Europa Capital and Hobart Partners have put 86 Fetter Lane in Farringdon on the market with a guide price of £90m.
The Midtown office building was comprehensively refurbished in 2022 by Orms Architects to provide 104,652 sq ft of office, retail and ancillary accommodation, centred around a large landscaped courtyard.
Fetter Yard is located within a 15-minute walk of seven key London stations and provides access to London Underground, Thameslink, National Rail and Elizabeth Line services.
The building, which has received EPC B and BREEAM Very Good ratings, is multi-let to four tenants from the legal and TMT sectors and is Marriott Hotels’ long-term EMEA HQ.
The property provides secure income of around 10 years WAULT to lease expiries and six years to lease breaks and is held on long leasehold with 114 years remaining at a peppercorn ground rent. The guide price of £90m reflects an net initial yield of 6.5% and capital value of £860/sq ft.
Basil Walpole, director in the Central London investment team at Savills, which has been appointed to market the opportunity, said: “Fetter Yard has been transformed through a comprehensive refurbishment and the quality of the offering, coupled with its strategic location, has attracted a diverse mix of tenants. Providing circa 10 years WAULT to expiry and at a low rent of £57/sq ft overall, Fetter Yard offers a combination of secure income and significant upside potential in one of London’s most dynamic sub-markets.”
