DTZ Investors completes on sale of 80 Clerkenwell Road
DTZ Investors has disposed of 80 Clerkenwell Road, London EC1M, a 12,387 sq ft newly refurbished showroom and office building, to Orchard Street Investment Management for £18.5 million, representing a net initial yield of 4.63%.
The asset benefits from a visible boutique showroom, whilst the upper floors comprise modern office accommodation fully-let to four tenants.
Following acquisition in 2014, DTZ Investors undertook a comprehensive BREEAM-rated redevelopment to this prominently located building, which was nominated for a BCO award earlier this year. Testament to Ben Adams Architects design and the leasing team at Colliers and Richard Susskind, the fully-let property now commands an average rent of £73.83 per sq ft.