This freehold office building is located on the west side of Shaftesbury Avenue, north of the junction with Charing Cross Road. It was completed in 2002 to a high specification.

We advised our client, Goodman Property Investors, to take advantage of the extremely strong market conditions mid-2007, and sell the property, realising a significant profit.

The total size of the building is circa 48,900 sq ft, over lower ground to seventh floors with a roof terrace.

The offices were let to four tenants, with expiries/breaks between two and six years away. The total passing rent reflected approximately £38 per sq ft, well below the market rent at the time of sale.

We acted on behalf of the vendor, and sold the building on an “off-market” basis, for £56,760,000 to a UK institutional investor in mid 2007. The sale price reflected a net initial yield of sub 3.5%.