100 Bunhill Row, EC1
Prime London Freehold Investment Opportunity
- Prominently located in the heart of Tech City, less than 250 metres from Silicon Roundabout and Old Street Station.
- Attractive corner modern office building situated on Bunhill Row between the iconic new developments of the Spectrum & Hylo.
- Providing 13,328 sq ft (1,238.2 sq m) of accommodation over lower ground, ground and three upper floors.
- The property benefits from a recent media style refurbishment within the common areas and over lower ground and ground floor offices.
- Multi-let to three tenants; Palladium International Limited , ADT Fire and Security PLC and Think Jam Limited with a WAULT of 4.31 years to expiries and 2.72 years to breaks.
- The total current rent is £631,350 per annum which equates to a low average passing rent of £47.37 per sq ft.
- Approximately 60% of the overall income is securely let to the strong covenants of ADT Fire and Security PLC & Palladium International Limited with for an average term of 3.76 years respectively.
- Opportunity to further enhance rental growth through upgrading the unrefurbished accommodation.
- The vendor is seeking offers in excess of £11,850,000 (Eleven Million, Eight Hundred and Fifty Thousand Pounds) subject to contract and exclusive of VAT, which reflects a net initial yield of 5.00% after unadjusted purchaser’s costs of 6.8%. This reflects a low capital value of £889 per sq ft.