Property Characteristics

Tenant: Vacant
Use: A3
Total Passing Rent: N/A Vacant/Under Refurbishment
Lease Expiry: N/A Vacant/Under Refurbishment
Net Initial Yield: N/A Vacant/Under Refurbishment
Development Opportunity: Build extra flat at rear

Farrington Snapshot

• Historic part of the City of London, with an eclectic mix of commercial and artistic influences
• Known for its top restaurants and quirky feel, partly driven by its history as a key marketplace. Smithfield Market is one of the oldest London open-air markets still in existence. 
• Increasingly  becoming a desirable office location, and will be even more so once Farringdon East Crossrail Station opens in December 2018. It will be one of the biggest transport interchanges in Britain, with 140 trains per hour.

Asset management Opportunities

This is the latest property acquired by Sparta in April 2018. The building is in quite serious disrepair but has exceptional uplift and development potential.  It stands at one end of a zebra crossing, leading to one of the entrances to the impending Farringdon Crossrail station, making it an absolutely prime location for a coffee shop serving commuters.  There is potential to add another floor to the building, expanding its upper floor office space.