10 Fetter Lane comes to market

Savills, on behalf of Cordea Savills, has brought 10 Fetter Lane in London to the market for a guide price of £26.8 million, reflecting a net initial yield of 5.75%.

The mixed-use property is located in London’s vibrant midtown area and comprises 48,247 sq ft 94,482 sq m) of retail, leisure and office accommodation, which has recently been refurbished to grade A specification.

The office space is currently let to five tenants including International Broadcasting Convention, F J Cleveland LLP and Rollingsons Solicitors Ltd, while the retail units are let to Slug & Lettuce and Temple Bar respectively. The property generates an annual passing rent of £1.63 million with an average weighted unexpired term of approximately 8.5 years.

Felix Rabeneck, Investment Director at Savills, comments: “With a diversified income profile, asset management options and a strong position in a thriving business district, 10 Fetter Lane is an appealing investment opportunity that offers good potential to maximise revenue.”