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One America Square 1 America Sq 231,186 sq ft 70% Let 4-Star Office Property London EC3N 2LS £65,000,000 (£281.16/sq ft) 8.28% Net Initial Yield
Investment Highlights
- Exceptional transport links including Fenchurch Street Station
- Feasibility supports hotel, PBSA, or co-living conversion
Executive Summary
One America Square presents a rare opportunity to acquire a landmark Grade A tower in the heart of London’s EC3 district. Originally constructed in 1991 and designed by RHWL Architects, this 231,186 sq ft mixed-use building spans 14 floors and sits prominently on a 1.2-acre site with dual frontage onto Crosswall and America Square. The asset is currently multi-let to a diverse mix of office, leisure, and conference tenants, generating a contracted rent of £5.75M per annum, with a WAULT of 2.8 years to expiry and 1.6 years to earliest break
The building offers significant repositioning potential, with feasibility studies by tp bennett and DP9 supporting conversion options to hotel, PBSA, or co-living, subject to consents. The existing structure allows for an estimated 44,579 sq ft of additional NIA through rationalisation of plant and parking areas. A back-to-frame refurbishment could elevate the building to best-in-class status, complemented by landscaped roof terraces, upgraded end-of-journey facilities, and enhanced arrival experiences.
Strategically located just 25 metres from Fenchurch Street Station and within a 10-minute walk of six major transport hubs, the property benefits from exceptional connectivity across London and the national rail network. The surrounding EC3 area is a dynamic blend of financial institutions, hospitality, education, and residential developments, anchored by Lloyd’s of London and adjacent to iconic landmarks such as Tower Bridge and the Tower of London.
With a low capital value of £281 per sq ft and a net initial yield of 8.28%, One America Square offers compelling value in a supply-constrained market. The property is held long leasehold from Network Rail until 2241, with minimal ground rent obligations. This is a prime opportunity to invest in a decarbonisation-ready asset with short-term income and long-term upside.
The building offers significant repositioning potential, with feasibility studies by tp bennett and DP9 supporting conversion options to hotel, PBSA, or co-living, subject to consents. The existing structure allows for an estimated 44,579 sq ft of additional NIA through rationalisation of plant and parking areas. A back-to-frame refurbishment could elevate the building to best-in-class status, complemented by landscaped roof terraces, upgraded end-of-journey facilities, and enhanced arrival experiences.
Strategically located just 25 metres from Fenchurch Street Station and within a 10-minute walk of six major transport hubs, the property benefits from exceptional connectivity across London and the national rail network. The surrounding EC3 area is a dynamic blend of financial institutions, hospitality, education, and residential developments, anchored by Lloyd’s of London and adjacent to iconic landmarks such as Tower Bridge and the Tower of London.
With a low capital value of £281 per sq ft and a net initial yield of 8.28%, One America Square offers compelling value in a supply-constrained market. The property is held long leasehold from Network Rail until 2241, with minimal ground rent obligations. This is a prime opportunity to invest in a decarbonisation-ready asset with short-term income and long-term upside.
Property Facts Sale Pending
Sale Type
Investment
Property Type
Office
Tenure
Long Leasehold
Property Subtype
Office / Residential
Property Size
231,186 sq ft
Costar Property Class
A
LoopNet Rating
4 Star
Year Built/Renovated
1991/2007
Price
£65,000,000
Price per sq ft
£281.16
Yield
8.28%
NOI
£5,382,000
Occupancy Rate
70%
Tenancy
Multiple
Number of Floors
15
Typical Floor Size
15,352 sq ft
Floor To Floor Height
10 ft
Plot ratio
4.39
Total Plot Size
1.21 ac
Parking
21 Spaces (0.09 Spaces per 1,000 sq ft Leased)
Amenities
- 24 Hour Access
- Bus Route
- Controlled Access
- Conferencing Facility
- Fitness Centre
- Security System
- Signage
- Accent Lighting
- Bicycle Storage
- Lift Access
- Natural Light
- Reception
- Recessed Lighting
- Shower Facilities
- Air Conditioning
- Raised Floor System
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Contacts
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Anton
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Photos
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One America Square | 1 America Sq
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