3-bedroom flat · EC1N 7SQ
For saleListed 160 days
Opportunity summary
See Archie’s verdict, returns by strategy and what to check before viewing.
About
Developed by Derwent London and designed by riba Stirling Prize winning architectural practice Allford Hall Monaghan Morris, The Sweeps Building is so named due to it's original purpose as a bullion refinery that specialised in extracting precious metals from the floor sweepings of nearby jewellery manufacturers in Hatton Garden.
14 loft style apartments form part of a wider mixed use city fringe urban quarter known as The Johnson Building, set behind a handsome Art Deco facade dating from 1927 by legendary architects of the period Wallis, Gilbert & Partners - famous for landmarks including The Hoover Building, Victoria Coach Station, the emi factory in Hayes and the former Birmingham offices of the General Electric Company.
Elements of the building's original industrial scale are present, including large full height crittal style windows, generous ceiling heights with visible cast-concrete cross-members, creating an apartment with abundant natural light, a sense of space & volume and genuine character.
The main living space is dual aspect, with an open plan contemporary kitchen and views over bustling Leather Lane, a dual aspect principal bedroom with en-suite shower room is situated to the rear, with views over the quiet courtyard that forms part of the development.
A second double bedroom features a private balcony, with the third bedroom and family bathroom making up the rest of the lateral accommodation.
Leather Lane is a foodie favourite, being home to one of London's largest street food markets, offering a dizzying array of international cuisine and well known for some of the capital's finest falafel, with Nearby Hatton Garden well known as the centre of London's jewellery & gem trades.
The stylish city fringe neighbourhoods of Clerkenwell & Farringdon are only a few minutes walk to the east offering numerous restaurants, bars & clubs plus a wonderful architectural mix of original warehouses, fine examples of Victorian gothic as well as the vast Victorian landmark that is Smithfields market.
Transport connections abound, with the recently opened Elizabeth Line at Farringdon creating a convenient high speed hub, however the City of London, Lincoln's Inn and the West End are within easy walking distance to the East, South & West respectively, underlining this location's unique credentials as a true gateway linking London's financial, legal & entertainment districts.
London Borough of Camden Council Tax Band E - £2101 per annum (2022) Annual service charge approx £4000 per annum Leasehold - 983 years approx.
Value & comps
No previous sales on record.
Returns
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Archie refurb estimate: a Pro feature
0.0% below asking
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Deal
Properties like this can earn 2–3x BTL yields when converted to HMO, with retrofit costs around £10k/room. Sign in to see the full tier, yield projection, and cost breakdown.
Commercial properties like this can earn 30-50% higher yields when converted to residential under Class MA / Q / P / PA, with prior approval costing ~GBP 96/unit. Sign in to see the recommended route, yield uplift, and cost breakdown.
BRRR-suited properties can recycle 80-100% of investor capital on refi, leaving a high-yielding rental with most of the money out. Sign in to see the refurb cost stack, ARV projection, and refinance maths.
Detached + large garden = sub-division play. Pro tier unlocks the tier badge, plot size, uplift estimate, and regional land benchmark.
Short-lease flats trade at deep discount, but extending under the 1993 Act often costs far less than the discount. Pro tier unlocks the tier badge, premium breakdown, long-lease ARV and arbitrage maths.
See projected short-stay revenue vs a vanilla BTL for this property.
See real sub-let margins (HMO room rates & SA nightly rates) vs the landlord rent.
Area
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FAQ
About 5 Sweeps Building, 34 Leather Lane, Farringdon
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