Asking Price
NOI Net Operating Income
Cap Rate
Asking Price
NOI Net Operating Income
Cap Rate

Documents

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Key Facts

Property Reference Number 100023610046
Tenure Type Leasehold
Building Area

Property Description

Trophy office investment in St James's, one of London’s most desirable sub markets.

Investment Highlights

  • 123 Pall Mall is located moments from St James’s Square, London’s most prestigious office address
  • Benefiting from world renowned retailers, restaurants, private members clubs and hotels in close proximity
  • Excellent transport links with Green Park and Piccadilly Circus Underground stations nearby, and Charing Cross and Victoria mainline stations only a short walk away
  • Two of the Royal Parks, Green Park and St James’s Park, are less than 5 minutes’ walking distance
  • The highly specified Grade II Listed building was comprehensively refurbished in 2018 providing 21,101 sq ft (1,960.4 sq m) of Grade A offices over lower ground, ground, mezzanine and five upper floors
  • Generous floor to ceiling heights of up to 3.2m
  • The property is held long leasehold for a term of 127 years from 29th September 1987 (94.3 years unexpired) at a passing head rent of £112,844 per annum
  • Multi-let to a diverse range of tenants providing a strong covenant mix and attractive WAULT of 6.26 years to expiries and 3.16 years to breaks
  • We are instructed to seek offers for the long leasehold interest in excess of £22,750,000 (Twenty Two Million Seven Hundred and Fifty Thousand Pounds), subject to contract, reflecting a net initial yield of 5.00% and capital value of £1,078 per sq ft, assuming 6.80% purchaser’s costs
Last Updated Date: 31 Jul 2020
Rob Corbett
Rob Corbett
Head of West End Capital Markets
Guy Harris
Guy Harris
Director - West End Investment

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Last Updated Date: 31 Jul 2020

The value of trust beneficiary rights fluctuates due to fluctuations in the price of real estate, and there is a risk of falling beyond the investment principal. Real estate prices are fluctuated by changes in the population of the area in which they are located and the number of newly supplied properties, fluctuations in interest rates and exchange rates, changes of tax system, loss/damage due to natural disasters such as earthquakes, deterioration over time, and the discovery of hidden defects such as soil pollution.

Please go to the below link for our commitment to compliance (Japanese only).

https://www.joneslanglasalle.co.jp/ja/compliance-with-laws-and-regulations-and-its-representation

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