174-178 Kentish Town Rd 11,002 sq ft Office Property London NW5 2AG £4,958,000 (£450.65/sq ft) 7% Net Initial Yield

174–178 Kentish Town Road offers an exceptional opportunity to acquire a secure, government-backed office investment in Camden’s dynamic urban center. The asset comprises a prominent corner, purpose-built office building across lower ground, ground, and two upper floors, benefitting from extensive glazing and a robust specification including suspended ceilings, air conditioning, and passenger lift. Fully let to the Secretary of State for Housing, Communities & Local Government, the property produces an annual passing rent of £370,000, subject to five-yearly open market rent reviews.
The current lease runs until March 2038 with a tenant break option in 2033, providing 11.8 years unexpired and 6.8 years to break, ensuring long-term, stable income with a strong government covenant. This freehold site spans approximately 0.14 acres, and prior approvals for office-to-residential conversions highlight future redevelopment versatility. Offers are invited in excess of £4,958,000, reflecting a 7% net initial yield and £457 per sq ft capital value. Surrounded by Camden’s evolving creative and residential market, the property provides scope for longer-term value-add strategies while delivering immediate income security.