Summary - THIRD FLOOR RIGHT SIDE REAR, IMPERIAL HOUSE, 21-25, NORTH STREET BR1 1SD
1 bed 1 bath Office
Large multi-let asset with immediate income and clear rental upside.
c.25,670 sq ft high-quality office accommodation over four storeys
Imperial House is a substantial four-storey detached office building totalling c.25,670 sq ft GIA, set on c.0.33 acres with a car park for approximately 32 vehicles. The property delivers high-quality office specification including staffed reception, lift access, air conditioning, suspended ceilings, perimeter and underfloor trunking, and double glazing. At present the building is multi-let but only c.54% occupied, offering an immediate income stream with clear upside if void space is re-let.
For investors the property presents a straightforward value play: current gross income (rent plus service charge) is c.£506,265pa at 54% occupancy, with an estimated rental value (100% occupancy) of c.£968,434pa. Part of the building was occupied by OSTC Ltd under leases running until October 2026 (c.7,746 sq ft) — these leases can be assigned or continued to preserve income until that date, or the space can be marketed when available. There is also apparent potential to create additional accommodation in the airspace, subject to planning (STPP).
Important constraints to note: a permitted development approval to convert offices to residential has lapsed and the property now lies within an Article 4 zone, so residential conversion would not proceed without full planning consent. The building sits in a high-crime area relative to local averages, which may affect certain occupier types. Vacant workstations and suites across the floors mean refurbishment and active asset management will be required to achieve full occupancy and realise the ERV. Guide price £5,000,000 plus VAT, freehold/leasehold details to be clarified by buyers.
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