INVESTMENT HIGHLIGHTS
- The property enjoys a coveted location just minutes from the Houses of Parliament and Westminster Abbey at the heart of Westminster.
- The property is split across 6 floors with 13 apartments plus ground floor with 2 commercial units.
- The ground floor has a total area of 3,217 sq ft GIA across the 2 commercial units. Current tenants are Pret a Manger with a FRI lease until 2038 and Leyland with a FRI lease until 2037. The annual rent generated from the commercial units is £200k.
- The residential scheme occupies a total NSA of 10,571 sq ft and is currently let to an operator with a 10 years FRI lease generating an annual rent of £670k.
- Overall the property has a WALT of 12 years and generates £870k annually. All the leases enjoy different mechanisms of rent reviews, upwards only.
- The current owner acquired the property in early 2020 and it's now looking to sale the asset with offers in the range of £26m.
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DEAL DATA ROOM
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