£40.760.000
Confirmation
Mixed-use virtual freehold asset
London, United Kingdom
Mixed use
#14250
Core+
29 Oct 2024
Property Details
Broker
For sale
19,072 sq.ft.
1,772 m²Leasable area
2,137 £/sq.ft.
23,002 £/m²4.70 %
4
Freehold
Fees
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.
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