30 Minories, London EC3 - Disposal - City Investment - 2025
Minories 30, London, City of London, EC3N 1DD, UK
23.775 vierkante meter
Beschrijving
- Edinburgh is Scotland's capital city, and one of the most dynamic and fastest growing cities in the UK.
- The city is renowned as both a major European commercial centre and a leading global tourist destination.
- George Street is uniquely regarded as both Edinburgh's most prestigious retailing street and a prime office address.
- High quality office building arranged over basement, ground and four upper floors extending to 56,183 sq ft with 21 secure basement car parking spaces.
- Rarely available modern, open plan floor plates of 10,000 sq ft - 11,000 sq ft behind a Category B listed Georgian facade.
- Single let to to TSB Bank Plc on FRI lease terms until 27th December 2031 (6.3 years unexpired term).
- TSB Bank Plc have an investment grade covenant strength with a long term credit rating of Baa1 from Moody's and reported pre-tax profits of £285.1 million for the 2024 financial year.
- Current passing rent of £1,485,000 per annum, reflecting an exceptionally low passing rental rate of £25.12 per sq ft for Edinburgh city centre.
- Opportunity to unlock rental growth with a forthcoming rent review on 26th December 2026.
- EPC 'B' Rating.
- Heritable Title (Scottish Equivalent of English Freehold).
...
Kenmerken
Bruto gebouwoppervlakte
5.220 vierkante meter
Bezettingspercentage
100%
WAULT tot vervaldatums
6.3 jaren
Vraagprijs
€ 21.452.000
NOI
€ 1.718.000
Media
Investeringskenmerken
RARE OPPORTUNITY
To acquire one of the most substantial, unencumbered office buildings on George Street, held in the same ownership for over 20 years.
MARKET DYNAMICS
Edinburgh is one of the UK’s strongest regional office markets characterised by chronically low levels of supply and robust occupational demand.
EXCEPTIONAL TENANT COVENANT
TSB Bank Plc is one of the UK’s best known retail banks with over 5 million customers and an investment grade covenant strength.
ASSET MANAGEMENT OPPORTUNITIES
The tenant recently sub-let space and is marketing part of the building, to let. There is an opportunity to engage with the tenant to discuss either full or partial lease surrenders and/or agree direct leases with future subtenants to crystallise rental growth.
STRONG RESIDUAL VALUE
The investment is heavily underpinned by vacant possession value, with recent VP offices sales in Edinburgh city centre achieving sales rates of between £260 - £360 per sq ft.
Contact adviseurs
Henry Duncan House - Edinburgh (0 Eigendommen)
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Laatst bijgewerkt
11 sep 2025
