Office for sale in Vincent Square, London SW1P

Freehold Investment / Development Opportunity

Overview

Prominent freehold corner property with views of Vincent Square, ideal for investors, developers and owner occupiers.
Arranged over basement, ground and five upper floors totalling 26,716 sq ft, plus 5th floor roof terrace and small basement car park.
Part-let with a WAULT of 1.4 years to break and 4.4 to expiry on let accommodation.
Passing rent £414,195 per annum reflecting a low average rent of £36.13 per sq ft per annum.
Significant asset management opportunities including a comprehensive refurbishment and reletting of the offices.
Potential (sttp) for the following:

- Increase the massing and reconfigure the cores and WCs
- Medical/Senior Living Use
- Suitable for Educational Use
- Conversion to Residential

The Vendors are seeking offers in excess of £15 million for the freehold interest, subject to contract and exclusive of VAT.

A purchase at this level reflects a net initial yield of 2.59% and a reversionary yield of 6.48% assuming the vacant floors are let at a rent of £45.00 per sq ft. Taking into account the purchaser's cost of 6.73%, a sale at this level equates to a low capital value of £561 per sq ft.

Viewings

Strictly by appointment.