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Prime Soho Value-Add Opportunity

London, United KingdomUnlock address

78%

£49.000.000

Mixed use

#13703

Value-Add

3 Feb 2024

Property Details

Broker

For sale

29,265 sq.ft.

2,719 m²

Leasable area

1,674 £/sq.ft.

18,021 £/m²

Freehold

X

Fees

0.00 %

0.50 %

0.00 %

0.30 %

Investment Overview

Prime, mixed-use corner building situated in the heart of Soho with dual frontage onto Frith Street and Bateman Street. 29,265 sq ft of office, retail and residential accommodation, arranged over basement, ground and four upper floors. Multi-let to a diverse range of occupiers, producing a total passing rent of £1,554,180 per annum, reflecting an exceptionally low £53 per sq ft. Highly reversionary when set against prime Soho office rents in excess of £100 per sq ft. Full vacant possession achievable in December 2022. SODA feasibility study for a refurbishment, reconfiguration and extension of the existing building. Rare opportunity to deliver a striking, best-in-class ESG-focused building of 36,441 sq ft (25% increase). Opportunity to explore alternative uses including members club, hotel or owner occupation (subject to necessary to consents).