£23.500.000
Confirmation
Newly refurbished multi-let Southbank opportunity
London, United Kingdom
Office
#35715
Core+
8 Feb 2025
Property Details
Broker
For sale
29,748 sq.ft.
2,764 m²Leasable area
789 £/sq.ft.
8,502 £/m²7.00 %
3
Freehold
Fees
Investment Overview
Occupying a prominent corner position in the vibrant and historic area of Shad Thames close to Butler’s Wharf and Tower Bridge, within the area of Central London that is currently witnessing the most pronounced rental growth. 29,748 square feet (2,763.7 square metres) total net internal area arranged over lower ground, upper ground and first to fifth floors plus 15 car parking spaces in the adjacent development. Significant occupier amenity provision with a high quality end of trip facility, a new landscaped courtyard and a new fifth floor terrace providing views towards Tower Bridge and the City. Excellent ESG credentials being fully electric with highly efficient lighting, a heat recovery ventilation system and a ‘future-proofed’ EPC B rating. Multi-let producing a total income, inclusive of vendor guarantees, of £1,754,543 per annum, equating to only £58.98 per sq ft overall. WAULT of circa 7.1 years to lease expiries and circa 3.1 years to earliest determination, on the contracted income.
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