Colliers advised LGIM Real Assets (Legal & General) on the sale
Colliers International’s London Capital Markets team, acting on behalf of LGIM Real Assets (Legal & General) has sold the freehold interest in The Bonhill Building, London EC2 to Mayfair Capital for £112.5 million, reflecting an initial yield of 5.12%.
“The sale follows the successful conclusion of an intensive asset management programme, through which Legal & General significantly improved the standard of the accommodation, level of occupier service and technology used by its tenants. Creating numerous asset management opportunities to increase the rental income and a longer term potential to add additional massing, subject to planning,” said Dominic Amey, Director & Head of City Capital Markets at Colliers International. “The Bonhill Building is extremely well located within the thriving tech city district close to Liverpool Street and Moorgate Stations, appealing to both traditional City occupiers and also the creative and tech industries more associated with the Shoreditch market.”
This prime freehold multi-let office building comprises 115,000 sq ft of grade-A offices, data centre, retail and ancillary accommodation arranged over lower ground, ground and six upper floors. The Bonhill Building is fully let to seven tenants including Nexmo Limited, Iomart Group Plc and Crabtree & Evelyn at an average passing rent of £53.46 per sq ft overall.
