The freehold interest in Blue Star House, 234-244 Stockwell Road, Brixton SW9 was acquired in February 2020 for £38.1m before costs.
The 53,750 sq ft eleven-storey building comprises multi-let office space, including two vacant floors, with restaurant and leisure accommodation at ground/podium level.
The rent on acquisition was £0.8m, equating to a low average rent of £14.50 per sq ft on the occupied office space. The acquisition price equates to a capital value of £710 per sq ft.
There is the potential to double the existing floorspace to 110,000 sq t. Vacant possession can be gained in 2025.