Asking Price
NOI Net Operating Income
Cap Rate
Asking Price
NOI Net Operating Income
Cap Rate

Documents

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Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.

Key facts

Property Reference Number 10024114384
Building Area

Property description

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.  


Investment highlights

  • 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. 


Last Updated Date: 12 Oct 2021
Sam Gibson
Sam Gibson
Director - National Investment
Jessica Loveridge
Jessica Loveridge
Senior Surveyor

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Last Updated Date: 12 Oct 2021

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