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20 - 24 Carlton House Terrace, London, SW1

London - M25

dba296

Tenure: Long Leasehold
Tenancy: Single Let

Investment summary

•90,720 sq ft Grade A offices on a 0.63 acre site in Prime St James's location.

•Anglo American Plc’s global headquarters; offices let in entirety for a further 9.5 years’ term certain to the 5A1 covenant of Anglo American Services (UK) Ltd, guaranteed by the 5A1 covenant of Anglo American Plc.

•Striking landmark building with 8 office floors, redeveloped by P&O Estates in 1998.

•Typical floorplates of 11,000 sq ft to 14,000 sq ft, with Grade A specification and modern finishes.

•Annual passing rent on the offices of £4,675,000, circa £51.53 per sq ft, rising to £4,910,000 on 25 March 2011.

•Site also includes a self-contained residential block with 14 apartments let on leases expiring 2070 and a 302 space car park let to the City of Westminster until 2073 at a rent of 50% of net income.

•125 year headlease from The Crown Estate (111 years unexpired), at 10% of gross rents received, subject to a minimum of £240,000 per annum.

•Gross passing rent £4,829,170, net passing rent £4,346,253 for the year ending 25 March 2011.