£49.000.000
Confirmation
Prime Soho Value-Add Opportunity
Property Details
Broker
For sale
29,265 sq.ft.
2,719 m²Leasable area
1,674 £/sq.ft.
18,021 £/m²Freehold
Fees
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).
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