Core Covent Garden Multi Let Office Investment

Constructed circa 1927 in traditional warehouse style with Crittal windows and concrete frame with brick facings. It is a bold utilitarian statement that has been respectfully renovated by the present owners. Comprising 19,568 sq ft of offices arranged over ground and two upper floors. Majority comprehensively refurbished since 2021 with EPC B rating. High-quality open-plan warehouse-style offices, arranged across two units per floor, benefitting from excellent natural light and high ceilings. New end of journey facilities including bike parking and shower facilities at ground level. The offices are multi let to 3 tenants at a low overall rent reflecting £59.61 psf, subject to a guarantee on the vacant 2nd floor suite at £65 psf. There are 8 residential units on the 3rd to 5th floors which have been sold off, currently producing £3,200 pa. Combined overall rent of £1,170,863.50 pa. Asset management opportunities to increase rental tone through lease extensions, refurbishment and setting a new rental tone on letting of the 2nd floor suite and investigating residential extension premiums.