Old Sorting House, 46 Essex Road, London N1 8LN

Scheme name: Old Sorting House
Location: Islington, London
Use: Office, Residential
Date purchased: 2016
Programme: 18 months
Size: 23,405 sq ft
Contract value: £8.4m
GDV: £27.3m
Rental Value: £1.4m p.a

Specification summary: Martin’s Properties acquired this former Royal Mail sorting office and secured planning consent for a major refurbishment, extension and conversion into HQ offices, 2 SME office units and 2 apartments prior to managing the construction. Located on the corner of Essex Road and Packington Street within the Borough of Islington, Martin’s Properties successfully promoted a mixed use scheme through planning, working with the conservation office and local community stakeholder groups. The scheme involved extending the roof height of the main building and adding a mezzanine floor to generate additional floorspace as well as creating 2 self-contained SME units for sale and 2 self contained residential apartments for sale. Martin’s Properties let the main office building to New Bridge Health Ltd on a 10 year lease, at a rent of £60 psf prior to practical completion.

Completion date: 2019
Sold: 2020