German investor Real IS is bringing a government-let building in Bloomsbury to market. DTZ has been instructed to ready 79,400 sq ft 21 Bloomsbury Street, WC1, for sale. Offers in excess of £70m – a 4.75% yield – are expected for the office block, which is let to bodies including the Horserace Betting Levy Board and Sport England. Current rental income is £3.3m pa. Leases at the property expire in 2022. Real IS bought the building in 2010 for around £53m, reflecting a 5.9% yield.
German investor Real IS is bringing a government-let building in Bloomsbury to market. DTZ has been instructed to ready 79,400 sq ft 21 Bloomsbury Street, WC1, for sale. Offers in excess of £70m – a 4.75% yield – are expected for the office block, which is let to bodies including the Horserace Betting Levy Board and Sport England. Current rental income is £3.3m pa. Leases at the property expire in 2022. Real IS bought the building in 2010 for around £53m, reflecting a 5.9% yield.
joanna.bourke@estatesgazette.com
