|Property Reference Number||10024114384|
Multi-let office building comprising approximately 28,172 sq ft, arranged over ground and two upper floors, together with a fully glazed double-height reception.
- A rare opportunity to acquire a high-quality office in one of the South East’s most occupationally constrained markets.
- St Albans is an affluent commuter city located approximately 23 miles north-west of Central London, benefiting from unrivalled connectivity to the national motorway and railway networks.
- Churchill House occupies a highly prominent city centre position, approximately 300m from St Peter’s Street and within a 10-minute walk of St Albans City Station.
- EPC ‘B’ rating.
- Multi-let to four tenants providing a WAULT of 3.3 years to lease expiries and 2.7 years to breaks.
- £901,350 per annum / £32.66 per sq ft, reflecting a 15% discount to prime headline rents which have recently achieved £38.50 per sq ft.
- Assignment of Part First Floor (7,750 sq ft) is under-offer – upon completion, 72% of the contracted income will be secured against Spreadex Ltd (5A1 – Dun & Bradstreet).
- Forthcoming lease events and active asset enhancement opportunities to drive rental and investment performance.
- Exceptional city centre car parking ratio of 1:229 sq ft.
- Large freehold site totalling 1.05 acres.
- Potential to increase massing and / or redevelop, subject to securing all necessary planning consents.