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Prime Farringdon Office Investment

London, United Kingdom

89%

£34.900.000

Office

#35057

Core+, Value-Add

27 Oct 2024

Property Details

Broker

For sale

54,370 sq.ft.

5,051 m²

Leasable area

641 £/sq.ft.

6,909 £/m²

8.25 %

2

Freehold

X

Fees

0.00 %

0.40 %

0.00 %

0.40 %

Investment Overview

Two office buildings, which form a prominent corner site with fantastic views over the Grade I listed Charterhouse. Prime Central London location 100 metres from Barbican Station and 250 metres from Farringdon Station (East) entrance. Building 1: is an HQ office building comprising 47,611 sq ft arranged of LG, G and six upper floors. It is let in its entirety to Amazon UK Services Ltd at a passing rent of £2,664,475 per annum reflecting a low passing rent of £55.96 per sq ft until 01/04/2028 with a tenant break option on 31/03/2026. Building two: houses one of only two Amazon Audible recording studios in Europe. Property comprises 6,759 sq ft office building which was fully refurbished in Dec 2022. The building has a topped up passing rent of £410,520 per annum reflecting £60.74 per sq ft . Total topped up passing rent of £3,074,995 per annum reflecting a highly reversionary £56.56 per sq ft . Prime Farringdon and Barbican rents are £112.50 per sq ft.