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Office for sale in Westminster

London, United KingdomUnlock address

83%

£15.000.000

Office

#12770

Core+, Value-Add

3 Feb 2024

Property Details

Broker

Deactivated

12,750 sq.ft.

1,185 m²

Leasable area

1,176 £/sq.ft.

12,658 £/m²

Freehold

4

X

Fees

0.00 %

0.40 %

0.00 %

0.40 %

Investment Overview

Highly prominent corner building benefitting from natural light on three sides. The building comprises a self contained, 10-storey office building. Originally completed in 1974, the building was upgraded in 2018 with further reconfiguration to the ground and lower ground floor in 2021. The building comprises 13,696 sq ft NIA of office and ancillary accommodation across lower ground, ground and eight upper floors; Typical floorplates of 1,400 sq ft. The 3rd, part 4th, 5th and part 6th are currently let on leases with breaks and expiries between February 2022 and December 2026. The current passing rent is £283,644 per annum. The remaining accommodation is available to let, or suitable for owner occupation. Immediate asset management opportunities to drive rental performance with prime Victoria rents at £90.00psf. Short to medium term redevelopment opportunities to provide significant site massing via a commercial, residential or mixed-use scheme, subject to planning.