Second Home office on the block

A 60,551 sq ft office block nestled between Spitalfields and Shoreditch has been put up for sale on behalf of fixed-charge receivers. Eight Hanbury Street, E1, let to flex workspace group Second Home until March 2034, is being sold by Allsop, with offers invited. The freehold sale also includes 6,700 sq ft of residential accommodation let to Anglo American Education Services until July 2033. The property, which occupies a half-acre plot, provides annual income of £2.7m. Allsop said the building offered “significant future redevelopment potential” with the ability to convert to residential under permitted development rights, or to co-living and other use classes with the necessary consent. Potential designs have been drawn up by GPAD Architects and planner DP9 that include using land to the east of the plot for residential development, a refurbishment of the office space and the creation of a 61-flat scheme through the use of PDR. The commercial element of the building has an EPC rating of E to C, with the residential rated B.