These two adjoining period building extend to some 12,500 sq. ft. with a mixed use of Restaurant /Bar on part of the ground floor and basement with 10 office units on the three floors above.
The property was acquired for private clients. The asset management strategy was to refurbish the accommodation to provide good quality space and improved services for the tenants.
CBGA Robson project managed the refurbishment to re-create theoriginal character of the buildings. The walls have been taken back to the brickwork, the original ceilings exposed, which now have the benefit offull VRF air conditioning to provide a modern office environment with full facilities in interesting character space. The works have also involved structural improvements to the buildings to allow for adding further floors to the existing structures
The office units range in size from 700 sq. ft. to 1500 sq. ft. and attract new ’start up’ companies, so care has been taken to make the space easy for companies to move in and out with an expected occupation period of around 3 to 5 years with flexibility to combine units as tenants expand.
This has resulted in achieving full occupancy with the office rents rising from £10 a sq. ft. in 2010 to over £50 per sq. ft. Today, the restaurant is let to The Drunken Monkey producing £160,000 per annum.