8
MINORIES THE COLLECTION
MINORIEST H E
C O L L E C T I O N
THE MINORIES COLLECTION30 MINORIES & WRITERS HOUSE
Investment summary
• Freehold 0.68 acre site in the heart of Aldgate, London’s thriving creative district
• 98,998 sq ft of office, retail and ancillary accommodation across two buildings
• 30 Minories comprises a mixed use building of 90,119 sq ft (8,372.5 sq m) arranged over basement, ground and twelve upper floors
• Writers House is an attractive self-contained office building comprising 8,879 sq ft (824.9 sq m) of newly refurbished warehouse-style accommodation, arranged over lower ground, ground and three upper floors
• Multi-let to a range of sectors at a current passing rent of £3,878,903 per annum reflecting a below market rent of only £39.18 per sq ft overall (inclusive of vendor rent guarantees)
• Weighted average unexpired lease term of 4.91 years (3.52 years to breaks)
• All office leases are outside of the 1954 Act
• Immediate opportunities to add value and improve the running yield via asset management and re-positioning
• Potential medium term block date in 2026 - providing the opportunity to refurbish, add additional massing or redevelop the site
• A recent feasibility study by ORMS suggests that the site could support a new build scheme of circa 220,000 sq ft NIA (subject to planning)
• Offers are sought in excess of £66.5 million, subject to contract, reflecting a net initial yield of 5.73% and a low capital value of £672 per sq ft (assuming purchaser’s costs of 1.80%)
A REVERSIONARY ASSET MANAGEMENT OPPORTUNITY IN THE HEART OF ALDGATE
20 FENCHURCHSTREET
TOWER OF LONDON
TOWER HILLSTATION
10 TRINITY SQUARE
TOWER GATEWAY DLR
FENCHURCHSTREET STATION
30 ST MARY AXE ALDGATE STATION
ALDGATE PUBLIC REALM
THELEADENHALL
BUILDINGDEVONSHIRE
SQUARE
LIVERPOOLSTREET STATION
THE MINORIES COLLECTION:A LARGE MIXED-USE FREEHOLD SITE OF 0.68 ACRES, COMPRISING TWO SEPARATE BUILDINGS AND A LARGE OPEN CAR PARK
A mixed use block of c.90,000 sq ft
A standalone, newly refurbished office building of c.9,000 sq ft
30 MINORIES WRITERS HOUSE
Important NoticeCushman & Wakefield gives notice to anyone who may read these particulars as follows:1. These particulars are prepared for the guidance only of prospective purchasers. They are intended to give a fair overall description of the property but are not intended to constitute part of an offer or contract. 2. Any information contained herein (whether in the text, plans or photographs) is given in good faith but should not be relied upon as being a statement or representation of fact. 3. Nothing in these particulars shall be deemed to be a statement that the property is in good condition or otherwise nor that any services or facilities are in good working order. 4 The photographs appearing in this brochure show only certain parts and aspects of the property at the time when the photographs were taken. Certain aspects may have changed since the photographs were taken and it should not be assumed that the property remains precisely as displayed in the photographs. Furthermore no assumptions should be made in respect of parts of the property which are not shown in the photographs. 5. Any areas, measurements or distances referred to herein are approximate only. 6. Where there is reference in these particulars to the fact that alterations have been carried out or that a particular use is made of any part of the property this is not intended to be a statement that any necessary planning, building regulations or other consents have been ob-tained and these matters must be verified by any intending purchaser. 7. Descriptions of a property are inevitably subjective and the descriptions contained herein are used in good faith as an opinion and not by way of statement of fact. Subject to Contract. Designed and produced by TLGD.co.uk. May 2019.
If you would like the opportunity to inspect the property, or if you require any further information, then please contact:
Sean Howes
+44 (0)20 3296 [email protected]
FURTHER INFORMATION
David Hookey
+44 (0)20 3296 [email protected]
Thomas Miller
+44 (0)20 3296 [email protected]
