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Prime Midtown Investment Opportunity

London, United Kingdom

72%

£42.500.000

Mixed use

#34662

Core+

27 Oct 2024

Property Details

Broker

For sale

51,483 sq.ft.

4,783 m²

Leasable area

825 £/sq.ft.

8,885 £/m²

6.69 %

Freehold

X

Fees

0.00 %

0.30 %

0.00 %

0.30 %

Investment Overview

Prime Midtown location where Covent Garden meets Holborn, two of London’s most vibrant sub-markets; Excellent connectivity located within a short walk of Underground train services at Holborn, Covent Garden and Temple; The building has been subject to a high-quality rolling refurbishment, including enhanced tenant amenity and a newly refurbished reception; Behind the attractive period façade, York House provides 51,483 sq ft (4,782.9 sq m) of office, leisure and ancillary accommodation over lower ground, ground and eight upper floors with a typical floor plate of c.5,900 sq ft; The office is securely let to seven office and one leisure occupier with a WAULT of 5.88 years and 4.25 years to break options (on let accommodation); Highly reversionary passing rent averaging £59.02 per sq ft overall (on let accommodation) and £62.17 per sq ft on the let office accommodation; Property benefits from 52% of the contracted income being subject to rent reviews within the next two years; Significant short, medium and long-term asset management opportunities to create value.