We are delighted to announce the sale of a Bloomsbury property which is held freehold and is located at 3 Stedham Place & 5 Coptic Street, WC1.
This Bloomsbury property is located between Bloomsbury Street and Southampton Row, within walking distance of the British Museum. The area is a mixed commercial and residential location with Holborn and the new Tottenham Court Road Crossrail Station a few minutes walking distance from the subject Bloomsbury property. The property comprises a restaurant on the ground floor and basement which is let until 2035 at a rent of £46,387.74 per annum with fixed annual increases by a factor of 1.025. The first floor comprises a vacant office and outside terrace and the top two floors of this Bloomsbury property comprise a duplex flat with outside terrace currently let on an AST.
“With a wide range of expertise throughout the West End property market, we were very pleased to have sold this Bloomsbury property on behalf of our client. There is significant demand for freehold properties which have a long term source of income in the area and as a result the property enjoyed significant interest from a variety of different investors.” Said RIB Director Damien Field when asked to comment.
Bloomsbury is one of the core West End submarkets and is well known for its educational and literary traditions. The area is home to the British Museum, UCL, SOAS, RADA, Great Ormond Street Hospital, and many other famous institutions. In addition, Bloomsbury was one home to the famous ‘Bloomsbury Set’ whose members included E.M. Forster, Virginia Woolf, and John Maynard Keynes.
The area is also currently undergoing significant changes with an ongoing expansion of Tottenham Court Road for the new Elizabeth Line (Crossrail) which will deliver a new underground station and ticket hall at Dean Street in Soho as well as a second integrated ticket hall below St Giles Circus on Oxford Street. When this is all completed Tottenham Court Road will become one of London’s busiest stations with over 200,000 people passing through every day. This Bloomsbury property will be right in the heart of all this change, benefitting from the increased footfall which Crossrail will provide.
Do not hesitate to contact a member of our dedicated Investment Department if you are interested in selling a property in Bloomsbury or elsewhere in London:
Damien Field email@example.com 020 7927 0620
Daniel Freedman firstname.lastname@example.org 020 7927 6334
Adam Ben-Harosh email@example.com 020 7927 6331
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