A portfolio of six Vodafone Enterprise data centre and office freeholds in central London has been put up for sale for £100m.
Savills is seeking buyers for the Network Portfolio, which totals 260,000 sq ft, according to marketing materials seen by EG.
The price tag reflects a 5.71% blended net initial yield and a capital value of £385 per sq ft, assuming purchaser costs.
The properties include:
- Addison House, Chart Street, Old Street, N1
- Wakefield House, Chart Street, Old Street, N1
- 24-40 Dock Street, Wapping, E1
- Mobility House, Croft Street, SE8
- Smale and Solaglass House, Great Suffolk Street, SE1
- 21 Miles Street, Vauxhall, SW8
The properties are let to Vodafone Enterprise UK on leases expiring in April 2032. They generate total passing rent of £6.1m per annum, equivalent to a passing rent of £23.50 per sq ft. The leases will be up for RPI-linked rent reviews in 2027.
The data centres are a fundamental part of the infrastructure for Vodafone’s Core and Edge networks, providing connectivity for their corporate and institutional contracts.
The sites are being marketed with scope for medium to long-term redevelopment potential across uses including student and residential, as well as more offices and data centres.
Savills and Vodafone have not responded to requests for comment.
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