L&R seeks £214m for 10 Bloomsbury Way
The Livingstone brothers’ London & Regional Properties has instructed agents to sell 10 Bloomsbury Way, WC1, for £214.7m.
Savills has been hired to market the fully let 165,000 sq ft office building. A sale at the asking price would reflect a yield of 4.3%.
The Livingstone brothers’ London & Regional Properties has instructed agents to sell 10 Bloomsbury Way, WC1, for £214.7m.
Savills has been hired to market the fully let 165,000 sq ft office building. A sale at the asking price would reflect a yield of 4.3%.
Situated close to Tottenham Court Road Tube station, where Crossrail will be operational from next year, it is let to seven tenants, including digital advertising firm Criteo and serviced office provider The Office Group.
Having been redeveloped in 2015, it has an unexpired lease length of 9.7 years.
The Buckley Gray Yeoman-designed block includes four retail units totalling 9,606 sq ft which front on to New Oxford Street and Bloomsbury Way.
The Livingstones are looking to take advantage of the strong market for fully let central London assets.
The building is held on a long lease from the Crown Estate with 108.5 years unexpired.
Simultaneously, the Crown is selling the freehold for offers in the region of £20m through CBRE.
The deals are not expected to be carried out by the same buyer, although there is potential for marriage value.
Edward Charles & Partners and Savills advised London & Regional on letting offices in the block.
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