United Kingdom, Greater London, Mayfair
Prime Mayfair Freehold Office Building, London, W1
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about the property
- Rare prime Mayfair Freehold opportunity.
- Dover Street is one of Mayfair’s most vibrant streets boasting world class retail, top quality restaurants, 5-star hotels, Grade A offices and luxury residential.
- Attractive recently modernised and upgraded Grade II listed period office building.
- 5,904 sq ft (548.51 sqm) NIA arranged over lower ground, ground and five upper floors.
- Multi-let producing a total rental income of £412,050 per annum.
- Low average passing rent of £69.79 per sq ft.
- Recent letting in the building at £120 per sq ft.
- Opportunity to increase rent roll through well timed lease events.
- Potential to part owner occupy with medium term opportunity to occupy the whole as an HQ office building.
- Offers in excess of £13,900,000.
- NIY – 2.78% (assuming purchaser’s costs of 6.8%).
- Reversionary Yield – 3.30%.
- Capital Value - £2,354 psf.