Overseas Private Investor Brings Prime St James's Office Asset to Market for £61m

• A 22,151 sq ft office building at 63 St James’s Street, in London’s St James’s district, has been brought to the market with a guide price of £61m, reflecting a net initial yield of 4.06% and approximately £2,754 per sq ft.
• The multi-let property is occupied by five tenants and provides a WAULT of 5.5 years, with an average of 3.3 years to tenant break options.
• Refurbished in 2021, the building is being marketed by Savills. The current ownership is understood to be an overseas private investor.

A refurbished office investment at 63 St James’s Street, London SW1, has been placed on the market with a guide price of £61m, equivalent to approximately £2,754 per sq ft. Extending to 22,151 sq ft, the property is multi-let to five occupiers and offers a WAULT of 5.5 years, with 3.3 years to the next tenant break options. At the asking price, the property is being marketed to reflect a net initial yield of 4.06%. The building underwent a substantial refurbishment programme completed in 2021. The works included a vertical extension, the creation of additional office accommodation and a rooftop terrace, alongside a comprehensive refurbishment of the existing space. The completed scheme provides approximately 22,000 sq ft of Grade A office accommodation across eight floors. Savills is acting on the sale.