27 Sep 2019
Prime Midtown Office Investment
Aston Rose has been instructed on the sale of Totara Park House, WC1.
The property is a multi-let office building, prominently located on the Gray’s Inn Road within close proximity to Chancery Lane Underground Station and Farringdon Station.
It comprises 8,203 sq ft arranged over lower ground, ground and five upper floors, with five tenants producing an income of £373,526 pa (£45.54 psf overall).
Asset management opportunities exist to refurbish individual floors to increase the rental value.
Offers are sought in excess of £7m for the Freehold interest in the property, subject to contract and exclusive of VAT. A purchase at this level would reflect a Net Initial Yield of 5% and a Capital Value of £853.35 per sq ft, assuming purchasers costs of 6.65%.
For full details and to arrange viewings, please contact:
- kenmorgan@astonrose.co.uk – 020 7079 1953
- tomcole@astonrose.co.uk – 020 7079 1947
- matthunter@astonrose.co.uk – 020 7079 1954
- samhume-kendall@astonrose.co.uk – 020 3846 3105