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Regional Properties has instructed Allsop to put Shoreditch office building The Epworth on the market. The prestigious site, which is located on City Road, will be priced at £78 million – a net initial yield of 4.8%.
Having recently been extensively redeveloped, The Epworth is a stunning Art Deco building dating back to the 1930s comprising nearly 63,000 sq ft across eight floors. Fully pre-let to Japanese company NTT Data Consulting, IT Solutions and flexible office provider Spaces before the refurbishment had been completed, the space currently generates a total rent of £3.9 million a year.
James Abrahams, partner at Allsop, states: “The Epworth is a fantastic example of how thoughtful modifications can breathe new life into buildings, ensuring that they provide all the high-quality amenities modern occupiers require and are future-proofed for many years to come… Being successfully pre-let prior to completion is testament to the building quality and location.”
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.