Investment property for sale in London

This property is marketed by:
Colliers

Key Features

• VAV air conditioning with perimeter heating
• Metal tile suspended ceilings
• 1.5 metre planning grid
• Fully accessible raised floors (150mm–185mm)
• Finished floor-to-ceiling heights of between 2.40m
• and 3.50m
• Male and female WCs on each floor
• Two 12-person (1000 kg) passenger lifts serving all floors

Description

Excellent connectivity with Moorgate, Liverpool Street and Bank stations all within 500m, providing access across London via seven underground lines (including the Elizabeth line) and National Rail

Strategically positioned within an internationally recognised and discreet address, surrounded by major corporate occupiers including BlackRock, Rathbone Group Plc, Rothschild & Co, Seven IM, Standard Chartered Bank Plc, UBS AG and White & Case LLP

Long leasehold until 18 December 2123, held at a low gearing of 2.85% of rents received, with a minimum net head rent of £40,000 per annum. The current head rent payable is £50,687.24 per annum

The property comprises 43,694 sq ft of office and ancillary accommodation arranged over basement, lower ground, ground and six upper floors

Single let to Deutsche Bank AG on a reversionary lease expiring 11 December 2023, with an option to extend to 30 October 2024 A highly reversionary gross passing rent of £1,952,000 per annum equating to only £44.67 per sq ft and a net rent of £1,901,312.76 per annum

Opportunity to undertake a comprehensive refurbishment and extension of the existing building, subject to relevant consents. Other value enhancement initiatives include restructuring of the long leasehold interest