23 Kingsway | London WC2B 6UJ
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23 Kingsway
London WC2B 6UJ
York House · Office Property For Sale
Investment Highlights
- Freehold
- Excellent connectivity located within a short walk of Underground train services at Holborn, Covent Garden and Temple;
- Behind the attractive period façade, York House provides 51,483 sq ft (4,782.9 sq m) of office, leisure and ancillary accommodation
- Prime Midtown location where Covent Garden meets Holborn, two of London’s most vibrant sub-markets
- The building has been subject to a high-quality rolling refurbishment, including enhanced tenant amenity and a newly refurbished reception
- The office is securely let to seven office and one leisure occupier with a WAULT of 5.88 years and 4.25 years to break options (on let accommodation)
Executive Summary
Freehold interest in York House, 23 Kingsway, WC2, a Prime Midtown Investment Opportunity.
Offers are invited in excess of £42,500,000 for the freehold interest, subject to contract and exclusive of VAT, reflecting an attractive net initial yield of 6.69% and a low capital value of £825per sq ft (assuming purchaser’s costs of 6.80%).
Offers are invited in excess of £42,500,000 for the freehold interest, subject to contract and exclusive of VAT, reflecting an attractive net initial yield of 6.69% and a low capital value of £825per sq ft (assuming purchaser’s costs of 6.80%).
PROPERTY FACTS
Sale Type
Investment
Property Type
Office
Tenure
Freehold
Building Size
50,080 SF
Building Class
B
LoopNet Rating
4 Star
Year Built/Renovated
1900/2014
Price
£42,500,000
Price Per SF
£849
Net Initial Yield
6.69%
NOI
£2,843,250
Percent Leased
100%
Tenancy
Multiple
Number of Floors
10
Typical Floor Size
6,000 SF
Building FAR
5.75
Land Acres
0.20 AC
Amenities
- Raised Floor
- Security System
- Accent Lighting
- EPC - D
- Storage Space
- Air Conditioning
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