ANGEL IS SMOKING!

25th June 2015

We are delighted to announce the freehold sale of Angel House, 338 Goswell Road, EC1. This former tobacco warehouse, which measures approximately 45,808 sq ft was sold to Workspace. Our clients Gascoyne Holdings and Bolton Group achieved a price of £34,200,000 which reflects a net initial yield of 3.67%.

Workspace, who own over 100 properties in London, provide business premises suited to the needs of new and growing companies across London by understanding the changing needs of these companies.

Angel House is a grand warehouse building, typical of the location, and has a wide range of tenants in situ. The top three floors were recently refurbished as part of our letting campaign with our joint agents Allsop. These recent lettings meant that Gocardless, Schawk, Wayfair and Joss & Main now call the building home.

Gocardless, founded in 2011, is one of Europe’s leading Direct Debit providers. They make it easy to accept recurring payments online and are backed by some of the world’s leading investors including Accel Partners, Balderton Capital and Y Combinator.

Schawk, founded in 1953, enhance consumer desire and make brands more profitable by efficiently delivering consistent brand experiences.

Wayfair is one the most successful online destinations for all things home. Joss & Main are part of the Wayfair group and provide an online members-only retail experience that offers limited time sales on some of the world’s best brands for the home.

Allsop and Richard Susskind & Company represented the Vendor. Knight Frank acted for the Purchaser.

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