Spitalfields educational block up for grabs

A Spitalfields block let to an education company helping foreign students study in London has hit the market. Savills is marketing the virtual freehold of 100 Middlesex Street, E1, asking for offers of more than £33.3m. At that asking price, a deal would reflect a net initial yield of 7% and a capital value of £525 per sq ft. The premises comprise 63,451 sq ft of educational and leisure space and ancillary accommodation across six storeys. The educational space is let to Into London, which runs courses for foreign students, and there are Pizza Union and Acer restaurants in the building. The passing rent is £2.49m a year. The site has a WAULT of 5.5 years to breaks and 6.4 years to expiries. Explore the Spitalfields market >>