21 Garlick Hill

Acting on behalf of a private investor, we undertook a formal marketing campaign of 21 Garlick Hill. The 22,238 sq ft office building was developed in the late 1980s and is held leasehold for a further 117 years at a 7.5% gearing. It is fully let to 8 tenants.

Capital Real Estate Partners advised on the sale to the City Corporation for £10.65 million, reflecting a net initial yield of 6.56% and an unadjusted capital value of £479 per sq ft.