Prime Freehold Investment Opportunity
Verified listing
Share:

Prime Freehold Investment Opportunity

London, United Kingdom

89%

£50.000.000

Office

#35648

Core+

30 Jan 2025

Property Details

Broker

For sale

52,012 sq.ft.

4,832 m²

Leasable area

961 £/sq.ft.

10,347 £/m²

6.26 %

6

Freehold

X

Fees

0.00 %

0.30 %

0.00 %

0.00 %

0.30 %

Investment Overview

Located within London’s Creative and Tech district, the hub of major global occupiers such as Adobe, Frontier, Wise and Amazon. Situated next to Old Street station and just a seven minute walk from Moorgate station, providing access to the Elizabeth line (Crossrail). Comprising 52,012 sq ft (4,832.1 sq m) of modern workspace arranged over lower ground, ground and six upper floors, offering excellent tenant amenity including external terraces, 80 cycle spaces and nine shower cubicles. 100% let to six tenants, from a variety of sectors, at a highly reversionary average net passing rent of only £64.26 psf overall, with nearby lettings at circa £90.00 psf. Three of the office floors, accounting for 44% of the contracted income, are subject to fixed rental increases. Nearly 90% of the income is subject to a 95 or higher Experian Delphi Score showing a low risk. WAULT of 6.3 years to lease expiry and 2.6 years to earliest determination.

BESbswy