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Macaulay Walk, Clapham, London SW4

OFFICE INVESTMENT SECURED TO HANDELSBANKEN PLC
For sale
  • Highly secure office investment in the heart of Clapham Old Town.
  • Situated within a highly attractive modern mixed-use development opposite Clapham Common.
  • A self-contained high specification ground floor office comprising 1,995 sq ft (NIA) fronting a landscaped courtyard.
  • Long Leasehold at a peppercorn (118 years unexpired).
  • Let to Handelsbanken Plc – Shareholders Funds of £2.27 billion with a Fitch Rating of AA.
  • Providing an income of £61,000 per annum (£30.57 per sq ft).
  • Recently agreed rent review resulting in a c.10% rental increase.
  • The tenant has just extended the lease expiry to 17 July 2029 (8.5 years unexpired term certain).
  • There will be an upward only rent review on 18 July 2024 to OMRV.
  • No incentive has been agreed as part of the lease extension.
  • We are instructed to seek offers in excess of £1,150,000 (One million, one hundred and fifty thousand pounds), subject to contract.
  • This reflects a Net Initial Yield of 5.0% and a Capital Value of £576 per sq ft based on purchasers’ costs of 5.88%.
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