A little more about the property

• Highly prominent corner freehold
• Prime City Core location, almost opposite Bloomberg’s European Headquarters and equidistant between the Bank of England and St Paul’s Cathedral
• Exceptional connectivity with Cannon Street, Mansion House and Bank stations all within 200 metres
• Attractive period façade
• Approximately 19,633 sq ft (1,823.9 sq m) of high quality office and ancillary accommodation over lower ground, ground and five upper floors
• Multi-let to eight tenants with a weighted average unexpired term of 3.9 years to expiries (3.4 years to breaks) on the let accommodation
• One fitted vacant floor offering speed to market and excellent potential to capture premium City rents
• Passing rent, inclusive of rental top-ups and guarantees, of £1,099,603 per annum, reflecting £56 per sq ft overall
• Highly reversionary in the context of prime City rents with nearby evidence close to £80 per sq ft
• Significant value enhancement opportunities including lease renewals and the creation of terraces on the fourth and fifth floors
• Offers in excess of £17,500,000, subject to contract and exclusive of VAT, for the freehold interest
• A purchase at this level reflects an attractive net initial yield of 5.88% (assuming purchaser costs of 6.8%) and a low capital value of £891 per sq ft

Property features

Net Initial Yield 7%

Investment