A building that fronts on to Regent Street and contains 36,847 sq ft of central London offices
has been put up for sale.
Charles House, which is located at 5-11 Regent Street, has been placed on the market by F&C REIT Asset Management, CoStar UK reported.
Valued at more than £37 million, Charles House, in St James's, also offers 7,070 sq ft of ground and lower ground level retail space. Nine tenants are currently housed in its London offices
, with Ryman one of the organisations to choose the premises as a base.
At present, the head rent is £232,625 a year, with net passing rent standing at £2,268,303, the publication explained.
The building - which has a 30 m frontage on to the prestigious street - is part of The Crown Estate's investment plans for St James's and its St James's investment programme. The organisation wants to help protect the Grade II-listed facades and ensure Regent Street continues to be a world-class business and retail destination.
Regent Street offers 1 million sq ft of London offices
, ranging from large spaces for international giants such as Apple, Matrix Group and Lloyds TSB to small hubs for growing firms. It is also home to 1.5 million sq ft of flagship retail facilities, with global brands such as Burberry choosing to have a presence here.
At the end of February, The Crown Estate offloaded the headlease of 88 St James's Street to Carlyle for £36.5 million, although it will keep the freehold as part of its £500 million investment plans for St James's, where it holds approximately half of the properties.
Posted by Emma Davies
News provided by Adfero in collaboration with Mellersh & Harding. Please note that all copy belongs to (c)Adfero Ltd and does not reflect the views or opinions of Mellersh & Harding unless explicitly stated.