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Prime City of London Development Opportunity

London, United Kingdom

75%

£15.000.000

Development

#35334

Value-Add

19 Nov 2024

Property Details

Broker

For sale

58,893 sq.ft.

5,471 m²

Leasable area

254 £/sq.ft.

2,741 £/m²

Leasehold

155

X

Fees

0.00 %

0.40 %

0.00 %

0.40 %

Investment Overview

A rare opportunity to deliver a high-quality commercial scheme in the heart of the City. Highly prominent corner site located opposite Broadgate and Liverpool Street’s Elizabeth Line entrance. Two adjacent stripped-out commercial buildings previously totalling 58,893 sq ft net internal area. – Broad Street Place is arranged over basement, ground, mezzanine and six upper floors. – Eldon Street is arranged over two basement levels, ground and five upper floors. Both buildings are vacant and stripped back to shell and core, primed to be repositioned. Separate planning consents for each building were achieved in 2023 for standalone comprehensive refurbishment and extension schemes with a combined net internal area of approximately 70,200 sq ft. New long leasehold from The City of London Corporation for a term of 155 years from completion at 5% of rents receivable, subject to a minimum rent.