury Square.
Paul Street is a prime Shoreditch address which benefits from excellent transport connections and from being in proximity to the cultural, retail, leisure, restaurant and hotel amenities which are unique to the immediate surrounds.
SITUATION
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Green Eastern StWillow St
Blackall St
Leonard St Leonard St
Cowper St
Clere St Luke St
Singer St Curtain Rd
Charlotte Rd
Rivington St
Old St
City Rd
Old St
Cristina St
Mark St
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79 – 81 Paul Street is situated in one of London’s best connected locations. It benefits from being within walking distance of Old Street, Moorgate and Liverpool Street underground and mainline stations, as well as Shoreditch High Street Overground Station.
CONNECTIVITY
OLD STREET
4 MINUTES
MOORGATE
8 MINUTES
SHOREDITCH HIGH STREET
8 MINUTES
LIVERPOOL STREET
9 MINUTES
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• Scheduled to open in 2021
• Europe’s largest infrastructure project costing in excess of £15 billion
• 1000 km east to west underground line which is fully integrated with existing public transport
• Direct link to the west end in 7 minutes and to Heathrow in 35 minutes
• 24 trains per hour, each capable of transporting 1,500 passengers
• Creating 63,000 new jobs in the City Fringes, the City and Docklands
ELIZABETH LINE(CROSSRAIL)
STATION: MOORGATE/LIVERPOOL STREET
HEATHROW(35 MINS)
PADDINGTON(9 MINS)
BOND STREET(7 MINS)
FARRINGDON(2 MINS)
MOORGATE \ LIVERPOOL ST.
CANARY WHARF(6 MINS)
STRATFORD(8 MINS)
OLD STREET ROUNDABOUTAND STATION UPGRADE
Works are underway to transform Old Street Roundabout and Station. The £50m project will create a new public realm to include seating and green spaces. The redevelopment will dramatically improve safety for road users, access into the underground station and create an impressive entrance to Old Street Station, befitting its status as the gateway to Europe’s Tech City.
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Leonard St
Blackall St
Willow St
Luke St
Clere St
Bonhill St
Worship St
Primrose St
Hearn StQuaker St
Sclater St
Austin St
Boot St
Chart St
Corsham St
Chart St
Brunswick Pl
Bache’s S
t
Cranwood St
Cowper St
Singer S
t
Tabe
rnac
le S
t
Epworth St
Paul
St
Paul St
Clif
ton
St
Holyw
ell R
ow
Cur
tain
Rd
Hewett St
New
N P
l
Phipp
St
Luke StChristine St
New Inn Yard
Anning St
Cur
tain
RdC
harlo
tte
Rd
Rivington St
Pindar St
Earl St
Sun St
Worship St
Wils
on S
t
Fins
bury
Sq
Fins
bury
St
Moo
r Ln
Ropemaker St
Eldon St
London Wall
Hox
ton
St
Scrutton St
Copthall Ave
Cam
let St
Navarre St M
ontclare StBou
ndar
y S
t
Redchurch St
Ebor
St
Cha
nce
St
Calvin St
Harro
w Pl
Grave
l Ln
Leadenhall St
St Mary
Axe
Errol St
Rivington St
Folgate St
Dra
y W
alk
Buxton Walk
Spi
tal S
t
Dea
l St
Heneage St
Chicksand St
Old Montague St
Brick Lane
Old St
Old St
Bath S
t
Featherstone St
Mal
low
St
City
Rd
Oliver’s Yd
Banner St
Dufferin St
Lamb’s Passage
Bunhill Row
Bunhill Row
Baldwin StPeerless St
Chiswell St
Comm
ercial St
Whe
ler S
t
Great Eastern St
Brushfield St
Princelet St
Whitecross S
t
Old St
Old St
Mundy St
Charles Sq
Leonard St
Mark St
Dysart St
Christopher St
Appold St
Sun
Stre
et P
assa
geBroadgate
Circle
Liverpool St
Bish
opsg
ate
Artillery Ln
Middlesex St
Fort
St
Gun
St
Cris
pin
St
Finsbury Cir
Moo
rgat
e
Moo
rgat
e
Fins
bury
Pav
emen
t
Fins
bury
Ave
Blom
field
St
New Broad St
London Wall
Bish
opsg
ate
Fore St
Silk St
New Union St
Moo
rfie
lds
Basinghall Ave
Thro
gmor
ton
Ave
Shor
editc
h H
igh
Str
Bis
hops
gate
Blos
som
St
Elde
r St
Spital Sq
Calvert Ave
Middlesex St
Frying Pan Alley
Strype St
Cobb St
Wentworth St
New StDevonshire Row
Cutler S
t
Houndsditch
Camomile St
White’s Row
Brune St
Toynebee St
Paul
St
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14
13
15, 12
2229
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21
27
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28
25
33
26
1930
31
3234
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23 1, 2
3
5, 6
7, 48
A
B
C
D
E
A. Old Street Station
B. Moorgate Station
C. Liverpool Street Station
D. Liverpool Street Station (National Rail)
E. Shoreditch Highstreet Station
TRANSPORT
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1. Adobe
2. AKT II
3. Allegis Group
4. Capital Bank
5. Box.com
6. Audible UK
7. Fartech
8. Capco
9. BBD Perfect Storm
10. Morningstar
11. Mullen Lowe Group
12. Silicon Bank
13. Mendeley
14. Amazon
15. Open Table
16. R/GA
17. I-D
18. Vice
19. Mixcloud
20. Inmarsat
21. Crabtreet & Evelyn
22. Microsoft
LOCAL OCCUPIERS
23. White Collar Factory
24. The Bower
25. Wenlock Works
26. Chapter & Verse
27. 1 Leonard Circus
28. 160 Old Street
29. 70 Wilson Street
LOCAL DEVELOPMENTS
30. Ace Hotel
31. CitizenM
32. Hoxton Hotel
33. M by Montalm Shoreditch
34. Nobu Hotel
HOTELS
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79 – 81 Paul Street was comprehensively refurbished in 2016 to a Morrow Lorraine Architects design. The finished redevelopment is an impressive example of contemporary warehouse office accommodation that meets the needs of the modern occupiers choosing Shoreditch as their home.
Accessed from a remodelled reception fronting Paul Street, the warehouse office accommodation totalling 8,871 sq ft (816 sq m) is arranged over courtyard, ground and 1st – 4th floors.
The office floors benefit from excellent natural light from three elevations and have been finished to an exceptional standard with new double glazed sash windows, wooden floors and feature ceilings with bespoke lighting design.
The courtyard floor is further enhanced with an attractive garden area. The 4th floor has a pitched roof with exposed wooden beams only found in buildings of this age and style.
DESCRIPTION
79 – 81 Paul Street is finished to an exceptionally high standard and benefits from the following specification:
• Newly remodelled and refurbished reception
• Superb natural light
• New VRF air conditioning
• Suspended LED lighting
• Passenger lift
• Exposed galvanised steel services
• Exposed concrete columns
• Birch plywood flooring
• Male and female WC’s
• Private external courtyard area
• Bicycle parking & shower facilities
SPECIFICATION
Floor NIASq. Ft.
NIASq. M.
4th 1,537 143
3rd 1,473 137
2nd 1,466 136
1st 1,416 132
Ground 1,378 128
Lower Ground 1,511 140
Total 8,781 816
ACCOMMODATION
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TYPICAL FLOOR PLANS
First Floor
Courtyard & Lower Ground
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Ground Floor
Fourth Floor
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Ground Floor
Courtyard Floor
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PLANNING
The building is not listed. It is located in the Borough of Hackney and the South Shoreditch Conservation Area.
TENURE
The Property is held Freehold.
Title Number: EGL252087
TENANCY
Vacant possession.
VAT
The property has been elected for VAT.
EPC
An Environmental Performance Certificate is available on request.
DATA ROOM
Access to an online data room is available on request.
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T.C
O.U
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MISREPRESENTATION ACT 1967
IMPORTANT: These particulars do not constitute either the whole or any part of an invitation, offer or contract in relation to the property described in the particulars. Neither Colliers, nor its Directors, employees and agents, have authority to make or give any representation or warranty, express or implied, on behalf of any party in relation to the property. Whilst the particulars are given in good faith, intending purchasers or tenants must satisfy themselves independently as to the accuracy of all matters on which they intend to rely. All negotiations are subject to contract. January 2020.
PROPOSAL
We are instructed to seek offers in excess of £10,000,000 (£1,138 per sq ft), subject to contract and exclusive of VAT, for the Freehold interest in the property.
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PAUL STREET LONDON EC2
For further information or to arrange a viewing please contact the sole selling agents:
JAMES NICHOLLS
+44 (0) 20 7487 1930+44 (0) 7566 289 790
KYLE JOSS
+44 (0) 20 7487 1958+44 (0) 7712 241 851
JACK HARRISON
+44 (0) 20 7344 6724 +44 (0) 07720 073 231
JULIAN MEIR
+44 (0) 20 7344 6647+44 (0) 7928 654 929
CONTACT
SHAMAN CHELLARAM
+852 9815 7459
