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London & Regional seeks £78M for London office asset

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London & Regional seeks £78M for London office asset

London & Regional Properties Ltd. is looking to sell The Epworth office building in Shoreditch, London, for £78 million, reflecting a net initial yield of 4.8%, Property Week reported.

The company has enlisted Allsop to market the 62,789-square-foot property, which spans eight floors, according to the report. The recently developed Art Deco building is fully leased by Japanese company NTT Data Consulting, IT Solutions and flexible office provider Spaces.

It generates a total annual rent of £3.9 million, with a 13-year weighted average unexpired lease term, the news outlet added.