commercial property lambert smith hampton

News - 05/06/2014

LSH appointed to sell Covent Garden offices

Lambert Smith Hampton has been appointed to bring to market Sunnyday Capital's 40 Long Acre, WC2, a prime Covent Garden office refurbishment opportunity.

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The 11,754 sq ft offices are currently let and occupied by Fleishman Hillard Inc, paying £587,000 per annum, with the lease expiring in June 2015. Offers in excess of £.7.5m are being sought.

James McAdden, Associate Director of Central London Capital Markets at LSH, said: "The property represents a rare refurbishment opportunity of superbly located space in the heart of London’s Covent Garden.

Strong rental growth for West End offices

"We expect strong rental growth for West End offices due to growing occupier demand seeking limited stock. Investor interest for Central London office stock remains robust, with a healthy occupier market offering the prospects for capital value growth over the next few years. Opportunities to capture rental growth are highly sought after."