Sector
Offices
Initial Yield
5.97%
Price
£6,650,000
Sale/Purchase
Purchase
The property comprises approximately 10,770 sq ft of office and retail accommodation within 3 buildings; 61 Beak Street, 71 Beak Street, and 67-69 Beak Street.
Both 67-69 and 71 comprise warehouse style office accommodation, whilst 65 contains a retail unit over ground and basement with residential on the upper parts, which have been sold off on long leases.
The property is let to 2 tenants on 3 leases at a passing rent of £419,800 pa with a weighted average unexpired lease term of 5.1 years to expiries.