The building is currently let to Computer Film Holdings on a lease expiring in 2012 at £11.93 per sf gross, producing a net rental income of £218,000 per annum,with the next rent review due at the end of 2001.
Asda Property's Managing Director Patrick Ranger says, "We are delighted to have bought this highly reversionary property. This continues our policy of buying under-rented central London offices. Demand for good quality offices at economic rents in the West-End continues to out-strip supply and with the forthcoming rent review at the end of this year, we will see a significant increase on the current rent of just under £12 per sf."
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