Legal & General is selling a prime mixed-use development in Soho, W1.
The company has instructed Allsop to sell the freehold interest in 76-88 Wardour Street, for offers in excess of £89.5m.
The building comprises 33,385 sq ft of grade-A office space and 17,551 sq ft of retail and restaurant accommodation.
Tenants include Wagamama, Thoughtworks, Sheridans, Wahaca and Vapianos and the investment produces a rental income of around £3.34m pa, an average of £69.60 per sq ft.
There is an opportunity to capitalise on a number of lease reviews in 2019. Current Soho grade-A rents stand between £85 to £100 per sq ft.
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