Brockton Capital has put the Centro Building in Camden, NW1, up for sale for £83m.
Savills has been appointed to market the block, which houses the headquarters of Hugo Boss, Piercy & Co, Rocket Dog and French Connection. The guide price would bring in a yield of 5.22%.
The 85,000 sq ft warehouse-style building has undergone significant asset management since Brockton’s purchase.
Brockton Capital regeared Hugo Boss’s lease, which was due to expire this year, to provide a new 12-year lease in exchange for surrendering the top floor, which has been fully refurbished and is under offer to a fintech business.
Brockton also surrendered the whole of the ground floor from French Connection, where Piercy & Co took a prelet on a 10-year term which also provided the opportunity to create a new reception and entrance to the building.
The most recent letting was to F45, an Australian gym operator, on a 15-year lease which will also provide shower and locker facilities for all the occupants in the building.
Centro 1 and 2 is one of several office developments on the market in the wider Camden and King’s Cross area. EG revealed last month that Abu Dhabi’s sovereign wealth fund was preparing a £270m sale of the Regent Quarter next to King’s Cross station, N1, through Cushman & Wakefield and CBRE.
Corbett Northam and Savills have also been instructed to sell the £48m Porters Wharf, N1, which is the 44,107 sq ft UK headquarters of MacMillan publishing and is 50% owned by Derwent and a private UK investor.
Threadneedle still owns Centro 3, 4 and 5, Atelier House and Selous House which sit on a triple-aspect plot bounded by Camden Street, NW1, Mandela Street, NW1, and Pratt Street, NW1, between Mornington Crescent and Camden Town Tube stations.
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