Property Description
• Riverside, central London location with immediate access to the City of London, home to the world’s largest financial and professional companies, alongside local landmarks such as St Paul’s Cathedral and the Bank of England.
• Prominent 1.67 acres (0.70 hectares) site.
• 274,175 sq ft of highly flexible Grade A office accommodation, with floorplates varying from 3,845 sq ft to 44,052 sq ft around a central, glass atrium offering excellent natural light to the office floors, and communal space.
• Within a short walk of 6 stations, namely Mansion House, Cannon Street, Blackfriars, City Thameslink, St Paul’s, and Bank.
• Extensive communal amenity including a private gym, swimming pool and end of trip facilities, alongside a business lounge and coffee shop within the central atrium.
• Multi-let to 11 tenants, producing a gross topped-up passing rent of £14,935,621 equating to a highly reversionary rent of £56.59 per sq ft, compared to prime City rents.
• Weighted average unexpired lease term of 6.9 years to expiry and 5.3 years to the earliest determination.
• Potential to drive performance through lease renewals with the existing tenants, re-letting of the vacant space or via several deliverable initiatives such as a new roof terrace, sustainability improvements and additional end of trip facilities.
• Held long leasehold from The Master and Wardens of the Vintners Company for a further 114 years at a gearing of (i) the greater of £250,000 or (ii) 7.5% of occupational rents received, on a quarterly basis.