£75.35 million / NIY – 3.98% / £1,713 per sq ft
Royal London Asset Management
CBRE advised Royal London Asset Management on its successful acquisition of this high quality, garden square office building. The transaction represented a rare opportunity to acquire a prime, freehold, Soho property in a supply constrained market.
The asset provides a diverse income stream and a low passing rent, offering good growth potential given its location and proximity to Elizabeth Line services at Tottenham Court Road.
The outstanding rent reviews upon acquisition allowed our client immediate access to reversion and the CBRE Investor Leasing team was retained to market the vacant floor. Following completion of the transaction, the space was let at a rent in excess of the underwrite assumptions.