Aldgate House

EC3N
Commercial building

Key Details

Address
33 Aldgate High Street, London EC3N 1DL

Overview

Aldgate House is a commercial building in Aldgate, London EC3.

Aldgate House was built in the 1970s and has undergone significant refurbishment, including an extension of the upper floors, new cladding system in 2008 and interior refurbishment to several floors in 2017 and 2018.

Being situated on a site with great frontage, the property benefits from excellent levels of natural light on all four elevations and provides stunning views from the full floor-to-ceiling glazing on all elevations.

History

2018 September - City Developments Limited
acquires Aldgate House in London for £183 million. Aldgate House has Net Lettable Area (NLA) of approximately 211,000 square feet (sq ft) including Grade A office, retail and ancillary spaces over two basements, ground, mezzanine and eight upper floors. It currently enjoys a strong occupancy rate of 88% with quality and well-diversified tenants that have a strong credit rating. The asset is currently achieving a passing yield of approximately 5%. Over 45% of the office rentals in the building are below the market rents in the Aldgate area and there is strong potential for positive rental reversions. The overall Weighted Average Unexpired Lease Term (WAULT) for the building of 6.2 years (to lease breaks) and 7.9 years (to lease expiries) is attractive as this will provide stable recurring income to CDL.

2013 - Canada Pension Plan Investment Board and Hermes Real Estate buy the 214,000 sq ft property for £100 million.

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Site & Location

Transport

TUBE
Aldgate Underground StationCircle, Metropolitan
BUS
Aldgate Station25, N25, N550, 100, 115, 15, 242, 254, 343, 42, 78, N15, N253, N551

Team

Company
Type
Year
Property Manager
JLL
Lettings

Timeline

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Disclaimer

Information on this page is for guidance only and remains subject to change. Buildington does not sell or let this property. For more information about this property please register your interest on the original website or get in touch with the Connected Companies.