Orchard Street Investment Management has puts is prime property on the Strand up for sale for nearly £60m

The 48,550 sq ft freehold block, which sits between Charing Cross station and Land Securities’ HQ at 5 Strand, was comprehensively refurbished in 2011 to provide 41,735 sq ft of Grade A office and reception space over the 1st to 7th floors. The building is multi-let to tenants including Punter Southall, MBDA, Next, Paul and Crussh at a passing rent of £2.95m, reflecting an average office rent of £60.41 per sq ft. The asset is fully let to two office and three retail tenants (income split: 86% office / 14% retail).

The average weighted unexpired term on the property, which is not listed, is 7.7 years until the lease breaks or 8.3 years until lease expiries. Three ground and lower ground floor retail units are spread over 6,845 sq ft.


Source: James Buckley, CoStar News