Investec has appointed separate agents to market four landmark London and regional offices it had marketed for sale as a combined portfolio last year after appointing receivers.
Investec appointed CBRE as fixed charged receiver last year on the four offices, which were managed by Floreat Real Estate Management.
At the time, Knight Frank was appointed to market for sale the four offices: Castlemead in Bristol; Spencer House in Richmond, London; the Shipping Building in Hayes, west London; and Churchill House in Cardiff.
Castlemead, Bristol's "tallest office building", came to market earlier this year with CBRE appointed to seek £27.5 million, reflecting a net initial yield of 11.48%, with the quoting price dropping by £10 million since it was marketed last year.
The 80-metre building is opposite the Cabot Circus Shopping Centre close to Bristol's business district. It is multilet to 15 tenants and is 94% occupied.
Built in the 1980s, the 19-storey tower has 132,000 square feet of offices. Serviced office provider Regus occupies the largest space at circa 30,000 square feet. Other tenants include professional services firm Marsh Corporate, with two floors totalling around 15,000 square feet, as well as Optical Express and IMDB Services. The property is held on a long lease from Bristol City Council.
Colliers has now been appointed to market Spencer House in Richmond in south west London, seeking £11.75 million or a net initial yield of 9.86%.
The building is located on a 0.52 acre site, 300 metres from Richmond Station and comprises 28,790 square feet arranged over ground and four upper floors, with a gym studio on the ground floor.
The property is let to five tenants with a passing rent of £1,236,734 a year. The passing rent reflects £44.12 per square foot on the office, a discount to prime Richmond rents of £62.50 per square foot. Tenants include Duracell and Newport Industries.
Allsop has been appointed to sell The Shipping Building in Hayes in west London, an 101,684-square-foot office over ground and six upper floors, seeking £10 million and a net initial yield of 13.11%.
The contracted passing rent is £1,398,814 per annumn, reflecting an average rent of £22.49 per square feet. There is a weighted average unexpired lease term of 4.2 years to expiries and 1.4 years to breaks.
Allsop says there is a significant opportunity to reposition to various alternative uses including residential, hotel, student accommodation and self-storage.
Knight Frank is selling Churchill House on Churchill Way in Cardiff with a guide price of £11.27 million and a net initial yield of 9.25%.
The multilet office building in Cardiff city centre comprises 92,142 square feet leased to tenants including The Secretary of State for Levelling Up, Jacobs UK and SKR Consulting.