Description of 268 - 270 High Holborn
268 - 270 High Holborn is a commercial building in London WC1.
BT telephone exchange station.
The six-storey property is a purpose built telephone exchange with ancillary archive, storage and office accommodation totalling 67,800 sq. ft. (6,299 sq. m.) on a half acre site. It is let in its entirety to BT plc for an initial term of 30 years, expiring in 2031.
BT are utilising vacated operational space at this specific Telephone Exchange and are due to submit a change of use application to fit-out the 1st, 2nd and 4th floors as offices, with the intention of BT reoccupying the entire building and moving 250+ personnel back into the building.
The main part of the building fronting High Holborn was originally constructed in 1927. A five-storey rear extension was added in 1961 and interlinks with the main building at the basement, ground and three upper floor levels. The structure of the original building and extension is reinforced concrete, with a decorative Portland stone façade.
The nearest tube station is Holborn.
2016 February - Telereal Trillium completes the sale of 268 - 270 High Holborn to a UK Pension Fund for £42.7m, reflecting a Net Initial Yield of 3.4% and a capital value of £630 per sq. ft. Telereal Trillium acquired the property in 2001 as part of its strategic property partnership with BT plc. Graham Edwards, CEO at Telereal Trillium said: “Telereal Trillium always looks to add value for ourselves and our partners. By working with BT, we were able re-gear this lease and thereby create an investment that is attractive to institutional purchasers.” Farebrother were the selling agents. Finn & Co and Savills acted for the Purchaser.