Summary - BASEMENT AND GROUND FLOOR, 2, PHIPP STREET EC2A 4BP
1 bed 1 bath Office
Expansive fitted workspace with terrace and split-let potential in central Shoreditch.
Self-contained ground and lower-ground floors, large open-plan workspace
Long lease circa 983 years remaining; peppercorn ground rent
Small decked terrace (c.300 sq ft) and good natural daylight
Fitted with AC, air handling, exposed services and three kitchenettes
Shared cycle storage, 8-person lift, security shutters and fibre connectivity
Part of ground floor let until 11/04/2026 — affects immediate vacancy
Very high local crime recorded; consider enhanced security measures
High annual service charge £42,366.76; verify business rates and VAT
A substantial self-contained lower-ground and ground-floor office in Shoreditch, offering flexible open-plan workspace and strong central location appeal. The fitted accommodation arrives with modern lighting, exposed services, air conditioning, three kitchenettes, and multiple WCs and shower facilities — ready for immediate occupation or reconfiguration for multi-tenant use.
The property benefits from prominent street frontage on Phipp Street, good natural daylight from large glazing bays, a small decked terrace (c.300 sq ft) and shared cycle storage. Practical building features include an 8-person passenger lift, security shutters, alarms, fibre connectivity and an EPC rating of C (63). The long lease (circa 983 years remaining) and peppercorn ground rent are positive ownership attributes.
Material considerations for buyers are clear and significant: the reported annual service charge is high at £42,366.76, the site is in an area with very high recorded crime, and part of the ground floor is let until April 2026 which affects immediate vacant possession. The property is elected for VAT and buyers should verify the four separate business rates assessments and liabilities.
This asset suits investors or occupational occupiers seeking a large, well-specified in-town office with flexible split-let potential. It presents short-term income options and medium-term uplift from active asset management, but will require attention to operating costs, security measures and any tenant transition planning.
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