Multi-let office repositioning opportunity

Self-contained office campus comprising two connected buildings with a Central Courtyard / coffee pod and totalling 77,592 sq ft NIA. Highly prominent with frontage onto Elstree Way and immediately adjacent to the new Sky Studios Campus - expected to bring £3 billion of investment in the first 5 years alone. Multi-let to seven diverse tenants from sectors including health, F&B, fashion, real estate and tech/ IT. 43% of the income is secured against a PLC in the growing healthcare sector & 85% of the income is secured against ‘Very Low Risk’ or ‘Below Average Risk’ Covenants. Rental income of £969,003 per annum, reflecting a highly reversionary £21.58 per sq ft on the let space (this compares to the new top rent of £32.50 per sq ft which has recently been achieved on Cat A+ space in Borehamwood). Recent rent reviews agreed at a 39% uplift / £25.72 per sq ft* with outstanding rent reviews on 58% of the income. WAULT of 4.5 years to expiry & 3.5 years to break. 285 car parking spaces reflecting a car ratio of 1:272 sq ft.