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- CP House is a prominent self-contained Greater London office investment opportunity with numerous unrealised asset management opportunities.
- Located in the London Borough of Ealing, approximately 8 miles west of Central London.
- Ideally situated on Uxbridge Road close to Ealing town centre.
- 8 minute walk from Ealing Broadway station and a 5 minute walk to West Ealing railway station, both of which are on the new Elizabeth (Crossrail) line, due to open in 2019.
- The property comprises a self contained office building providing 51,602 sq ft (NIA) and 69,678 sq ft (GIA) over ground, basement and 10 upper floors, with additional roof (plant) space.
- A total of 125 car parking spaces, providing an excellent parking ratio of 1:413 sq ft.
- Freehold.
- Site area of 1.14 acres equating to a very low site coverage of 25%.
- The property is let to 10 tenants producing a current passing rent of £1,375,319 p.a (£26.65 psf), which includes a 12 month vendor rent, rates and service charge top up on the vacant space.
- A very low average passing rent of £25.74 psf on the current let space
- The AWULT to break is 1.43 years and 1.86 years to expiry.
- Vacancy rate of 21.6%.
- 95% of the leases expire by November 2020.
- All the leases are outside the L&T 1954 Act.
- Potential office refurbishment opportunity with Grade A office rents in Ealing now standing at over £40 psf.
- Due to the current configuration and layout of the building, the property is ideal for change of use to residential via Permitted Development Rights (PDR).
- CP House is not within an Article 4 Direction.
- Opportunity for the extension of the existing buildings by way of additional floors, subject to obtaining the necessary consents.
