16-18 Beak Street, London, W1
London - M25
dba312
Tenure: Freehold
Tenancy: Multi-Let
Investment summary
• Attractive, six storey period building occupying a highly prominent corner site.
• Situated in a prime Soho position just off Regent Street, in direct proximity of Golden Square and Carnaby Street.
• Double fronted restaurant with self contained, high specification, triple aspect offices above.
• Total accommodation of 1,097.84 sq m (11,817 sq ft) with regular floorplates of approximately 1,700 sq ft over the upper floors.
• Multi let to five tenants with 46% of the income secured against the undoubted covenant of Pizza Express on a new unbroken 15 year lease.
• Total rent passing of £645,599 per annum.
• Newly let restaurant, and reversionary offices, let off a low average base rent of less than £50 per sq ft.
• Substantial freehold interest.
• Multiple asset management opportunities to enhance value.
• Seeking offers in excess of £12.85 million subject to contract and exclusive of VAT reflecting the following attractive yield profile and a capital value of £1,087 per sq ft:
• Net Initial Yield: 4.75%
• Equivalent Yield: 5.15%
• Reversionary Yield: 5.30%