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London 105,410 sq ft, yield of 5.01% comprising Office, Retail and Residential accommodation , An exceptional £35 million redevelopment of the property behind a retained structure was completed in 2017, delivering a striking cobalt blue fanned bay façade TOP INVEST net initial yield of 5.01% in the UK. Freehold. • Located in the heart of London , a submarket that has undergone a real estate, transport infrastructure and placemaking transformation over the past 15 years through significant public and private investment. • Excellent transport links given the building’s situation directly adjacent to Victoria Station, one of London’s key transport hubs that offers connections to both mainline and underground services. • An exceptional £35 million redevelopment of the property behind a retained structure was completed in 2017, delivering a striking cobalt blue fanned bay façade. •Excellent’ rating. • High-quality, mixed-use asset totaling 105,410 sq ft, comprising Office, Retail and Residential accommodation. •Office accommodation let to London Centre Limited, trading as Spaces, until February 2036, of firing long-term income with RPIx-linked rent reviews to guarantee rental performance. • Retail accommodation let to JD Wetherspoon until April 2047 (tenant break option in 2032), with fixed five-yearly rental uplifts. • 14 high-quality residential apartments located on seventh to ninth floors with panoramic views across the London cityscape from extensive roof and garden terraces. • An attractive unexpired term over the commercial element of 13.5 years to expiry. • Total income of £6,200,575 per annum, reflecting £63.51 per sq ft on the office accommodation. Offices are invited in excess of £117.160,000, subject to contract and exclusive of VAT. This reflects a net initial yield of 5.01% (assuming purchaser’s costs of 6.79%) and a capital value of £1,100 per sq ft. Direct buyers or representatives only. |
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