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Repositioning opportunity in the heart of the city of london

London, United KingdomUnlock address

80%

£30.000.000

Mixed use

#35153

Value-Add

2 Oct 2024

Property Details

Broker

For sale

60,368 sq.ft.

5,608 m²

GIA

496.95 £/sq.ft.

5,349 £/m²

7.55 %

2

Freehold

X

Fees

0.00 %

0.40 %

0.00 %

0.40 %

Investment Overview

A core City of London location within 150 metres of the Bank of England, the financial centre of Europe. Exceptional retail and leisure offering on the doorstep of The Royal Exchange, One New Change, Bloomberg Arcade and Broadgate Estate. Comprises 60,368 sq ft (78,015 sq ft GIA) of office, leisure and ancillary accommodation arranged over basement, lower ground, ground and five upper floors Exceptional natural light across three elevations with a north facing terrace providing views over the City of London tower cluster. Hotel and office feasibility studies have been undertaken - highlighting the potential to increase massing and add terraces to create a best in class office building, or provide a new hotel, subject to achieving the necessary planning consent. Building benefits from a positive pre-application from the City of London for the repositioning of the Property into a new hotel providing 94,905 sq ft (GIA) via two additional floors. Multi let to one office and one retail tenant, providing a topped-up passing rent of £2,307,119 per annum, reflecting £38.22 per sq ft. Full vacant possession of the Property is achievable from 28th September 2025.