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3 Copthall Avenue, London: City , EC2R 7BH
not specified / Offices
Withdrawn - Last updated: 05 October 2020
- Core City of London location, situated approximately 120 metres north of the Bank of England.- Long leasehold interest expiring September 2130 from the Clothworkers Company at an annual rent equating to 10% of income received, subject to a minimum.The current head rent is 38,248.32 per annum.- 17,285 sq ft (1,605.8 sq m) of well specified office and ancillary accommodation arranged over lower ground and five upper floors.- The property provides flexible floorplates and benefits from excellent natural daylight along the main elevations.- Fully let to five tenants with an average weighted unexpired lease term of 3.9 years certain, as at January 2012.- The passing rent of 486,412.50 per annum reflects a low rent of 30.56 per sq ft on above ground accommodation providing an excellent opportunity to benefit from future rental growth.- The property produces a net rental income of 448,164.18 per annum, after deduction of the head rent.- The property provides excellent prospects to enhance value through active asset management and well-timed lease events. - Seeking offers in excess of 6,750,000 (Six Million Seven Hundred & Fifty Thousand Pounds), subject to contract and exclusive ofVAT. Net initial yield of 6.28% and a low capital value of 391 per sq ft.
Location
3 Copthall Avenue, London: City , EC2R 7BH, Greater London, London
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