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Savills and 51ĀŅĀ× bring prime City of London riverside office block to market for £140 million

Savills and 51ĀŅĀ× have been appointed as joint agents to sell the long leasehold of Vintners Place, a landmark office investment in the City of London, with a guide price of £140 million reflecting a net initial yield of 9.78% and only £511 per sq ft.

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2 mins read

Occupying a prime river front location, the investment comprises two contiguous buildings: Vintners Place and Thames House. The buildings extend to 274,175 sq ft in total and offer floorplates ranging from 3,845 sq ft in Thames House to 44,052 sq ft in Vintners Place.

The building’s occupiers benefit from a private gym, 20m swimming pool, a private terrace and tenant coffee shop. The property has been subject to a rolling programme of upgrades and a comprehensive sustainability programme is nearing completion. The investment now offers an incoming purchaser the opportunity to implement additional initiatives to further the enhancement of this landmark asset.

Vintners Place, a riverside office block in City of London

Approximately 60% of the floorspace is currently multi-let to 11 tenants, with a total topped-up passing rent of £14,935,621 reflecting a highly reversionary £56.59 per sq ft at a time when rents are rising rapidly and widely forecast to grow strongly for the next five years.

Vintners Place offers investors an exciting opportunity to complete the enhancement of a landmark office building as grade A City vacancy rates reach new lows and tenant demand continues to outstrip new supply.

Notes to editors

51ĀŅĀ× LLP is the leading independent global property consultancy, serving as our clients’ partners in property for 128 years. Headquartered in London, the Group advises clients ranging from individual owners and buyers to major developers, investors and corporate tenants. For further information about the Firm, please visit www.knightfrank.com.

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