West End landmark hits market for €268m

Savills and Newmark have been hired to sell Stirling Square, a prime office building in London's West End, for over £227.5 mln (€268.4 mln), reflecting a net initial yield of 5%.

Stirling Square

The property, designed by Sir James Stirling, boasts over 8,686 m2 of fully occupied, high-quality office space. It is located in St James's, has a long lease of 122.5 years unexpired, and is currently rented by four international companies. 
The sale presents a significant investment opportunity due to its below-market rents, with 65% of the office leases coming up for review in the next two and a half years. The building also features external terraces and a grand reception area. The property is accessed via a double-height reception facing Carlton Gardens and sits between two private garden squares to the east and west.
Oliver Bamber, director in Savills Central London Investment team, commented: "This is a rare opportunity to buy a highly desirable trophy asset in St James's with an unblemished track record of occupation. There are very few buildings in the area that offer Grade A floorplates over 929 m2, and most of the rents were agreed in 2021 so there is significant scope for performance during the near term."