Exciting times for Marldon as Farringdon shows continued strength
Marldon owns and operates both offices and serviced apartments between 66-69 Turnmill Street, which overlooks Farringdon station and leads onto Clerkenwell Road. Business continues to run smoothly and effectively in leasing both the offices and the serviced apartments. Headline office rents of £72.50 psf have been achieved, whilst Blueprint Living Apartments continues to do sterling work in maintaining fantastically high levels of occupancy in the serviced apartments located above their showroom at 66 Turnmill St.
Farringdon continues to be an area of great appeal due to its continued reputation as a food and drink hot spot and its centrality and accessibility. Sandwiched between the City to the south and east, and Clerkenwell to the north, Farringdon offers the best of London in one neat package, with great connectivity and a lively night-time scene.
An area known for its restaurants, Farringdon can boast being the home of British culinary institution St. John, as well as other top-level establishments like Sosharu and Anglo. However, the history of the area can also be seen in its smorgasbord of historic watering holes, including The Jerusalem Tavern, Ye Olde Mitre and Butchers Hook and Cleaver, a nod to the adjacent Smithfield Market.
Located in the City Fringe submarket, Farringdon has shown signs of robust growth in market rents and encouraging levels of net-absoprtion, with a stable forecast for the area mitigating any Brexit-induced fears of a slump in rental prices.
The opening of Crossrail is drawing ever nearer, with Farringdon having undergone extensive development in order to accommodate what is one of the largest and most exciting infrastructure projects ever undertaken in this country. Stretching from Reading in the west to Essex in the east, Crossrail is expected to offer an increase of land value worth up to £5.5 billion, with an estimated 10% increase in commercial office space value around Crossrail stations above normal baseline projections. All this paints an encouraging picture for Marldon, who have office spaces and serviced apartments (let by Marldon subsidiary Blueprint Living Apartments) overlooking Farringdon Station on Turnmill St.
Offering a combination of strong economic performance with great cultural attractions, Farringdon is set to continue to be a highly desirable part of London – from those seeking office spaces to those looking to stay in the area or those just after a refreshing pint.