Douglas House, 131-151 Great Titchfield Street_Property for Sale

131-151 Great Titchfield Street, London, Greater London, W1W 6SL, UK

Douglas House, 131-151 Great Titchfield Street

Description

Single let freehold office in the heart of Fitzrovia
Located on Great Titchfield Street, one of Fitzrovia's principal streets, moments from the bustling interchanges of Clipstone Street, Great Portland Street and New Cavendish Street
43,541 sq ft NIA of premium workspace arranged over lower ground, ground and six upper floors, benefiting from exceptional amenity including a private gym and expansive roof terrace
Newly regeared lease, single let to TOG UK Properties Ltd (t/a FORA), expiring 27th June 2040, with 14.7 years unexpired
Reversionary passing rent of £2,965,000 per annum, reflecting a rent of £69.10 psf, with rents in close proximity agreed in excess of £110 per sq ft
Notice has been served on the tenant for the outstanding June 2025 rent review at £3,653,600 (£83.91 psf), giving a purchaser an immediate opportunity to capture significant rental uplift
Following the merger of TOG and FORA by Blackstone and Brockton, and subsequent restructuring, the tenant has a very strong covenant strength, a 'Very Low Risk' Creditsafe rating of 93 / A, and a surety with net assets of c£300m

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Attributes

Tenure

Freehold

Building area net

4,045 sm

WAULT

14.7 years

Media

Investment highlights

Offers invited for the freehold interest in excess of £52,000,000 reflecting a capital value of £1,194 per sq ft and a 5.34% NIY on the topped up income, and a reversionary yield of 6.58% on the rent review notice amount served.