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Prime City freehold

London, United KingdomUnlock address

87%

£29.700.000

Office

#16365

Core+, Value-Add

1 Mar 2024

Property Details

Broker

For sale

45,389 sq.ft.

4,217 m²

Leasable area

654 £/sq.ft.

7,042 £/m²

5.25 %

2

Freehold

X

Fees

0.00 %

0.40 %

0.00 %

0.40 %

Investment Overview

Approximately 45,389 sq ft of office, retail and ancillary accommodation arranged over basement, lower ground, ground and six upper floors. Attractive Grade II listed façade, designed by renowned architect Sir Edwin Lutyens. Excellent connectivity with access to several London stations, offering multiple transport options across the capital and beyond, including the Elizabeth line from Liverpool Street. The office accommodation is located on the upper floors and consists of approximately 29,025 sq ft (2,696.5 sq m). The floors provide between 3,500 - 6,000 sq ft of regular accommodation with minimal columns on-floor. The main core is located on the western perimeter of the property with feature stairs and two passenger lifts servicing lower ground to sixth floor, alongside male and female toilets on all levels. The fourth and fifth floor benefit from external terracing. Multi-let to two office tenants and one retail tenant providing a passing rent of £1,666,696 per annum, reflecting a low overall rent of £36.72 per sq ft. Provides a WAULT of 4.0 years certain. Significant potential to refurbish and extend or to undertake a redevelopment behind the retained façade, subject to the necessary consents.