The freehold of 171-191 Borough High Street, in Southwark, central London, has been put on sale by a private client for more than £33m, reflecting a net initial yield of 7.35%.
171-191 Borough High Street
The office building offers 31,179 sq ft of space across ground, basement and four upper floors and is fully let to education provider Kaplan Financial until January 2033.
The company has occupied the building for more than 30 years and has recently completed significant upgrades of its space, including a new all-electric plant, and a comprehensive refurbishment of the fourth floor.
An additional £1m investment has been made into refurbishing the basement, which is scheduled to be completed in late 2026.
The building has an EPC rating of ‘A’ and is located between Borough and London Bridge Underground and rail stations.
Savills has been appointed to sell the asset. Charlie Stoneham, director in Savills’ central London investment team, said: “This is an exciting opportunity to acquire a sustainable building single let to an investment-grade tenant, who has been in occupation for over 30 years.
“Borough High Street is a vibrant area of London with easy access to the Square Mile and the rest of the capital.”
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