INDUSTRY NEWS

Vere Street office space on the market for £60m

West End of London Property Unit Trust (WELPUT) has put London office space, One Chapel Place on the market.

The property is situated in a prime position in London’s West End, close to Oxford Street the building is on sale for £60m.

The 34,000 sq ft building has recently been developed and consists of 25,000 sq ft of office space, 5,000 sq ft restaurant and 3,500 sq ft retail and coffee shop area.

In addition to this, One Chapel Place has a manned reception area and a 640 sq ft expanse of roof terrace.

The asking rent for office space is expected to be at around £77.50 per sq ft.

WELPUT purchased One Chapel Place for £22m in July 1010.

WELPUT product manager, John Harding, said:”Our strategy for driving future performance is supported by the range of assets that we have at various stages of the investment and redevelopment cycle. We are very pleased with the completed quality of this building and believe this, together with its central location, will help drive the future performance of this asset and WELPUT.”

The London office is well located at the northern end of Bond Street, close to West End’s core shopping district and department stores Selfridges and John Lewis.

By: Kirsty MacGregor

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