Rare opportunity to acquire two long let geared London office investments, either together or individually.

Investment summary

• Prime central location in the heart of Old Street and the Tech City Quarter. 
• Situated just 300m from Old Street Station (Northern Line Underground and National Rail) and Old Street ‘Silicon’ roundabout. 
• 140 Old Street and Discovery House, 28-42 Banner Street comprise two self-contained office buildings, located adjacent to one another. 
• Providing a combined 69,790 sq ft (6,483.65 sq m) of net office accommodation on a 0.57 acres (0.231 ha) site. 
• Secure long term income providing 114.5 years unexpired certain. 
• Low current rent of £162,500 pa, geared to 5.0% of the open market rent. 
• Immediate reversionary potential with outstanding rent reviews from March 2025. 
• Excellent asset management and development opportunity with potential to increase income in the short term or redevelop and extend the property in the long term (subject to necessary consents). 

Proposal

• 140 Old Street: Offers in excess of £780,000 (Seven Hundred and  Eighty Thousand Pounds). This price reflects an  attractive net initial yield of 4.62% after allowing for purchaser’s costs of 5.45%.Discovery House: offers in excess of £2,500,000 (NIY 4.68% after costs of 6.38%).
• Discovery House: Offers in excess of £2,500,000 (Two Million, Five Hundred Thousand Pounds). This price reflects an attractive net initial yield of 4.68% after allowing for purchaser’s costs of 6.38%.

Available to purchase individually or together.

Further information

For access to the data room or to arrange a viewing, please contact Simon, Akayla or Will.