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.