7 MOORGATE, LONDON EC2 - INVESTMENT OPPORTUNITY
29th May 2014
Gryphon Property Partners announce the sale of 7 Moorgate. Gryphon have been instructed by Aberdeen Asset Management to sell the long leasehold of 7 Moorgate, EC2.
The long leasehold currently runs until 1st February 2141 (currently over 126.5 years unexpired) and is mutli-let to 11 occupational tenants. Gryphon are seeking offers in excess of £24,600,000 subject to contract and exclusive of VAT. A purchase at this level reflects a net initial yield of approximately 5.64% on completion of the 4th floor lease renewal at £45.00 per sq ft and a low capital value of only £574 per sq ft. The total passing rent of £1,546,236 per annum, i.e. approx. of £41.00 per sq ft on the ground and upper floors. The net rent is circa £1,468,924 per annum, having deducted the head rent.
7 Moorgate is ideally located in the heart of the City of London, just 50 metres away from the Bank of England. The property occupies a prominent corner location on the west side of Moorgate close to the junction with Gresham Street and Lothbury.
7 Moorgate was redeveloped in 1990 behind the original 19th century façade; the building is comprised of 42,851 sq ft of largely column free, air conditioned and ancillary accommodation. The ground floor provides a prominent entrance through wrought iron gates, into the marble-lined hall leading to reception. The ground and upper levels (up to 7th) vary between 4,000 sq ft and 5,750 sq ft, there is also a lower ground and basement space available.
The floor plates are arranged around the central core and provide:
· Raised access floors
· Metal tile suspended ceilings
· VRF air conditioning
· Double glazing
· Two 8 person passenger lifts
· Male and female W/Cs on alternate floors
· Shower facilities on basement, ground, 2nd and 4th floors
If you would like to see a brochure for this investment opportunity or if you would like to speak to someone regarding further details please call 0203 440 9800 or email:
Mike Pope (email@example.com)
Jeremy Trice (Jeremy.firstname.lastname@example.org)