311 Gray's Inn Road

At a glance

Key Points

• Total building area - 1,772 square feet
• Rent £80,000 per annum and £75,000 premium
• Prominent retail location - close to Kings Cross Station
• Potential to sub-let upper offices
• Lease assignment
• High levels of passing road traffic and footfall
• Potential to convert upper offices to residential
• Internal and self-contained access to upper floors

Description

With a prominent return frontage this is a prime opportunity in an ideal retail location for a number of businesses. The current ground floor holds seating for 36 customers with the potential to add further outdoor seating. Due to the location there is a high level of passing road traffic and footfall. With both internal and self-contained access to the upper floors, the premises is currently trading as Subway plus office use on the upper floors. The square footage is as follows:
Ground floor retail - 622 sq ft, plus basement - 245 sq ft - Total 867 sq ft.
First floor - 225 sq ft, second floor - 327 sq ft, third floor - 353 sq ft - Total 905 sq ft
Total Building Area - 1772 sq ft and vacant possesion throughout will be available upon completion.
The landlord will consider a residential conversion on the upper floors - subject to Local Authority (Camden) planning consent.
Lease Assignment: Existing 10-year lease (commenced 2019) inside the 1954 Landlord & Tenant Act with rent reviews every five years and the ability for sub-letting part of the premises. Lease Premium of £75,000 and rental of £80,000 per annum for the whole building.
Legal Costs - Each party to bear their own legal costs - subject to the new/in-going tenant providing an undertaking to cover the landlord’s legal costs.

Available area

The accommodation comprises the following areas:

The Location

The building is located on the junction of Grays Inn Road (A501) and St. Chads Street - very close to London Kings Cross Station. A number of indepedent retailers and office occupiers are located in the mixed use parade - KFC and Five Guys are also in very close proximity.