Union Building, 78 Cornhill
78 Cornhill, London, London EC3V 3QQ United Kingdom
OVERVIEW
Union Building is situated on the north side of Cornhill, occupying a prominent corner position at the junction with Finch Lane.
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Key Features
- Rare Corner Freehold, last traded in 1978.
- Prime City of London location, 100m from the Bank of England and situated on one of the most prestigious streets in the City.
- First-class transport connectivity, with seven key stations within a 7-minute walk.
- 16,888 sq ft (1,568.9 sq m) of office and ancillary accommodation arranged over basement, lower ground, ground and seven upper floors.
- The vendor has recently spent circa £4.30 million to comprehensively upgrade the asset, including a remodelled reception, new end of trip facilities and on-floor Cat A/B refurbishment works.
- EPC B and BREEAM Very Good ratings achieved on circa 75% of the office accommodation.
- The building is multi-let to eight office tenants, producing a topped-up passing rent of £1,030,836.70 per annum, reflecting a low average rent of £61.04 per sq ft overall.
- Secure income reflecting a weighted average unexpired term of 4.1 years to expiries (2.1 years to breaks) on the let space.
- Short and medium-term asset management potential to let the vacant fifth floor as well as
- refurbishment of the fourth and sixth floors upon lease expiries.
Details
- Building Size:
- 16,888 SF
- Sale Price:
- £15,450,000 GBP
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AVAILABILITIES
LOCATION
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