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Multi-let freehold office investment

Richmond, United KingdomUnlock address

89%

£19.860.000

Office

#13028

Core+, Value-Add

21 Feb 2024

Property Details

Broker

For sale

28,162 sq.ft.

2,616 m²

Leasable area

705 £/sq.ft.

7,591 £/m²

5.75 %

6

Freehold

X

Fees

0.00 %

0.40 %

0.00 %

0.40 %

Investment Overview

A landmark multi-let Freehold office investment, located in a prime Greater London location. Prominently positioned, in the heart of Richmond, Spencer House comprises a self contained office building on a half-acre site arranged over ground and four upper floors totalling 28,162 sq ft (NIA). Specification includes fully accessible raised floors, air conditioning, suspended ceilings, a 10 person passenger lift, showers, and 19 car parking spaces. Fully let to six tenants, providing an attractive WAULT of 4.06 years to expiry. Passing rent of £1,219,284 per annum equating to a low average passing rent of £43.30 psf. Recent rental tone of £55.00 psf achieved within the building for unrefurbished space, outlining the significant reversionary potential available.