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Freehold Office Investment Opportunity

London, United Kingdom

87%

£7.000.000

Office

#35184

Core+

28 Oct 2024

Property Details

Broker

For sale

9,687 sq.ft.

900 m²

Leasable area

722 £/sq.ft.

7,777 £/m²

6.05 %

1

Freehold

X

Fees

0.00 %

0.50 %

0.00 %

0.50 %

Investment Overview

Grade A specification with modern exposed services, good ceiling heights, excellent light front and back and extensive outside space including a large communal roof top terrace with outstanding views. Arranged over lower ground to 4th floors extending to 9,687 sq ft with floor plates of c. 1,500 sq ft. EPC C. Single let to well-known architects, Allies & Morrison, until December 2029 (5.25 years unexpired) at a passing rent of £452,188.50 pa reflecting £46.68 psf overall, with a reversionary rent review in June 2025. Nearby lettings for similar space reflect around £65 to £75 psf+ underpinning a substantial reversion within 9 months. Substantially under-let, presenting opportunities for surrender discussions with the head tenant and to curate a multi tenanted leasing strategy in a building well-suited to fitted and managed solutions.