Grays Inn Road Commercial Office, London
Grays Inn Road is a Grade A Office accommodation in Midtown London. Ideally located at the busy end of Grays Inn Road, London, across from Gray’s Inn, this building is in close proximity to Crossrail Farringdon and Chancery Lane (Central Line) underground station, the building is also just 3 minutes’ walk from High Holborn where some of the most recent high-profile tech companies such as Amazon has moved to within London’s Midtown and City of London district.
Verulam Gardens is currently undergoing an asset repositioning exercise. The repositioning work includes overhauling and modernising upgrades to the Air conditioning system and lifts, new and expanded building amenities, lobby refurbishment and new individual tenant entrances on the Northern and Southern corner of the building on Ground floor. After the asset repositioning exercise, the weighted average unexpired lease term will grow to be over 10 years and comes with significant rental reversion.
Property type: Multi-Let Grade A Commercial Office Building
Address Grays Inn Road, London, United Kingdom
Site acquired: 2016
Site status: Holding
Net Internal Area 34,699 sq. ft.
· Opportune timing on purchase after Brexit
· The building was highly reversionary with some asset management work needed
· Building is now being repositioned with new café space, new independent ground floor tenant entrance, modernized M&E, refurbished lobby and expanded building amenities
· Proximity to new Crossrail opening (arriving in 2021 at Farringdon Station)
· Good tenants with strong covenants.