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Mixed-use virtual freehold asset

London, United Kingdom

78%

£40.760.000

Mixed use

#14250

Core+

29 Oct 2024

Property Details

Broker

For sale

19,072 sq.ft.

1,772 m²

Leasable area

2,137 £/sq.ft.

23,002 £/m²

4.70 %

4

Freehold

X

Fees

0.00 %

0.40 %

0.00 %

0.40 %

Investment Overview

Unique opportunity to acquire a mixed-use asset on one of the busiest footfall streets in the West End. Held Virtual Freehold for a term of 250 years until 2241 at a peppercorn rent, offering 219 years unexpired; Strong retail recovery as headline rents have increased by 7.5% on 2019 equivalent levels. Comprises 19,072 sq ft (1,771.85 sq m) of comprehensively refurbished office (87%) and retail (13%) accommodation arranged over ground and six upper floors. Benefits from a communal south facing terrace with panoramic views of the River Thames and the South Bank. Current passing rent of £1,945,820 per annum (inclusive of top-ups). WAULT of 7.0 years on the office accommodation.