2 - 4 Idol Lane, London, EC3

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Idol lane 2
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Description

A Freehold building in a core EC3 location in the City of London, which previously provided approximately 16,850 square feet of office accommodation on basement, ground and three upper floors and following refurbishment provides approximately 21,500 square feet post-refurbishment.

Opportunity

The building was in a poor state of internal repair and represented an opportunity to significantly reposition the building through refurbishment of the common areas and the office floors upon vacant possession being obtained. There was also an opportunity to gain further net floor area through the addition of 2 more floors, repositioning of the core and imaginative design and technical improvement. The use on the Basement, lower Ground and Ground Floors has also been changed to Retail Use with access from St Mary at Hill and the building is suitable for multi –tenancy or single occupation. The building is suitable for multi –tenancy or single occupation.

Value Added

  • A team of consultants was mobilised to ensure a speedy exchange of contracts and necessary due diligence on the property in a competitive bidding process.
  • Following a number of bidding rounds the property was put under offer to L&O despite there being higher but possibly less credible bidders.
  • A team of project managers, architects and other consultants was organised to evaluate a number of refurbishment options.
  • Planning permission has now been granted to change the use of the lower ground and Ground Floor to Retail Use , to infill two lightwells and to add a further 2 office floors thus creating an extra 25% of space. The lift and staircase core are being entire
  • The building has now been completed and launched - please see www.2idollane.com for marketing details.