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One King Street 1-15 King St 37,405 sq ft 63% Let Office Property London W6 9HR £13,950,000 (£372.94/sq ft) 9.24% Net Initial Yield
INVESTMENT HIGHLIGHTS
- Modern and refurbished
- Excellent road connectivity
- Prime Zone 2 location
- Stunning views across the city
EXECUTIVE SUMMARY
A landmark mixed-use office and retail asset providing 37,405 sq ft NIA arranged across ground and basement with five upper storeys, offering typical floor plates of approximately 5,000 sq ft.
Multi-let to 12 tenants (4 office and 8 retail), providing a total contracted rent of £1,375,798 per annum, reflecting a very low average office rent of £51.79 per sq ft and approximately £36.78 per sq ft overall.
WAULT of 1.06 years to lease expiry (LEX) and to break.
56% vacancy in the office uppers, providing a route to Vacant Possession (VP) in less than six months.
Modern and refurbished: Built in 2012, extensively refurbished in 2018, including an additional storey and upgraded office accommodation.
Freehold island site. Exceptionally strong retail pitch – opportunity to reposition the asset and enhance retail through redevelopment with a clear route to VP.
Zone A rent of £170 per sq ft is a benchmark rent reflective of the prime pitch.
Excellent optionality for alternative uses with high underlying demand for Residential, Co-living, Purpose Built Student Accommodation (PBSA) or Hotel.
The vendor is currently progressing a pre-application with Hammersmith and Fulham Borough Council, who are open to discussion for redevelopment into alternative uses subject to a full planning application.
The building’s narrow floor plates support reconfiguration to residential, or the 0.325 acre island site could be redeveloped entirely, offering a superb massing opportunity of up to 30% in the heart of Hammersmith.
PROPERTY FACTS
AMENITIES
- Raised Floor
- Security System
- Accent Lighting
- Lift Access
- Natural Light
- Air Conditioning
SPACE AVAILABILITY
- SPACE
- SIZE
- USE
- CONDITION
- AVAILABLE
This unit benefits from VRF air-conditioning and excellent natural light. The office provides an opportunity to find an office to rent in Hammersmith.
This unit benefits from VRF air-conditioning and excellent natural light. The office provides an opportunity to find an office to rent in Hammersmith.
This unit benefits from VRF air-conditioning and excellent natural light. The office provides an opportunity to find an office to rent in Hammersmith.
| Space | Size | Space Use | Condition | Available |
| 1st Floor | 5,764 sq ft | Office | Full Fit-Out | Now |
| 2nd Floor | 5,712 sq ft | Office | Full Fit-Out | Now |
| 3rd Fl-Ste A | 2,297 sq ft | Office | Full Fit-Out | Now |
1st Floor
| Size |
| 5,764 sq ft |
| Space Use |
| Office |
| Condition |
| Full Fit-Out |
| Available |
| Now |
2nd Floor
| Size |
| 5,712 sq ft |
| Space Use |
| Office |
| Condition |
| Full Fit-Out |
| Available |
| Now |
3rd Fl-Ste A
| Size |
| 2,297 sq ft |
| Space Use |
| Office |
| Condition |
| Full Fit-Out |
| Available |
| Now |
1st Floor
| Size | 5,764 sq ft |
| Space Use | Office |
| Condition | Full Fit-Out |
| Available | Now |
This unit benefits from VRF air-conditioning and excellent natural light. The office provides an opportunity to find an office to rent in Hammersmith.
2nd Floor
| Size | 5,712 sq ft |
| Space Use | Office |
| Condition | Full Fit-Out |
| Available | Now |
This unit benefits from VRF air-conditioning and excellent natural light. The office provides an opportunity to find an office to rent in Hammersmith.
3rd Fl-Ste A
| Size | 2,297 sq ft |
| Space Use | Office |
| Condition | Full Fit-Out |
| Available | Now |
This unit benefits from VRF air-conditioning and excellent natural light. The office provides an opportunity to find an office to rent in Hammersmith.
CONTACTS
-
James Leach -
Ed Gamble -
Sarah Humes -
Ollie Holland
-
ACRE Capital Real Estate LLP
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One King Street | 1-15 King St
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