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35 Great Smith St 31,850 sq ft 4-Star Office Property London SW1P 3BJ £30,000,000 (£941.92/sq ft) 5.25% Net Initial Yield
Investment Highlights
- Single let to the UK Government, who have occupied the building for over 34 years with the Cabinet Office occupying for over 21 years
- Office building over lower ground, ground and four upper floors totalling 31,850 sq ft NIA
- The tenant has just completed a full refurbishment of the entire building
- Misson critical building for the Cabinet Office due to its proximity to 10 Downing Street, Houses of Parliament and 70 Whitehall
- Virtual Freehold
Executive Summary
35 Great Smith Street is an attractive office building arranged over lower ground, ground, and four upper floors totalling 31,850 sq ft.
Originally constructed in the early 20th Century, the building has classic Victorian elements, including red brick facades, large windows and decorative detailing.
The building was redeveloped behind the retained façade in the 1970’s with a comprehensive refurbishment taking place in 2000. Since signing their reversionary lease, the tenant has undergone a significant refurbishment program which illustrates their continued long term commitment to the building.
Originally constructed in the early 20th Century, the building has classic Victorian elements, including red brick facades, large windows and decorative detailing.
The building was redeveloped behind the retained façade in the 1970’s with a comprehensive refurbishment taking place in 2000. Since signing their reversionary lease, the tenant has undergone a significant refurbishment program which illustrates their continued long term commitment to the building.
Property Facts
Sale Type
Investment
Property Type
Office
Tenure
Freehold
Property Size
31,850 sq ft
Costar Property Class
B
LoopNet Rating
4 Star
Year Built/Renovated
1926/1980
Price
£30,000,000
Price per sq ft
£941.92
Yield
5.25%
NOI
£1,575,000
Tenancy
Single
Number of Floors
6
Typical Floor Size
5,308 sq ft
Plot ratio
2.89
Total Plot Size
0.25 ac
Parking
4 Spaces (0.13 Spaces per 1,000 sq ft Leased)
Amenities
- Security System
- Central Heating
- Common Parts WC Facilities
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35 Great Smith St
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