One Embassy Gardens, Vauxhall

JLL, with our joint agents CBRE, are pleased to present One Embassy Gardens, Vauxhall, London, United Kingdom.

1. Landmark headquarters office building developed in 2019, situated adjacent to the US Embassy and close to Apple’s European HQ at Battersea Power Station.

1. 159,375 sq ft (14,806 sq m) of grade A office accommodation across ground, mezzanine and 10 upper floors, with an extensive west-facing roof terrace on 10th floor.

1. 100% occupied, multi-let income stream generating £8,769,053 per annum reflecting a highly reversionary £56.30 per sq ft (topped up), with recent local open market lettings achieving up to £80.00 per sq ft.

1. A stepped rent mechanism on all Penguin Random House leases offers guaranteed rental performance in 2027 and 2029, underpinning a minimum uplift of £1,077,915 per annum (16% increase) post November 2029.

1. Penguin Random House provides 8.58 years unexpired, following a recently signed lease extension to November 2034, with an overall building WAULT of 7.72 years.

1. 76% of the building’s income is secured to Penguin Random House, the world’s largest trade book publisher, guaranteed by Bertelsmann UK Limited (rated 5A1 by Dun & Bradstreet). Other tenants comprise Perrigo Company PLC, Perrett Laver and Marie Curie.

1. Penguin Random House benefits from a private reception area and events space at ground floor level.

1. Located in the Vauxhall, Nine Elms, Battersea Opportunity Area (VNEBOA) which will provide 6.5 million sq ft of commercial space when complete.

1. The regeneration is equal to the commercial accommodation of King’s Cross and Paddington combined.

1. Close proximity to the Zone 1 Nine Elms Station and the Victoria Line and National Rail services at Vauxhall Station, providing both West End and City access in approximately 10 minutes.

1. Strong sustainability credentials including BREEAM ‘Excellent’ and EPC ‘B’. The building is also rated WiredScore ‘Platinum’.

999-year virtual freehold interest (c.990 years unexpired) at a peppercorn rent, held in a Jersey SPV.