Evans Randall Investors has put the freehold of 20-25 and 26-28 Glasshouse Yard in Farringdon on the market.
Glasshouse Yard currently houses Amazon’s Audible UK headquarters in addition to other Amazon businesses, and the company accounts for 87% of the site’s passing rent.
The buildings provides 55,000 sq ft of Grade A office space over four and eight storeys and in addition to the opportunity for reversionary income the site also offers significant redevelopment potential.
A recent feasibility study suggested the site’s massing could be increased by as much as 35% to deliver 74,000 sq ft of high specification, Grade A office space.
Shaun Simons, founder of Compton, which has been appointed to market the opportunity, said: “Glasshouse Yard’s prime location, connectivity, the quality of its accommodation and a strong and secure tenant covenant represent an attractive proposition for investors, in addition to its significant potential for redevelopment and value uplift. The long-term tenancy of Amazon reflects the continued attraction of Farringdon for occupiers seeking office space in an amenity-rich, well-connected urban location.”
