06/10/2021 | Press release | Distributed by Public on 06/10/2021 09:04
The portfolio comprises a total of 86,437 sq ft across four good quality office properties, all with on-site parking. The properties are strategically positioned in well-located town centre locations within Bromley, Wallington, Leatherhead and Staines and offer reversion and redevelopment opportunities.
The portfolio offers a diversified income from 17 different tenants with a total passing rent of c.£1.79 million per annum, equating to an average rent of £19.81 per sq ft. This is a low average passing rent in comparison to surrounding Greater London locations with an immediate reversion potential across the portfolio of 18%.
The properties include:
Mark Porter, Director in the UK Investment team at Savills, says: 'This is a rare opportunity to acquire a collection of four office properties located in key commuting towns in Greater London, with both strong reversionary potential and opportunity to reposition for alternative uses.'