London, East Central, EC1, EC2, EC3, EC4
buying commercial property in east Central,
(Blackfriars, bank, the city of london, Finsbury Circus, St. paul's, farringdon, aldgate, shoreditch, hatton garden).
London East Central; abbreviated by the prefix and postal code of EC, is an area divided into four parts; EC1, EC2, EC3 and EC4 and falls under the jurisdiction of the City of London.
East Central London could be described as the eastern side of downtown; from north to south, the full length of downtown. It is a wide area and is definitively the financial district of the UK; as well as one of the world's most prominent locations for global finance.
Large buildings of modern, cutting edge architecture, mix with the old and historic buildings; where street names highlight the past of London's 1000 year history; further demonstrated by The Tower of London; sitting on the river bank as the gateway to the remainder of East Central.
East Central can be seen for miles; it features the main hub of skyscrapers for the UK. The area has a vibe that suggests that this is the place where the most pioneering social, cultural and commercial trends are financed; that this is indeed where some of the world's most influential decisions will be made.
MONUMENT, TOWER HILL
Monument and Tower Hill are the furthest points east, of East Central, after which the East end starts and postcodes are prefixed with E and the number relative to the micro sector; ie: E1, nextdoor (Whitechapel), encompassing a sudden change in demographic and architecture. Monument has a very key monument that commemorates the Great Fire of London, almost four hundred years ago.
The area is changing and increasingly becoming more resident friendly, as exciting residential developments compete for height and raise standards in living standards to meet the expectation of successful executives working in the area. Many new restaurants have opened to serve many different culinary tastes; The Four Seasons at Tower Hill opened a few short years ago and Citizen M also established a new hotel.
Rent Price per Sq Ft: £65 / Sq Ft
Purchase Price Per Square Foot: £530 / Sq Ft
Featured buildings: United Dominions House, Plantation Place South, The Minster Building.
Description: A busy street with bars and restaurants to serve the offices that line both sides of the street. Don't be fooled by the name though; this is a prime location linking directly to Monument tube station and prices did actually reach £900 / Sq Ft in a previous sale.
east cheap, EC3M, Great Tower St Ec3N
King William St, EC4N
Rent Price per Sq Ft: £79 / Sq Ft
Purchase Price Per Square Foot: 1000 / Sq Ft - £1300 / Sq Ft.
Feature buildings: 1 King William St, 68 King William St, Fishmonger's Hall, 18 King William St.
Description: King William St, continuing from London Bridge, is the gateway to the city and buildings are oriented towards the white collar workforce; large, modern and highly capitalised office led mixed use buildings. King William St starts from London Bridge and arrives at a four way junction before continuing at an angle to the left to arrive at the Bank of England; placing itself as a key street for businesses to secure a space. The yield on King William varies just over 4%.
GRACECHURCH ST, EC3V
Rent Price per Sq Ft: £55 - £65 / Sq Ft
Purchase Price Per Square Foot: £1225 / Sq Ft - £1549 / Sq Ft
Feature buildings: 70 Gracechurch St, 55 Gracechurch St, 20 Gracechurch St, Leadenhall Market, Allianz House (60 Gracechurch St).
Description: This is a vibrant street with shops, offices, bars, restaurants, with Monument tube station at it's entrance. It is also the beginnings of the Square Mile; the world renowned financial district of London; leading to Bishopsgate, where the buildings get bigger and taller. But Gracechurch St will lay host to some of the biggest names in finance (Axa Plc, Allianz). Gracechurch can achieve a yield of 5.25 % plus
Cannon St, EC4N
Rent Price per Sq Ft: £70.00 per square foot
Purchase Price Per Square Foot: £1150 / Sq Ft.
Feature buildings: 30 Cannon St, Cannon Place, The Wallbrook Building
Description: Cannon St starts from St. Paul's Square and leads to the Monument junction with King William St. Cannon Street has gone through a major transformation since 2016, when major office blocks were being built and a new entrance was being added to Cannon St tube station. Prime corporations have taken residency to take advantage of major transport links (Cannon St Station) and the close proximity to the Bank of England and other major financial corporations.
FINSBURY CIRCUS, EC2Y
Rent Price per Sq Ft:
Purchase Price Per Square Foot: £1050 / Sq Ft
Feature buildings: One Finsbury Circus, 20 Finsbury Circus, Salisbury House, Lutyens House, London Wall Buildings.
Description: Finsbury Circus is a road encircling a 2 acre, elliptically shaped park, with a primary axis flowing through the east and west points. The location is positioned between Liverpool St Station (east) and Moorgate Station (West); to the south is the Bank of England and Shoreditch is a stone throw away to the north. Finsbury Circus park is the largest open space within the City of London area and dates back to 1812; considering it's position in the City, the park is a major asset to corporate residents encircling. Much of the buildings are Grade I and Grade II listed. Finsbury Circus has a yield of around 5.5%;
LONDON. FINANCIAL DISTRICT
The Financial District of London comprises of a sector of the City of London, a jurisdiction within central London that hosts some of the biggest financial institutions, as well as some of the world's most important financial transactions and the activities that surround them. The City of London, established before greater London; has it's own mayor, it's own city police force and it's own governing body; The City of London Corporation. The City of London and it's financial district stand on the crossroads of world finance the UK's economics; in 2022 it was crowned the world's top financial district for the second year in a row.
Consider The Bank of England the central point (tube: Bank) and then from there stems a number of the district's primary roads; Princes St, Cheapside, Queen Victoria St, Lombard St, King William St, Cornhill, Threadneedle St and Bishopsgate. The Financial District stretches beyond this but if any corporation considers itself to be important enough to be within the district; being outside of it represents other opportunities in terms of amenities, facilities and ambience.
London's Financial District, more commonly known as The City, is an exciting location providing prestige and high echelon networks.
bank, EC2R
Rent Price per Sq Ft: £85 / Sq Ft
Purchase Price Per Square Foot: £1500 - £1750 / Sq Ft. Prices will vary depending upon exact position and condition.
Feature buildings: Bank of England, The Royal Exchange, 1 Poultry, The Town Hall, 1 Queen Victoria St (Magistrates), 1 Princes St
Description: If it was any other location; this junction would be called five ways; for the five streets that stem from the open junction, where traffic is primarily pedestrians; city workers heading to lunch, meetings or back to the office where space is at a premium but the historical legacy is unmatched and the location is the primary point for global finance.
fenchurch st, EC3M
Rent Price per Sq Ft: £60 - £75 / Sq Ft
Purchase Price Per Square Foot: £1250 / Sq Ft (Prime Grade A prices have reached £1920 / Sq Ft).
Feature buildings: The Walkie Talkie Building (20 Fenchurch St), Plantation House (30 Fenchurch St), 50 Fenchurch St, 80 Fenchurch St.
Description: Fenchurch St achieved fame from it's nicknamed Walkie Talkie Building; situated at 30 Fenchurch St; which includes a Skygarden and restaurant. It's iconic structure and design is a prominent feature on London's city skyline and developing the appetite for further skyscrapers and now Fenchurch St has added more to it's tally with No 50 and No. 80. Neighbouring Leadenhall St, which runs parallel, whilst also coming off Gracechurch St, Fenchurch St is a long road that has further scope for the development of additional skyscrapers. Rental yields are around 3.5 - 4.0 %.
LLOYD'S AVENUE, EC3N
Rent Price per Sq Ft: £39 - £65 / Sq Ft
Purchase Price Per Square Foot: £900 / Sq Ft
Feature Buildings: Dixon House (1 Lloyd's Avenue), Marlow House, 8 Lloyd's Avenue, 10 Lloyd's Avenue
Description: Lloyd's Avenue is a quiet street coming off Fenchurch St, situated on the Aldgate side (east end of Fenchurch St). Fenchurch St Station is very close by, as well as Tower Hill and Aldgate St. The buildings on the street are generally six storeys high and co-working spaces have a presence; offering flexible options for companies planning or experiencing growth. Buildings are well serviced, modernised, with classical exterior. Newer developments feature a modern exterior.
bishopsgate, EC4N
Rent Price per Sq Ft:
Purchase Price Per Square Foot:
Feature buildings: 8 Bishopsgate, 22 Bishopsgate, 100 Bishopsgate, 15 Bishopsgate. 8 Bishopsgate.
Description: Bishopsgate features the UK's tallest office buildings, built to the highest standards in sustainability (BREEAM). 15 Bishopsgate is currently offered by WeWork and Regus are presenting co-working spaces at 100 Bishopsgate. The area is very vibrant with numerous options for dining and Liverpool St station offers accessibility to commuters and business travelers. Bishopsgate now breaking it's own records for height, is a prime feature of the London Skyline and presents London Financial District as a thriving location.
leadenhall St, EC3A, EC3V
Rent Price per Sq Ft: £57.50 / Sq Ft
Purchase Price Per Square Foot: £656 / Sq Ft
Feature buildings: The Leadenhall Building (122 Leadenhall Street), The Scalpel (52-54 Lime St), lloyd's Building.
Description: There are more skyscrapers coming to this street. The street is walking distance to one of the country's busiest train stations (Liverpool St) and links up very easily to four different underground routes, making it thus popular as a working destination and judging the level of activity in the area during the day, 'working from work' appears to be a popular option.
THREADNEEDLE St, EC3A, EC3V
Rent Price per Sq Ft: £62.50 / Sq Ft
Purchase Price Per Square Foot: £1045 - £1250 / Sq Ft
Feature buildings: 60 Threadneedle St, The Royal Exchange, 38 Threadneedle St, 34 Threadneedle St
Description: Threadneedle St connects to of the most prized financial locations in the country; starting from the Bank of England to reaching Bishopsgate in the east, in just under a mile. It's a narrow road but the buildings are irrespectively grand and designed to depict longevity, trust and authority; it's most probable influence being the Bank of England's presence and connectivity. Expect a yield of around 4.5-5%. Expect competitive capital growth for sustainable buildings.
Liverpool St, EC2M, OLD BROAD ST, EC2N
Rent Price per Sq Ft: £60 - £75 / Sq Ft
Purchase Price Per Square Foot: £870 - £1125 / Sq Ft
Featured buildings: Tower 42 (25 Old Broad St), 125 Old Broad St, 18 Old Broad St.
Description: Running Parallel with Bishopsgate and providing the alternative entrance to Liverpool St station; Old Broad St is quieter than it's neighbour for traffic but busy nevertheless with office workers walking to and from the station. Travelling past Liverpool St station and through Wormwood / London Wall, Old Broad St gets narrower and will lead down a path that ends up at Lothbury and the rear of the Bank of England. The Old Broad St was a prominent location amongst financial institutions since the late 1800s and now it is currently offering to major corporations. There is also a private club and public gym.
LOMBARD St, EC3v
Rent Price per Sq Ft: £55 - £65 / Sq Ft
Purchase Price Per Square Foot: £1575 - £1625 / Sq Ft
Feature buildings: The Sugar Building (5 Cheapside), Jaguar Building, (107 Cheapside), 27 Poultry
Description: Don't be misled by the name; Cheapside is derived from the word 'chepe', which in Saxon, means market. To then see that the Bank of England was situated on the eastern end of Cheapside and on the western side is St. Paul's Cathedral; the historical evolution of the area seems to be clearer. Now, it is the UK headquarters for major corporations and a ltarget destination for leisure, dining and Hotels (The NED).
cheapside, poultry, EC2V, EC2R
Rent Price per Sq Ft: £55 - £65 / Sq Ft
Purchase Price Per Square Foot: £1575 - £1625 / Sq Ft
Feature buildings: The Sugar Building (5 Cheapside), Jaguar Building, (107 Cheapside), 27 Poultry
Description: Don't be misled by the name; Cheapside is derived from the word 'chepe', which in Saxon, means market. To then see that the Bank of England was situated on the eastern end of Cheapside and on the western side is St. Paul's Cathedral and the London Stock Exchange; the historical evolution of the area seems to be clearer. Now, it is the UK headquarters for major corporations and a target destination for leisure, dining and Hotels (The NED).
GRESHAM St, EC2V
Rent Price per Sq Ft: £65 / Sq Ft
Purchase Price Per Square Foot: £805 - £1025
Feature buildings: Garrard House, 99 Gresham St, 55 Gresham St
Description: Gresham St is the western continuation of Lothbury; which is the road directly behind the Bank of England and Gresham St then continues to then meet St. Marten's Le Grand, where the UK head quarters of a high profile bank and the London Stock Exchange are based nearby. Gresham St is a host to other financial institutions (insurance, banking) and offers a wide variety of office sizes. There are also options for the smaller companies looking for flexible agreements on office space, within a prestigious location.
KING EDWARD ST, EC1A / NEWGATE STREET, EC1A
Rent Price per Sq Ft: £65 / Sq Ft
Purchase Price Per Square Foot: £785 - £1250 / Sq Ft
Feature buildings: 81 Newgate Street, The Newgate, 1 St. Martin's Le Grand
Description: Prices can vary quite considerably based on all the relevant factors such as tenant, lease, income, profit, location, traffic, condition and potential. The location is undergoing development and from the spread of modernisation and sustainability, investors and developers find cause to develop new buildings that reach the standards in design, efficiency and inspiration. It must be mentioned that though there is road traffic (which is becoming increasingly restricted, the spot is metres away from St. Paul's cathedral; one of the world's most iconic buildings and with the the Museum of London, both bring balance anda humbling affect on glass, stone and steel structures representing the man made concepts.
HOUNDSDITCH, EC3A
Rent Price per Sq Ft: £52.50 / Sq Ft
Purchase Price Per Square Foot: £850 - £1050 / Sq Ft
Feature buildings: St Botolph Building, 115-123 Houndsditch,
Description: Houndsditch starts from Aldgate Square and runs alongside Camomile St, towards, Bishopsgate and Wormwood. The street is off the beaten track compared to other streets in the vicinity and thus it could be argued that Houndsditch is the road with potential. A new major development due could be the first of a few; a particular oval / egg shaped building that straddles the area between Camomile and Houndsditch with it's very extraordinary shape; as well as the skyscraper at the very end of the street on Bishopsgate, may inspire further Houndsditch skyscrapers.
Rent Price per Sq Ft: £52.50 - £67.50
Purchase Price Per Square Foot:: £1075 / Sq Ft
Feature buildings: The Royal Exchange, 1 Cornhill, 33 Cornhill.
Description: Cornhill starts in front of The Bank of England and ends at Bishopsgate. It's history is based on trading, where Corn trading, as suggested by it's name, was the niche provided by it's historical market. Today, the location is, like many other addresses in it's vicinity, is centred around finance; including insurance, pensions, investments and banking. Because of it's highly central location and significant history, Cornhill will be expected to remain as one of the city's primary addresses. A fair estimate of expected yield remains competitive at around 4.5%.
CORNHILL, EC3V
CAMOMILE ST, EC2N, BEVIS MARKS, DUKES PLACE EC3A
Rent Price per Sq Ft: £55 - £65 / Sq Ft
Purchase Price Per Square Foot: £1050 - £1300 / Sq Ft
Feature buildings: Heron Tower, Camomile Court, The Can of Ham (60-80 St Mary Axe), Irongate House
Description: The Heron Tower is situated at 100 Bishopsgate but it's also the corner that meets Camomile St; making Heron Tower a very influential and welcomed guest to vicinity of Camomile St which has benefitted further from modern developments, of avante garde designs; lifting the price per square foot into the premier league. Camomile St is also influence by it's eastern neighbour - Aldgate, where Irongate House is situated. We can expect further interest from developers and corporate tenants as there is always vertical space and always capacity to modernise. Camomile St is co-joined with Bevis Marks and Dukes Place.
BLACKFRIARS, ST. PAUL'S, HOLBORN
Located within one quarter of a mile west from the Bank of England; Blackfriars, St.Paul's and Holborn host some very recognisable, iconic buildings in and around St. Paul's Cathedral; new commercial developments offer originality in design, style, facilities and standards in sustainability. Buildings are generally purpose built offices and provide some of the largest office buildings in the UK. Various companies have made it their HQ; including those of the banking, telecoms and media sectors.
The area has a rich history and retains major commercial significance; previously Fleet St was the UK's hub for publishing. Like much of central London, it has diversified and now accommodates a variety of industry sectors.
Rent Price per Sq Ft: £57.50 - £67.50 / Sq Ft
Purchase Price Per Square Foot: £1050 - £1185 / Sq Ft
Feature buildings: Baynard House, Faraday Buildings, Albert Buildings, The College of Arms Building.
Description: Starting from the Bank of England, Queen Victoria St leads to the west, running parallel and close to the river; it meets New Bridge St at Blackfriars, where there is a tube and rail station, hotels, restaurants, bars. Coming off from Queen Victoria St is Peter's Hill where pedestrians can turn to see a view of and walk towards St. Paul's or turn the other way, cross the Millenium Bridge (footbridge) and head towards The Tate Modern Gallery.
queen victoria St, EC4N, EC4V
Farringdon St, EC1M, EC1R, EC1M, New bridge St, ec4V
Rent Price per Sq Ft: £76.50 / Sq Ft
Purchase Price Per Square Foot: £1115 / Sq Ft
Feature buildings: JJ Mack Building, The Ray, 20 Farringdon St, 25 Farringdon Road
Description: Farringdon St, following on from New Bridge St in Blackfriars and heading north, could be split into two halves; split by Holborn Viaduct (A40 road), the southern section, closer to the river appears to be more central, neighbouring some prime locations and hosting modern, Grade A offices. The northern section however, isn't lacking character and is close to Farringdon Station, making a prime prospect for development projects in the area. Farringdon Station joins a major rail line to provide great rail access heading out of London (including the new Crossrail line). Farringdon St provides a deversified ambience, mixing modern and historic / industrial conversions across it's length.
LUDGATE HILL, EC4M
Rent Price per Sq Ft: £60 - £72.50 / Sq Ft
Purchase Price Per Square Foot: £1285 / Sq Ft
Feature buildings: Ludgate London, Procession House, New Ludgate, Creed Court
Description: Ludgate Hill could be easily described as the road that leads to St. Paul's cathedral, directly to it's entrance and it would be the route used by prominent cavalcades for key ceremonies. The street has an extensive number of outlets, oriented around dining. and drinking, serving the strong business community that divides itself by large, modern, purpose built offices, to the minor office suites created from the conversion of commercial buildings into dedicated offices for the smaller to medium sized business. Going away from St. Paul's, Ludgate Hill becomes Fleet St, which will leads to The High Court, Chancery Lane and eventually The Strand.
VICTORIA EMBANKMENT, EC4Y
Rent Price per Sq Ft: £69 / Sq Ft
Purchase Price Per Square Foot: £1385 / Sq Ft
Feature buildings: Sion Hall, Shell Mex, The Old School House, Hamilton House, 100 Victoria Embankment
Description: The major factor and advantage with commercial assets / offices, based on Victoria Embankment is the river views, providing air space and more pleasant views than would otherwise be expected from a central London office. These offices being anchored by their river views would have been built on land that would have been accessible to higher levels of capital and therefore buildings are also of a higher calibre; either in terms of historic design or significance. There are many historic buildings along the embankment; possibly amongst the highest concentrations in London. The road is a major route going to move from east-west (vice versa) but also north-south (vice versa) by crossing one of a number of bridges; Waterloo Bridge, Golden Jubilee Bridge, Blackfriars Bridge and Westminster Bridge.
FLEET ST, EC4Y
Rent Price per Sq Ft: £57.50 - £72.50 / Sq Ft
Purchase Price Per Square Foot: £800 - 900 / Sq Ft
Feature buildings: The Royal Courts of Justice, The Express Building, THe Daily Telegraph Building, Salisbury Court
Description: Fleet St was synonymous with anything publishing but the internet was successful in changing the industry and media central moved north west towards Kings Cross, Shoreditch and Islington. Now Fleet St is still a prime location with the legal quarter coming just off it and the Royal Courts of Justice is still based on the Strand, which extends from Fleet St from it's western side. Current design of buildings are reflective of the last 'hey day' period of Fleet St; the late nineties. Now most buildings along Fleet St and roads coming off it are Grade B1 standard; though this is changing as developers move further west, coming from the core financial district; the Square Mile. Older historical buildings are more likely to be connected with the legal sector, which will remain and add character to the area but foreseeing how the street may evolve may suggest that modern steel and glass to uplift the standards to Grade A may be what's coming and will bring Fleet St back to being the hub of an industry and the street that connects the financial district with government administration district (Whitehall).
NEW FETTER LANE, FETTER LANE, EC4A
Rent Price per Sq Ft: £67.50 - £76.50
Purchase Price Per Square Foot: £1350 / Sq Ft
Feature buildings: Rolls House, New Fetter Place, 12 New Fetter Lane, 15 New Fetter Lane
Description: New Fetter Lane is based in Farringdon, close to Chancery lane tube on it's northern point and at it's southern point is it's access from Fleet St. Because of it's proximity to the Royal Courts of Justice on The Strand and similar to Chancery Lane, New Fetter Lane is popular amongst law firms. New Fetter Lane seems to experiencing a growth, rejuvenation as a substantial number of new developments of significance have claimed residence. New fetter Lane has demonstrated the potential that sits within roads that run between two major routes; they're the less obvious targets for investment but when the major routes have matured as investment targets, then it's 2nd tier destinations l;ke New Fetter Lane that will step forward to claim the investor/developer's attention.
ST. paul's, EC
Rent Price per Sq Ft: £60 - £71.50
Purchase Price Per Square Foot: £900 - £1260 / Sq Ft
Feature buildings: One New Change, Juxon House, 1 Carter Lane, 4 St. Paul's Churchyard, Transept House, 10 Paternoster Square
Description: Having one of the world's most iconic buildings as a neighbour must be quite a privilege; the contemporary and historic significance of St. Paul's sets the area apart from much else of central London and the cathedral is presumably a welcomed contrast to the economic and capitalist themes practiced by multitude of financial institutions that are well within a small radius. Due to the close proximity to the Bank of England; corporate residents around St. Paul's include major banks, the London Stock Exchange, insurance and pension companies. The City of London, being well aware of St. Paul's appeal; ensure that no new developments block it's visibility from afar; protecting the symbolic value of the Cathedral on London's skyline. The area is further supported by the structure around St. Paul's to increasingly resemble a square. The river front is also a short walk away and pedestrians can make use of the Millenium Bridge to walk across to the Tate Modern Gallery. Prices vary quite considerably in the area, as reflected in the price range shown above; this is due to the exact positioning of the office, it's condition and quality. A number of the buildings are of an older nature, whereas some are new, made with high grade materials, design and efficiency.
Disclaimer
The information displayed here comprises of a location summary, of which Mountesque Ltd makes no warranty as to the accuracy or completeness of the information, which is to act as a guide at the viewers discretion. Whilst the information is periodically maintained by Mountesque; they are subject to market, economic and geographic changes and influences, as well as individual and collective interpretation and viewpoint. Please contact us directly for direct assistance with enquiries and guidance on our consulting packages.