8-14 Macklin St | London WC2B 5NF
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8-14 Macklin St
London WC2B 5NF
Office Property For Sale
Investment Highlights
- Located in the heart of Covent Garden, one of the West End’s core office markets
- Multi let with a low overall passing rent of sub-£60 psf
- Potential to refurbish Models One space and establish a new rental tone in Jan 2026
- Characterful building reflective of the rich history of Covent Garden.
- Significant fit-out expenditure by main tenant suggests their long term commitment and potential to negotiate-out 2027 break clause.
- Attractive quoting price reflects a 6% NIY, £932 psf
Executive Summary
Offers are invited in excess of £18.25 million subject to contract for the asset, representing an initial yield of 6.00% and a capital value of £932 psf, assuming purchaser’s costs of 6.8%.
The offices at Market Exchange are currently leased to three tenants with the 2nd floor (West) on the market and subject to a guarantee. The total initial income from the building is therefore £1,170,863.50 pa including £3,200 pa from the 8 apartments.
The offices at Market Exchange are currently leased to three tenants with the 2nd floor (West) on the market and subject to a guarantee. The total initial income from the building is therefore £1,170,863.50 pa including £3,200 pa from the 8 apartments.
PROPERTY FACTS
Sale Type
Investment
Property Type
Office
Tenure
Freehold
Building Size
33,000 SF
Building Class
B
Year Built/Renovated
1983/2021
Price
£18,250,000
Price Per SF
£553
Net Initial Yield
6%
NOI
£1,095,000
Percent Leased
90%
Tenancy
Multiple
Number of Floors
4
Typical Floor Size
6,357 SF
Building FAR
0.70
Lot Size
1.09 AC
Amenities
- 24 Hour Access
- Raised Floor
- Security System
- Accent Lighting
- Storage Space
- Air Conditioning
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