A little more about the property

Approximately 45,389 sq ft of office, retail and ancillary accommodation arranged over basement, lower ground, ground and six upper floors.

Attractive Grade II listed façade, designed by renowned architect Sir Edwin Lutyens.

Excellent connectivity with access to several London stations, offering multiple transport options across the capital and beyond, including the Elizabeth line from Liverpool Street.

Multi-let to two office tenants and one retail tenant providing a passing rent of £1,666,696 per annum, reflecting a low overall rent of £36.72 per sq ft and providing a WAULT of 4.0 years certain.

Significant potential to refurbish and extend or to undertake a redevelopment behind the retained façade, subject to the necessary consents.

Offers are invited for the freehold interests in excess of £29,700,000, subject to contract and exclusive of VAT, reflecting a capital value of £654 per sq ft.

A purchase at this level would represent a net initial yield on the existing income of 5.25%, potentially rising to in excess of 7% on letting of the two vacant office floors, assuming purchaser’s costs of 6.80%.

Property features

Net Initial Yield 5.25%

Terrace

Investment

Basement storage

Commissionaire

Bike Store

Lockers