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Greyfriars Studios 25 The Quadrant 18,957 sq ft 100% Let 4-Star Office Property Richmond TW9 1DL £13,000,000 (£685.76/sq ft) 7.55% Net Initial Yield
INVESTMENT HIGHLIGHTS
- In the heart of Richmond, the affluent South West London Suburb
- Grade A office accommodation
- Outstanding retail and leisure amenity offering in the immediate area
EXECUTIVE SUMMARY
Greyfriars Studios is an 18,957 sq ft office-led, mixed use building located in the heart of Richmond, the affluent South West London Suburb. Richmond provides one of the UK's most established and affluent commercial centres outside Central London and is home to a thriving business community. The office accommodation was completely refurbished and extended, with practical completion in September 2021, at a total cost of £5.75m (£305 psf) - including new M&E and entire new 4th floor.
The building is situated directly opposite Richmond Underground and Railstation, providing high connectivity to Central London with access via the District Line, Overground line and trains to London Waterloo (18 minutes). The building is fully let and comprises four ground floor retail units and four floors of Grade A office accommodation spread over 14,654 sq ft. Greyfriars Studios is fully-let to 3 office tenants (75% of income) & 4 retail tenants (25% of income). There is a limited supply of high quality office accommodation in the area, with the floor plates and location of Greyfriars Studios providing strong re-lettability potential.
The passing rent of £1,009,285 per annum (£53.24 per square foot).
Attractive WAULT to Expiry of 6.0 years (WAULT to Break of 4.5 years).
Outstanding retail and leisure amenity offering in the immediate area.
The building is situated directly opposite Richmond Underground and Railstation, providing high connectivity to Central London with access via the District Line, Overground line and trains to London Waterloo (18 minutes). The building is fully let and comprises four ground floor retail units and four floors of Grade A office accommodation spread over 14,654 sq ft. Greyfriars Studios is fully-let to 3 office tenants (75% of income) & 4 retail tenants (25% of income). There is a limited supply of high quality office accommodation in the area, with the floor plates and location of Greyfriars Studios providing strong re-lettability potential.
The passing rent of £1,009,285 per annum (£53.24 per square foot).
Attractive WAULT to Expiry of 6.0 years (WAULT to Break of 4.5 years).
Outstanding retail and leisure amenity offering in the immediate area.
PROPERTY FACTS
Sale Type
Investment
Property Type
Office
Tenure
Freehold
Property Size
18,957 sq ft
Costar Property Class
B
LoopNet Rating
4 Star
Year Built/Renovated
1965/2008
Price
£13,000,000
Price per sq ft
£685.76
Yield
7.55%
NOI
£981,825
Occupancy Rate
100%
Tenancy
Multiple
Number of Floors
5
Typical Floor Size
3,791 sq ft
Plot ratio
3.63
Total Plot Size
0.12 ac
AMENITIES
- 24 Hour Access
- Bus Route
- Commuter Rail
- Security System
- Signage
- EPC - B
- EPC - C
- Reception
- Storage Space
- High Ceilings
- Open-Plan
- Air Conditioning
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Greyfriars Studios | 25 The Quadrant
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