Acquired

Prime City of London Office Investment, London EC3

8 Fenchurch Place, London EC3

Acquired for £74,000,000

Property Type:
Commercial
Sub Type:
Office
Tenure:
Long Leasehold
Net Initial Yield:
5.84%
Site Area:
98,647 sq.ft [9,165 sq.m]

Lease Term

Held on a long leasehold interest from Network Rail Infrastructure Limited for a remaining term of c. 169 years at a peppercorn rent.

Tenancy

Fully let on effective full repairing and insuring terms to a diverse mix of five tenants from the insurance, professional services and charitable sectors, with a WAULT of c. 9 years to lease expiries and 7 years to tenant break options.

Income

£4,399,900 per annum

Description

  • 8 Fenchurch Place is located in a prime EC3 City of London location, in the heart of the world’s largest insurance district.
  • Comprehensively refurbished in 2012.
  • 98,647 sq ft of highly specified office and ancillary accommodation arranged over lower ground, ground, mezzanines and five upper floors.
  • Reversionary income profile.