Marketed by
Bidwells
London
25 Old Burlington St, London W1S 3AN
Under Offer
1 of 1
POA
21 Hills Road, Cambridge, CB2 1NW
15888 sq. ft (1476.04 m²)
Key features
- The offices will be arranged over basement, ground and 3 upper floors totalling approx. 12,917 sq ft (1,200 sq m).
- Restaurant / bar over ground floor and basement totalling approx. 2,971 sq ft (276 sq m).
- Start on site Q2 2026. Practical completion Q3 2027.
- Projected Rent: Offices - £795,330 pa (£63.75 per sq ft with 25% discount for basement level and £3,000 for parking space), Restaurant / Bar - £65,000 pa (£21.88 psf) Total - £863,330 pa
Description
Proposals are sought from a joint venture partner to fund the development of REAFF House, a prime and unique mixed-use off and restaurant / bar.
Our client owns the site and we are instructed to seek offers from joint venture partners to fund the development.
The total funding requirement is £9,558,319. The company has access to an existing senior debt facility of £6,700,000 which would reduce the level of equity required from a JV partner to only £2,858,319 and produces a projected return on equity of 58.46%.
Alternative consideration will be given to a freehold site sale at £2,500,000 subject to contract and exclusive of VAT.
Our client owns the site and we are instructed to seek offers from joint venture partners to fund the development.
The total funding requirement is £9,558,319. The company has access to an existing senior debt facility of £6,700,000 which would reduce the level of equity required from a JV partner to only £2,858,319 and produces a projected return on equity of 58.46%.
Alternative consideration will be given to a freehold site sale at £2,500,000 subject to contract and exclusive of VAT.
Reference: 340276_sales
Marketed by
Bidwells
London
25 Old Burlington St, London W1S 3AN
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