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Prominent office and retail building

London, United Kingdom

85%

£115.000.000

Mixed use

#12165

Core+

29 Oct 2024

Property Details

Broker

For sale

70,737 sq.ft.

6,572 m²

Leasable area

1,625 £/sq.ft.

17,498 £/m²

4.07 %

6

Freehold

X

Fees

0.00 %

0.20 %

0.00 %

0.20 %

Investment Overview

Prominent office and retail building. Prime Soho location at the core of the media, publishing and marketing sectors. Comprehensively refurbished to an exceptional standard to provide 70,737 sq ft (6,571.7 sq m) of office and retail space arranged over basement, ground and six upper floors. Multi-let to six tenants. 62% of the building by floor area is let for a weighted average term of 10.9 years to expiries and 7.3 years to tenants’ breaks. Remaining 38% is likely to become vacant in October 2022, providing an opportunity to reposition this space and secure enhanced terms. Total income of  5,002,295 per annum (c.  70.72 per sq ft overall). The building has a generous reception area which opens out into an attractive atrium. Typical floor plates provide c. 10,000 sq ft net internal area and are arranged around three sides of the large central atrium, with the core at the western side. This creates a ‘U’ shaped floor plate with an additional stair core on the eastern side. The property has an energy performance rating of B.