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TH Real Estate brings City property to market

7 Bishopsgate

TIAA Henderson Real Estate (TH Real Estate) is bringing 7 Bishopsgate to market. Located in a prominent position in the City of London, the building has recently been comprehensively refurbished throughout, to provide 57,433 sq ft of grade A office space and ancillary accommodation arranged over lower ground, ground and six upper floors. Currently let to or under offer to five tenants, it holds a long leasehold for a further 105 years.

The asset is being sold on behalf of TH Real Estate’s Central London Office Fund II (CLOF II) which was established in 2010.

Offers will be sought in excess of £47.25m, which reflects a net initial yield of 5.0%. 

Clive Castle, Fund Manager of CLOF II, commented: “The City of London occupational market continues to strengthen, with office availability at its lowest level since 2001. This is an exciting opportunity to take advantage of the diminishing supply of Grade A offices in the City core and associated strong rental growth.”

Savills is acting on behalf of TH Real Estate.

Disclaimer
Issued by Henderson Real Estate Asset Management Limited, 201 Bishopsgate, EC2M 3BN. Authorised and regulated by the Financial Conduct Authority. TH Real Estate is a name under which Henderson Real Estate Asset Management Limited provides investment products and services. The value of investments and any income will fluctuate (this may be partly be the result of exchange rate fluctuation) and investors may not get back the full amount invested. Where opinions have been expressed, they are based on current market conditions and are subject to change without notice.

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