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Threadneedle fashions FCUK HQ exit

Centro-1&2-570Threadneedle has put the Camden headquarters of fashion firms French Connection UK and Hugo Boss up for sale.

Michael Elliott has been appointed to seek offers in excess of £46.5m – a 4% net initial yield – for Centro 1&2, NW1.

The 100,000 sq ft office block generates rental income of £2m pa.

Other tenants include Los Angeles-based shoe designer and retailer Rocket Dog.

Rents equate to around £25 per sq ft, but with lease expiries later this year, rises are expected.

Grade-A rents in the area are now typically £60 per sq ft.

chris.berkin@estatesgazette.com

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