dunedin address

Parker Tower, Parker Street, London, WC2

  • Freehold.
  • Building let to BT, but sub-let to Aegis Media.
  • An opportunistic purchase to take advantage of an anticipated improvement in the Central London market
  • There was also the opportunity to effect a surrender of the BT lease and entering into a direct lease with Aegis on better terms. 
  • Gross Rent : £1.95 m per annum
  • Total Area: 54,245 sq ft.
  • Outline terms agreed with BT and Aegis, together with a plan to refurbish common parts and replace M&E in return for a longer lease and higher rent.
  • Purchased:     £26.35 m June 2004
  • Sold:    £39.40 m Sept 2005