197/207 City Road, London, EC1V
London - M25
dba305
Tenure: Freehold
Tenancy: Multi let
Investment summary
• Prominent multi let mixed use investment comprising three self contained buildings.
• Situated on City Road, a short distance from Old Street Roundabout and Underground Station in a growth area of London.
• Well specified accommodation totalling 3,001.33 sq m (32,306 sq ft) with rear yard and car parking.
• Each building is arranged over five storeys plus lower ground, with typical floorplates of 139.35 - 185.81 sq m (1,500 - 2,000 sq ft).
• Let to 12 tenants on 19 effective Full Repairing and Insuring leases, providing a total income of £543,731 per annum.
• Occupiers include Moorfields Eye Hospital, Altlaw, The Co-operative Travel Management, Jamie Oliver’s Fifteen Restaurant, and Absolute Publishing.
• Freehold interest.
• Ongoing tenant expansion from Altlaw and Moorfields Eye Hospital, respectively accounting for 17% and 14% of the income.
• Asset management opportunities offering the potential to enhance value.
• Quoting £7.6 million reflecting the following attractive yield profile and low capital value of £235 per sq ft:
• Net Initial Yield: 6.76%
• Equivalent Yield: 7.00%
• Reversionary Yield: 7.27%