Federated Hermes has put an office block in the heart of London’s Soho up for sale.
Harris Associates is marketing 27 Soho Square, W1, on behalf of the Federated Hermes Property Unit Trust, with a guide price of more than £50m.
The 30,990 sq ft office was designed by architect Rolfe Judd in the mid-1980s and has recently been refurbished.
Tenants in the six-storey building include Barclays Bank, Muse Developments, fintech venture capitalist Dawn Capital, media agency John Ayling & Associates and data company Genius Sports. The current rent is £2.26m per annum.
Marketing documents for the asset note that an implemented planning consent allows for a change from office use to 21 apartments and restaurant or retail on the ground and lower-ground floors. They added that there is “significant potential” to increase income by leasing the Barclays space as a “destination restaurant”.
Jonathan Harris, partner at Harris Associates, described the sale as “a rare freehold opportunity of this size in an iconic central London neighbourhood”.
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