£41.000.000
Confirmation
Trophy multi-let office and leisure investment
Property Details
Broker
For sale
70,467 sq.ft.
6,547 m²Leasable area
581.83 £/sq.ft.
6,262 £/m²6.30 %
4
Freehold
Fees
Investment Overview
Building extends to 70,467 sq.ft, comprising 59,427 sq.ft of best-in-class offices and 11,040 sq.ft of restaurant / retail accommodation. EPC rating of A(7) and BREEAM ‘Very Good’ and all-electric office building. Fully-let to four outstanding tenants – FNZ, Nationwide Building Society, Franco Manca and Tattu. Income-weighted average Experian score of 98/100, reflecting ‘Very Low Risk’. Total net annual rental of £2,623,616 p.a, equating to £34.51/sq,ft on the offices and £49.37 - £52.13/sq.ft on the restaurant / retail. Excellent opportunity to capture substantial immediate reversion of over 15%, with all leases containing rent reviews in 2024. WAULT of 11.7 years to expiry and 10.2 years to nearest tenant break options, with 96% of contracted rent secure for over 10 years.
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