LONDON OFFICE BUILDING FOR SALE, UK

Property Description

is the home of the insurance institution of London. The building is a leading example of radical Bowellism architecture in which the services for the building, such as ducts and lifts, are located on the exterior to maximise space in the interior.

The building consists of three main towers and three service towers around a central, rectangular space.

The building is 88 metres (289 ft) to the roof, with 14 floors. On top of each service core stand the cleaning cranes, increasing the overall height to 95.10 metres (312 ft). Modular in plan, each floor can be altered by addition or removal of partitions and walls.

•   Current income: £19m (£46.4/sqft)
•   362,000 sqft of lettable space (33630 sq m2)
•   Single Tenant – Society of Lloyds on FRI terms.
•   5 yearly upwards rent reviews
•   Lease expires in Feb 2031 with tenant break option in 2023.
•   4% yield to go up very soon
•   Low rent so re-gearing is possible very soon

•    Asking : £475m + VAT.