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77 Bastwick St 16,837 SF 100% Leased Office Building London EC1V 3PZ $19,401,022 CAD ($1,152.28 CAD/SF) 8.90% Cap Rate
Executive Summary
77 Bastwick Street represents a rare opportunity to acquire a freehold office building in the heart of Clerkenwell, offering a high yielding medium-term income with clear potential for longer-term value enhancement.
The property is currently multi-let to three tenants with a single floor vacant. The current income produces an annual rent of £796,047 pa, reflecting a low passing rent of £57.92 per sq ft.
Offers are invited in excess of £10,500,000, subject to contract and exclusive of VAT. Pricing at this level reflects a topped-up net initial yield of 8.90% (assuming purchaser’s costs of 6.8%) and a low capital value of £624 per sq ft.
The property is currently multi-let to three tenants with a single floor vacant. The current income produces an annual rent of £796,047 pa, reflecting a low passing rent of £57.92 per sq ft.
Offers are invited in excess of £10,500,000, subject to contract and exclusive of VAT. Pricing at this level reflects a topped-up net initial yield of 8.90% (assuming purchaser’s costs of 6.8%) and a low capital value of £624 per sq ft.
Property Facts Sale Pending
Sale Type
Investment
Property Type
Office
Tenure
Freehold
Building Size
16,837 SF
Building Class
B
Year Built/Renovated
1967/2015
Price
$19,401,022 CAD
Price Per SF
$1,152.28 CAD
Cap Rate
8.90%
NOI
$1,726,691 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
6 Stories
Typical Floor Size
2,806 SF
Building FAR
1.61
Lot Size
0.24 AC
Parking
4 Spaces (0.24 Spaces per 1,000 SF Leased)
Amenities
- Energy Performance Rating - C
- Roof Terrace
- Bicycle Storage
- Demised WC facilities
- High Ceilings
- Direct Elevator Exposure
- Natural Light
- Reception
- Shower Facilities
- Hardwood Floors
- Air Conditioning
- Balcony
- Raised Floor System
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77 Bastwick St
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