30 Minories, London EC3 - Disposal - City Investment - 2025
Minories 30, London, City of London, EC3N 1DD, UK
23 775 mètres carrés
Descriptif
- Freehold
- 38,527 sq ft (3,579 sq m) of office and retail accommodation
- Prominent Fitzrovia location, moments from Great Portland Street
- Excellent transport links with five London underground stations and the Elizabeth line within an easy walk
- Significant peninsula site, benefitting from 73 metres of triple aspect frontage onto Clipstone Street, Bolsover Street and Great Titchfield Street
- Highly reversionary passing rent of £60.69 per sq ft, with best-in-class nearby buildings achieving in excess of £135.00 per sq ft
- Opportunity to create a block date in Q4 2027, on all but the 1st floor and centre retail unit, enabling a comprehensive refurbishment including one additional storey of office accommodation, new communal roof terrace, reconfigured entrance, and additional end of journey amenity
- Opportunity to drive day one rents from £1.49m per annum to over £3.20m, capturing Fitzrovia’s 14% projected rental growth over the next 5 years
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Attributs
Durée
Freehold
Superficie du bâtiment nette
3 579 mètres carrés
Prix demandé
64 391 000 $
Média
Points forts de l'investissement
This exceptional property, combined with its significant asset management potential and highly reversionary income, provides immediate opportunities for significant value appreciation.
Indicative business plan:
- Reconfiguration of the reception to create an improved arrival experience
- Creation of new end of journey amenity
- A comprehensive CAT A refurbishment on floors 2–5 inclusive
- Creation of a new cafe on the corner of Great Titchfield Street and Clipstone Street
- Additional massing through the creation of a new sixth floor
- Construction of a communal terrace
- Opportunity to explore permitted development rights
- Utilise Section 30 rights to gain vacant possession of the west retail unit
Indicative returns:
- Potential to drive day one rents from £1.49m per annum to in excess of £3.20m per annum, reflecting a yield on cost of 5.70%
- Indicative financial returns, assuming a base case business plan, excluding any additional massing, produce an unlevered IRR of 12.80%, levered IRR of 16.00%, and a levered equity multiple of 1.63x0%, levered IRR of 16.00%, and a levered equity multiple of 1.63x
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Dernière mise à jour
22 mai 2025
