Metro Building, Hammersmith, W6
£20,000,000
(Offers Over)
Property Summary
- Freehold.
- Prominent location in the heart of Hammersmith, opposite Hammersmith Broadway.
- Significant 0.96 acre/ 0.38 hectare site providing low site coverage of 32%.
- Excellent transport infrastructure.
- The building comprises office accommodation of 105,237 sq ft NIA arranged over ground and 10 upper floors.
- Flexible floor plate of c.11,500 sq ft split between two wings, accessed via a main central core.
- Multi-let to 5 tenants over 8 floors (63,250 sq ft).
- Annual contracted income of £2,627,106 per annum, reflecting a low £25.07 psf.
- Short WAULT of 6 years to expiry and 1.30 years to breaks on contracted income. Facilitating immediate refurbishment.
- Current planning policy is supportive of increased density and mixed use on site.
- Feasibility studies have been actioned identifying the potential to substantially increase massing up to 362,000 sq ft for office and mixed use schemes.
- We are instructed to seek offers in excess of £20,000,000 for the freehold interest, subject to contract and exclusive of VAT. This reflects a capital value per sq ft of £190 and a NIY of 12.30% assuming purchasers costs of 6.80%.
