Castleforge Partners has instructed agents to sell the mixed-use Docklands parade Harbour Island, E14.
Cortex Partners is seeking offers in excess of £36.1m – a net initial yield of 5.1% – for the 69,029 sq ft of shops, offices and restaurants.
The property is fully let and has a weighted average unexpired lease term of 7.3 years to breaks and 10.1 years to expiry.
Tenants include Chesterton Global, Co-op, Pret A Manger and Royal Docks Property Services.
Total passing rent is £2m per annum, with an average rent of £27.24 per sq ft for the offices and £29.98 per sq ft for the retail.
Castleforge (formerly Mercer Real Estate) acquired the scheme from Blackstone in 2015 for £26m – a net initial yield of 6%.
To send feedback, e-mail Louisa.Clarence-Smith@egi.co.uk or tweet @LouisaClarence or @estatesgazette
