CBRE Investment Management has put a prime London Midtown office block on the market seeking £42.5 million or a 6.69% net initial yield.
York House at 23 Kingsway comprises 51,483 square feet of offices, leisure and ancillary accommodation. The office is let to seven office and one leisure occupiers with a weighted average unexpired lease term of 5.88 years and 4.25 years to break options on let accommodation.
Tenants include St James's Place Wealth Management, Silvergate Media and Building Societies Association.
CBRE has been appointed to market the building at a sale price that reflects a capital value of £825 per square foot.