Savills Investment Management is selling the freehold interest in a prime Victoria office block.
The firm has appointed Savills to market 129 Wilton Road, SW1, and will seek offers in excess of £75.3m.
The circa 70,000 sq ft property is next to Victoria Station, which is undergoing a £700m redevelopment.
The Wilton Road building comprises eight floors and is fully let to three tenants generating £3.8m pa – a 5% yield.
Premier Oil E&P occupies the sixth and eighth floors and pays £70 per sq ft on a lease expiring in 2018. It also occupies the fourth and fifth floors, paying £52 per sq ft.
IQPC and Worldwide Business Research both pay in the region of £56 per sq ft.
Pret a Manger and fitness company Frame occupy the ground-floor units.
Interest is expected from investors seeking to capitalise on the surge in Victoria rents, which have peaked at £85 per sq ft – achieved at Land Securities’ Nova scheme.
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