London Investment Properties Track Record
160 Borough High Street, SE1
February 1, 2023
AREA
16,384 sq ft
TRANSACTION DATE
February 2023
TENURE
Long Leasehold (12% gearing)
TENANCY
Multi-let
RENT
£418,251m (£25.53 per sq ft)
WAULT
6.5 years
PRICING
£6.45 million / NIY – 4.99% / £394 per sq ft
VENDOR FORTRESS
Investment Group
PURCHASER
SE Land
DESCRIPTION
CBRE advised Fortress Investment Group on the long leasehold disposal of 160 Borough High Street to SE Land. The long leasehold interest was geared to 12% of rack rental value and relatively short with only 87 years unexpired. The 16,384 sq ft building was comprehensively refurbished in 2016, with approximately 50% of the accommodation let to 2 tenants. The WAULT on the occupied accommodation was 6.5 years to expiries, while the remaining space in the building was vacant.
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Contacts
Rob Jackson
Executive Director
Anna Tweed
Associate Director