The UK HQ of social-networking giant Facebook has been put up for sale.
Its Irish owner, Davy Draco Property Partners, has instructed Savills and niche agent John Miles to seek buyers for the 61,500 sq ft block in Seven Dials, WC2.
It is quoting £65m – a 5.23% yield – on the Seven Dials Warehouse.
Mark Zuckerberg’s Facebook occupies 35,000 sq ft in the property, which it is subletting at around £70 per sq ft from online travel agency Expedia until 2018. Other tenants include fashion chain Urban Outfitters and restaurant Belgo.
The block provides a total rent of around £3.6m.
Local agents said that the property was likely to attract a wide range of interest because of the shortage of prime West End stock on the market and the strength of occupiers in the building.
Davy Draco bought the Seven Dials Warehouse for £60m – a 5.6% yield – in 2008 from Schroder Property Investment.
joanna.bourke@estatesgazette.com
