The Prince’s Trust has appointed agents to sell its City of London headquarters, which has the potential for redevelopment.
The youth charity, founded by Prince Charles in 1976, bought the building from British Land for £17m in 2013.
CBRE has been instructed to seek bids in excess of £20m for 9 Eldon Street, EC2, a near 18% premium on the Trust’s purchase price.
The charity will seek a three-year leaseback on the property as part of the deal.
In the medium term the 24,000 sq ft building, which is close to the Broadgate Estate, could be refurbished and extended. A wholesale redevelopment is also possible, but the neighbouring St Mary Moorfields Church on Eldon Street would limit the potential to add significant height or density to the site.
The Trust originally leased the building in 2012 in a move away from its Regent’s Park, NW1, base but bought in the freehold the following year.
The sale and leaseback will allow it to realise capital value growth in the City market in the intervening period.
