Commercial Property in EC4

This is  beautiful building that has recently been totally refurbished to extremely high standards by tenant at a cost of £15m (April 2007)

1. Blue chip financial services tenant (large accountancy practice)
2. Leasehold price is £100m (MV £120m) for 135 year remaining lease
3. Rental income is £7.2m per annum rising by higher of RPI or 2% per annum
4. Break clause is in April 2019, when the current lease to tenant expires
5. Ground rent is higher of 4% or £200,000 per annum
6. At £100m gives 7.2% return on investment,
7. Has a debt with Barclays of £85m, which Barclays are happy to transfer to new owners on satisfaction of their own due diligence and risk assessments
8. £125m will buy the freehold as well

Seller requires “Proof of Funds”.

Please contact me for further information.

Edward Kirwan BSc (Hons)

Estate Mangement & Investment Portfolio Consultant

Please feel free to call or email me

0034 354 025 358

Skype: fincafantastica

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