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Office center in the heart of London

177,800,000 £
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Total area: 21,329 m² Yield: 6.0% Built in 1989
  • Absolute return: 10,643,900 €
  • Land area: 4,700 m²
  • 7-floor building
  • Percentage of the rented area: 100%
  • Number of parking lots: 24

It is an office complex consisting of two buildings, located in the City, London's central area.

Description

The property consists of a five-story North and the seven-story South buildings with a total area of 21,329 m².

The plot of 4,700 m².

The buildings, finished in 1989, are connected with each other via the general reception, which is accessible from the impressive plaza.

North building consists of 4 commercial premises and offices, while the South building accomodates offices and ancillary rooms.

The property is predominantly of steel frame construction supported on piles, with a combination of stone and metal cladding.

Tenure: Freehold.

Both buildings are fully leased.

Equipment

  • perforated metal suspended ceilings;
  • raised access metal floors in main office areas;
  • 6x24 person passenger lifts, 3x8 person fireman’s lifts and 1xgoods lift in the South Building, with 2x10 person passenger lifts in the North Building;
  • two sets of male and female lavatories on all floors;
  • combination of VAV with handling units on each floor and fan coil air conditioning systems;
  • 24 car parking spaces;
  • secure storage for 275 bicycles;
  • 16 showers.

Financial performance

Absolute income is 9,050,475 £.

The current yield of 6%.

Transaction costs of 1,8%.

Tenants

Anchor tenant is the huge company with the annual income of more than £1,2 million.

The lease agreement is signed until 2021.

Agreements with three other tenants are also signed until 2021.

Location and nearby objects

The property is located in the very heart of London.

There are plenty of offices and worldwide corporate occupiers nearby.

The metro station is in the immediate vicinity of the area, and each London airport can be reached within an hour.

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Julia Morozova
Julia Morozova
Senior Investment Consultant
+44 20 3608 1267
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