Schroders has put 4 Chiswell Street, EC1, up for sale with BNP Paribas Real Estate and JLL for in excess of £37m.
Located on the boundary between the City core and Old Street, the building provides 39,129 sq ft of space arranged over nine floors with a terrace on the fifth floor.
The price reflects a net initial yield of 4.61% and a capital value of £970 per sq ft.
It is let to seven tenants at a current passing rent of more than £1.8m per year, equating to an average a rent of £47.80 per sq ft, with an average weighted unexpired lease term of 5.2 years to expiry and 2.6 years to earliest determination.
The tenants include engineering consultancy Norman Disney & Young, property consultancy Anstey Horne & Co, the UK arm of India’s Axis Bank, and Standard Life financial planning arm 1825 (formerly Baigrie Davies & Company).
Originally built in 1991, the building has recently undergone a refurbishment and is WiredScored certified, with 36 cycle spaces, shower and drying room facilities.
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