Office

To buy

1 Vincent Square, London, SW1P 2PN

Office | 26,716 Sq Ft

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Office

To buy

1 Vincent Square, London, SW1P 2PN

26,716 Sq Ft

Freehold Investment / Development Opportunity

Description

Prominent freehold corner property with views of Vincent Square, ideal for investors, developers and owner occupiers.
Arranged over basement, ground and five upper floors totalling 26,716 sq ft, plus 5th floor roof terrace and small basement car park.
Part-let with a WAULT of 1.4 years to break and 4.4 to expiry on let accommodation.
Passing rent £414,195 per annum reflecting a low average rent of £36.13 per sq ft per annum.
Significant asset management opportunities including a comprehensive refurbishment and reletting of the offices.
Potential (STTP) for the following:

- Increase the massing and reconfigure the cores and WCs
- Medical/Senior Living Use
- Suitable for Educational Use
- Conversion to Residential

The Vendors are seeking offers in excess of £15 million for the freehold interest, subject to contract and exclusive of VAT.

A purchase at this level reflects a net initial yield of 2.59% and a reversionary yield of 6.48% assuming the vacant floors are let at a rent of £45.00 per sq ft. Taking into account the purchaser's cost of 6.73%, a sale at this level equates to a low capital value of £561 per sq ft.

Amenities

  • Air conditioning
  • Part underfloor trunking
  • Manned reception
  • 2 passenger lifts
  • 3 showers
  • Bike storage
  • LG7 lighting
  • CAT 6 cabling (4th)
  • Ground floor DDA compliant
  • Secure drop off parking
  • Storage space
  • Excellent natural light

Accommodation

The areas quoted below are net internal;

  • Floor
  • Size (Sq Ft)
  • Availability
  • 5th (Offices)
  • 3,315
  • Available
  • 4th (Offices)
  • 4,575
  • Available
  • 3rd (Offices)
  • 4,575
  • Available
  • 2nd (Offices)
  • 4,575
  • Available
  • 1st (Offices)
  • 4,575
  • Available
  • Ground (Central Offices)
  • 1,877
  • Available
  • Ground (Offices Rear)
  • 1,050
  • Available
  • Ground (Recep & Man Offices)
  • 771
  • Available
  • Lower Ground (Storage/Ancillary)
  • 1,403
  • Available

* Subject to re-measurement and IPMS 3 Measurements available upon request

Epc

The premises has an EPC rating of D89.

Legal Costs

Each party to be responsible for their own legal costs incurred in the transaction.