230 Blackfriars Road
230 Blackfriars Road SE1
In Q1 2022 Derwent London acquired the 100-year leasehold interest in Conoco House and Quadrant House in Southwark for £55.0m before costs.
Conoco House is a 1970s multi-let office building comprising 60,400 sq ft. At purchase it had a passing rent of £2.1m (£41 per sq ft on average) with all leases expiring in 2025, with tenant breaks in 2023. The net initial yield was 3.5%, rising to c.4.2% on letting the 9,400 sq ft of vacant space.
The adjoining Quadrant House is a 36-unit residential building let to 2074 at a nominal rent.
Together they occupy a 0.8 acre site, which includes 30 car parking spaces, and has medium-term potential for a substantial office-led development in excess of 200,000 sq ft.
- Village
- Southbank
- Type
- Furnished + Flexible
- Offices
- Size
- 60,400 sq ft
(5,610 sq m) - Space Available
- 31,141 sq ft
(2,890 sq m) - Value
- £25 - £50 million
Agents
Knight Frank
020 3967 7095
Savills
020 740 98832
Related Press
04 November 2021
31,141 sq ft of office space is now available at 230 Blackfriars Road. Arranged over four floors, there is 7,297 sq ft of Furnished + Flexible, 7,297 sq ft partially fitted and 16,548 sq ft of CAT A space.
Located in the heart of London’s Southbank, a neighbourhood home to a thriving food and drink scene, vibrant cultural offering and a cosmopolitan community. Perfectly placed to enjoy the best London has to offer.
Agents
Knight Frank
020 3967 7095
Savills
020 740 98832
Location
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