- No Commission
1 Westferry CircusFavourite
E14 4HA London
223,670.00 ft² (20,779.61 m²)
5.15 Initial Yield
- Located on the globally iconic Canary Wharf estate in Central London, benefitting from excellent transport connectivity that will be enhanced by the delivery of the Crossrail in 2018.
- Virtual freehold interest.
- Substantial site totalling approximately 0.86 acres (0.35 hectares).
- 223,670 sq ft (20,779.6 sq m) of office, retail and ancillary accommodation, arranged over three basement levels, ground and eight upper floors.
- Highly specified, flexible floor plates of between 13,463 sq ft (1,250.8 sq m) and 30,059 sq ft (2,792.6 sq m).
- Multi-let to four office tenants and two retail tenants, including Valero Energy Limited, PKF Littlejohn LLP and De Vere Limited.
- Total gross passing rent of £6,424,081.78 pa, reflecting a highly reversionary rent of £28.72 per sq ft overall. This compares favourably with current headline rents at Canary Wharf of £47.50 per sq ft.
- The total net passing rent is £6,422,741.78 per annum.
- Weighted Average Unexpired Lease Term of 5.1 years to lease expiries and 4.1 years to breaks (as at June 2017), with approximately 78% of the office accommodation subject to lease expiry in 2019.
- Offers exceptional reversionary potential for Central London, with 60% of the office income let at rents below £27.50 per sq ft.
- Provides significant asset management opportunites, including re-gears of the leases to the current occupiers, potential to reposition the building through refurbishment of the reception area and the office accommodation, and longer term scope to develop. a tower building on the site, subject to the required consents.
Canary Wharf is one of Europe's premier business districts and extends to over 16 million sq ft (1.5 million sq m) of highly specified office, retail and leisure accommodation.
- Bike Storage
- Car Parking
- Cycle spaces and lockers
- Disabled WCs
- Double height reception
- Finished floor to ceiling heights of 2.70m
- Male and female WCs
- Raised floors
- Suspended Ceiling
- Suspended metal tiled ceilings
- Typical slab to slab heights of 3.60m