3 America Square, London EC3 

Revisionary multi-let city investment opportunity.

Originally constructed in 1988 and comprehensively refurbished in 1992 to comprise approximately 845 sq m (9,195 sq ft) of office, retail and ancillary accomodation arranged over lower ground, ground and five upper floors.  

Location   Terms   Accommodation   Specification   Contact  

Location

3 America Square is located on a prominent, highly visable corner site on the north-eastern side of America Square.  The building is in close proximity to the main instituations of the insurance industry, namely the LLoyd's Building on Lime Street, The London Underwriting Centre on Mincing Lane and Lloyd's Register of Shipping on Fenchurch Street.

3 America Square benefites from excellent transport links, with nearby underground and mainline stations providing access to the District, Circle and Metropolitan Underground lines, the Docklands Light Railway (DLR) and Mainline Rail Services to the southeast.


Terms

• Feehold
• Multi-let to five tenants, with one floor vacant, thereby providing excellent asset management opportunities
• Current annual rent roll of £253,829 per annum equates to only £28.69 per sq ft overall on the occupied office accomodation.  Vendor to provide a 12-month rent and service charge guarentee over the vacant 5th floor.
• 24% of the income let to Pret A Manger until 2007 rent review.
• Rents well positioned to benefit from the current and expected rental growth in the City office market.
• Offers in excess of £4,500,000 subject to contract and exclusive of VAT.
• A purchase at this level reflects a net initial yield of 5.33% (assuming purchaser's costs of 5.7625%) and a revisionary yield of 6.08%.

 
Accommodation

Lower ground, ground and 5 upper floors totalling 854 sq m (9,195 sq ft) of office, retail and ancillary accomodation.

 
Specification

• Suspended ceilings with recessed Category II lighting
• Four-pipe fan coil air conditioning
• Fully accessible raised floors (lower floors) and perimeter trunking.
• Separate toilet and kitchenette area for each floor
• 13-person passenger lift and 5-person goods lift
• Disabled toilet facilities

Contact

DTZ 020 7710 8044