The Hatton Garden jewellery vault targeted by burglars in a £10m raid earlier this year is on the market.
Hoffman Partners is acting for Hatton Garden Safe Deposit Ltd – which owns the leasehold on the 1,293 sq ft underground vault and ancillary offices at 88-90 Hatton Garden, EC1.
The leasehold sale comes two months after Harold Sorsky and Stella Davis of Streets SPW were appointed joint liquidators of Hatton Garden Safe Deposit Ltd.
Sudanese father and son Mahendra and Manish Bavishi are understood to have owned the leasehold for the vaults since 1948.
The lease was not due to expire for 18 years, but the company became insolvent in August, following the damage to its reputation caused by the jewellery heist.
David Pearl’s Structadene property investment and development company owns the property, charging £320 per year in ground rent and taking 5% of turnover from the safe deposits.
Burglars broke into the store over Easter weekend via a lift shaft and used a drill to create a 20in deep, 10in high and 18in wide hole in the vault wall, which has since been secured.
It is understood the leasehold will include security arrangements for more than 1,000 safe boxes contained inside the vault.
Tony Gerver, property consultant at Hoffman Partners who is acting on behalf of the liquidators, said offers over £200,000 will be sought for the leasehold which will expire in December 2033.
Viewings will take place this week.
louisa.clarence-smith@estatesgazette.com
