Our Knowledge Centre combines a unique set of useful tools to assist ALL office movers. Use our moving guides, office space calculator, dynamic rental map and other tools to get an idea of what type of office your company needs. We’ll make sure you get there.
Register for FREE now and get full access.
11-12 St James’s Square is the third property on the square to be sold to a Hong Kong-based investor this year, indicating that interest from foreign investors in the UK’s commercial property market hasn’t dwindled, despite concerns over Brexit and global economies.
Chinese Estates paid £175m to the Employees’ Provident Fund in Malaysia for the 80,000 sq ft office building, representing a yield of 4.45%.
The building is currently multi-let to several tenants, such as Orangefield Group, who is paying a net effective rent of £75per sq ft; Smith Industries, who is paying a net effective rent of £79.50 per sq ft; and Blackstone Property Management, who is paying a net effective rent of £53 per sq ft.
Current available space in the building totals circa 20,500s sq ft, with rents ranging from £79.50 per sq ft to £125 per sq ft.
Eugene O’Sullivan, Surveyor and Director at Morgan Pryce, says; “Chinese investors clearly see future growth and continued strength in the UK commercial market. Our legal system is appealing, as are the long-term returns achievable from our prime assets.”
This news was brought to you by Morgan Pryce, a specialist tenant acquisition agent with offices in Oxford Circus and the City. Morgan Pryce specialises in search, negotiation and project management and works exclusively for tenants.