Prime freehold opportunity located at the heart of Farringdon. - The property was comprehensively refurbished in 2020 to comprise self-contained office and ancillary accommodation arranged over lower ground, ground and three upper floors totalling 8,695 sq ft with a unique communal roof terrace. The office floor plates are regular in shape and benefit from exceptional levels of natural daylight to all elevations.
The property is multi-let to three occupiers let to three office occupiers at a rent of £478,120.50 per annum, reflecting a rent of approximately £54.99 per sq ft overall. The income provides a WAULT of 6.7 years to expiries and 3.5 years to break.
Offers are invited in excess of £9,140,000 subject to contract and exclusive of VAT. Pricing at this level reflects a net initial yield of 4.90% (assuming purchaser's costs of 6.69%) and a capital value of £1,051 per sq ft.