The long leasehold of the Vintners Place office block in the City of London has been put up for sale with a guide price of £140m.
Savills and Knight Frank have been appointed to market the 274,175 sq ft riverside block, which comprises two contiguous buildings – Vintners Place and Thames House – and if sold at the asking price would deliver a net initial yield of 9.78%.
The onsite amenity provision includes a private gym, 20m swimming pool, a private terrace and coffee shop.
The property has been subject to a rolling programme of upgrades and a comprehensive sustainability programme is nearing completion.
Approximately 60% of the floorspace is currently let to 11 tenants, with a total topped-up passing rent of £14,935,621 reflecting a highly reversionary £56.59/sq ft.
