Investment opportunity in the heart of Clerkenwell

Thornsett Group has launched its latest luxury development at One Clerkenwell Green. The development has been created from a former commercial building into ground and lower ground floor commercial space and five apartments, over six storeys.

The complete project measures approximately 6,500 sq ft and the entire scheme, including the freehold, can be purchased for £3m. The agents are Daniel Watney and Currell Commercial.

One Clerkenwell Green is a unique freehold development with an iconic address. For office, retail or design studio use, the commercial space occupies 1,700 sq ft. Three one bedroom apartments range in size from 516 to 686 sq ft. The two-bedroom apartments are 780 sq ft each. Three of the apartments have terraces, either to the front or rear of the building.

Bernadette Cunningham, director at Thornsett Group, says, “To buy a freehold building in the heart of Clerkenwell is a rarity. After many years of investment and regeneration and with several successful new residential and commercial offerings, the area is established as a sought-after location. One Clerkenwell Green would be a good investment prospect for those wishing to start a Self-Invested Personal Pension (SIPP) or other form of investment trust.”

According to current values, landlords could expect an annual rent of £40,000 from the commercial premises and up to £120,000 on the residential properties.

The commercial and residential space will be of the same high specification as Thornsett Group’s highly successful development Charterhouse thesq, located nearby on the corners of Goswell and Clerkenwell Road. The apartments will have fully fitted Schroder kitchens with Bosch appliances, recessed downlighters throughout, walnut veneer internal doors, Kahrs timber flooring in the reception areas and built in wardrobes in the carpeted bedrooms. Sky+ points are installed in the bedrooms and reception.

Bathrooms will feature ceramic wall and floor tiles, with Bathstore and Ideal Standard sanitary ware finished with a mirrored cabinet over the sink and a chrome heated towel rail. The commercial space will be flexible according to the business’ needs but will be “business ready” in June 2009.

Clerkenwell Green is located moments from fashionable Smithfield and the Barbican with its multitude of media agencies and architectural practices whilst only a short journey to London’s financial and legal districts. Transport is provided by Farringdon and Barbican underground stations and a multitude of bus routes into the West End.

St Pancras, Kings Cross and Liverpool Street stations are all within easy reach and, under current plans for the Crossrail Project there will be a station serving the local area, set to be one of the most important central interchanges in Central London. The Crossrail project is due to be running by 2017 and will significantly add value to the development.

Clerkenwell is one of London’s most vibrant urban villages and has emerged as a design destination with its furniture and kitchen showrooms and architectural practices and design consultancies. For 200 years, Clerkenwell was the European centre of horology attracting the finest watch and clockmakers from across the Continent as well as a centre for silversmithing and goldsmithing, printing and bookbinding.

The area around the Green has historically been associated with radicalism and it is said that Lenin and a young Stalin had their first meeting in what is now known as The Crown Tavern situated on The Green. Charles Dickens was a resident of the area and Clerkenwell Green was the setting for Oliver Twist’s first practice in the art of pick pocketing.

Charming Exmouth Market at the northern end of Farringdon Road offers local restaurants, bars, hairdressers and boutiques. The Barbican Centre, with its mix of exhibitions, theatre, dance and concerts is also within walking distance as is Sadler's Wells Theater on Rosebery Avenue, home to the Sadler's Wells Ballet and the New Opera Company.

The development is due for completion in June 2009. To register your interest visit Thornsettgroup.com.