Rockwell Acquires Office Property In Elephant And Castle, London For £45M
SOLD
$45,000,000
England
See Similar DealsOffice28,314 SF
Sold 02/07/2020
SOLD
Rockwell Acquires Office Property In Elephant And Castle, London For £45M
99 101 Newington Causeway, London Se1 6 Bn, Uk
See Similar DealsOffice28,314 SF
Sold 02/07/2020
Summary
Asset Type:Office
Price Per Square Foot:$1,589
Total Square Footage:28,314 SF
Transaction Type:Sale
The office building located at 99-101 Newington Causeway in Elephant and Castle, London, has been sold in a closed transaction. The property, measuring 28,314 square feet, was acquired by Rockwell – Donal Mulryan for a total sale price of £45,000,000. The purchase price equates to a price per square foot of £1,589.
Summary of transaction details
- Property Type: Office
- Transaction Amount: £45,000,000
- Street Address: 99-101 Newington Causeway
- Market: Elephant and Castle, London
The seller, Salvation Army, was represented by Andrew Cox from Savills. On the buyer's side, Avison Young acted as the buyer's representative. These key individuals and companies played crucial roles in completing the sale of the office property.
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Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,400,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$159,875.50
Cash-on-Cash Return-1.27%
Monthly Debt Service$213,322.96
Annual Debt Service$2,559,875.50
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