Opportunity to Acquire Unique Freehold Central London site
A large freehold site in Clerkenwell consisting of a former Victorian Ragged School and Refuge built in 1878 with substantial land to the rear is to be sold by property consultancy Gerald Eve.
The 0.39 acre site, just a 5 minute walk from the new Elizabeth Line rail hub at Farringdon, comprises 18,807 sq ft of office space in the former Ragged School and Refuge at 18 Vine Hill EC1, and a 0.194 acre yard, currently used as a car park, to the rear fronting Eyre Street Hill.
Fergus Jagger, partner at Gerald Eve, said: “The location of the property and the under-utilised nature of much of the site make this an excellent redevelopment opportunity. Clerkenwell’s resurgence as both a business and residential area will only be strengthened by the arrival of the Elizabeth Line, turning the area into one of London’s best-connected quarters and as such the Ragged School will generate a great deal of interest among owner-occupiers, investors and developers”.
From the 14th Century the land around Vine Hill and Eyre Street Hill was used as a vineyard and orchard for the Bishop of Ely and became part of the Hatton estate by the 16th century. During the Victorian era it was developed to create various Ragged Schools and refuges for the poor and destitute of Holborn, teaching skills and providing accommodation and education. Charles Dickens lived just a few streets away and mentions the area in his writings. 18 Vine Hill was built to support the work of the Field Lane foundation whose first President was Lord Shaftesbury.
The freehold site and convenient central London location beside a major Elizabeth line interchange offer huge potential for either commercial or residential development and is expected to generate considerable interest.
Interested parties should contact Fergus Jagger at Gerald Eve.