£50mil London Office Bldg Being Marketed In Singapore
UNITED KINGDOM – 27 Soho Square, a 7-storey freehold office property in London has been launched for sale with an indicative price of £50 million (S$82 million). And the commercial property is being marketed in Singapore by Edmund Tie due to a tie-up with appointed marketing agent Harris Associates, reported The Edge on Friday noon (17 March, SGT).
“We are pleased to present this rare opportunity to investors to acquire 27 Soho Square, a prime Central London freehold office scheme with significant rental uplift and development potential,” commented Jonathan Harris, a Partner at London-based property agency Harris Associates.
Located in Soho within London’s West End, the office asset has an existing net lettable area (NLA) of around 30,990 sq ft. But the property has secured planning consent to add roof terraces and additional floors, creating an additional internal area of about 4,500 sq ft in gross area.
The planning consent also enables the new owner to convert 9,200 sq ft of space on the ground and basement levels into a destination restaurant, Edmund Tie revealed.
Completed in 1985, 27 Soho Square has been upgraded in the past 5 years. Its elevators had been replaced, and a new all-electric central plant was installed that comes with an air handling unit and an air source heat pump system.
The freehold London office building is merely a stroll from Tottenham Court Road Station, which is served by the Central Line, the Northern Line, and the new Elizabeth Line. The commercial property is also within proximity to the bustling Oxford Street.
Edmund Tie’s Head of investment advisory Swee Shou Fern thinks that 27 Soho Square would attract many investors thanks to the asset’s prime location, excellent connectivity, and surrounding amenities.
“With office workers returning to the workplace, it is timely now for investors looking to expand their office portfolio to the UK,” she added.