The West End headquarters of entertainment news service Digital Spy has come to market with a £63.5m price tag.
JLL has been appointed to sell National Magazine House at 72 Broadwick Street, W1, on behalf of Universities Superannuation Scheme. The price reflects a 4.4% net initial yield.
The 65,316 sq ft Soho block comprises 54,097 sq ft of offices, and 11 flats let on short leases.
The office space is let to The National Magazine Company, which publishes Digital Spy as well as such magazines as Elle, until September 2018. There is significant scope to increase the current rent of £44 per sq ft as well as opportunities for a refurbishment.
Universities Superannuation Scheme bought the asset for just under £42m in 2010.
