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Midtown multi-let office investment

London, United Kingdom

78%

£6.000.000

Office

#35089

Core+

28 Oct 2024

Property Details

Broker

For sale

9,669 sq.ft.

898 m²

Leasable area

620.54 £/sq.ft.

6,681 £/m²

7.43 %

8

Freehold

X

Fees

0.00 %

0.50 %

0.00 %

0.50 %

Investment Overview

Prime Central London location, where Midtown meets Farringdon, two of London’s most diverse and historic submarkets. Exceptional transport connectivity within a four minute walk of Chancery Lane Underground station and eight minutes from Farringdon station which benefits from the Elizabeth line. The property has been fully modernised on a rolling basis to provide approximately 9,669 sq ft (898 sq m) high-quality Grade A office and ancillary accommodation arranged over basement, ground and four upper floors, overlooking the attractive Verulam Gardens EPC ‘B’ (26) rating, one point below achieving an EPC ‘A’ . Regular shaped light filled floors with generous floor to ceiling heights typically of three metres Multi-let to eight tenants providing a well diversified income of £475,567 per annum reflecting £49.18 per sq ft overall (inclusive of rental top-up). Reversionary income stream with £54.59 per sq ft most recently achieved on the ground floor