123 Pall Mall

Trophy office investment in St James's, one of London’s most desirable sub markets.

• 123 Pall Mall is located moments from St James’s Square, London’s most prestigious office address
• Benefiting from world renowned retailers, restaurants, private members clubs and hotels in close proximity
• Excellent transport links with Green Park and Piccadilly Circus Underground stations nearby, and Charing Cross and Victoria mainline stations only a short walk away
• Two of the Royal Parks, Green Park and St James’s Park, are less than 5 minutes’ walking distance
• The highly specified Grade II Listed building was comprehensively refurbished in 2018 providing 21,101 sq ft (1,960.4 sq m) of Grade A offices over lower ground, ground, mezzanine and five upper floors
• Generous floor to ceiling heights of up to 3.2m
• The property is held long leasehold for a term of 127 years from 29th September 1987 (94.3 years unexpired) at a passing head rent of £112,844 per annum
• Multi-let to a diverse range of tenants providing a strong covenant mix and attractive WAULT of 6.26 years to expiries and 3.16 years to breaks
• We are instructed to seek offers for the long leasehold interest in excess of £22,750,000 (Twenty Two Million Seven Hundred and Fifty Thousand Pounds), subject to contract, reflecting a net initial yield of 5.00% and capital value of £1,078 per sq ft, assuming 6.80% purchaser’s costs