1 Jun 2026
- What The City of London Corporation is selling the Worship Street Estate for £72.5m, 8.7%
- Why Part of the City’s capital recycling programme to help fund major regeneration projects, including in Smithfield and south of Fleet Street
- What next The asset is likely to attract interest from value-add and opportunistic investors given the current income and reversionary potential across the esta
The City of London Corporation has put the Worship Street Estate, an island site in the Square Mile, up for sale, Green Street News can reveal.
Kauffmans and Savills have been jointly instructed to find a buyer for the estate, guiding around £72.5m, reflecting a yield of 8.7% and a capital value of £372/sq ft.
The two-acre estate – bounded by Worship Street, Tabernacle Street, Bonhill Street and Paul Street – comprises 10 freehold properties and one long leasehold interest totalling 195,000 sq ft across 11 buildings.
The portfolio is currently multi-let to 25 tenants, generating an overall rent of £40/sq ft, with a WAULT of 3.6 years to expiry and 3.1 years to the lease breaks.
The asset is likely to attract interest from value-add and opportunistic investors given the current income and reversionary potential across the estate. The eastern end of the site is capable of supporting a major redevelopment of up to 200,000 sq ft of headquarters office space.
The disposal forms part of the City Corporation’s broader, five-year capital recycling programme, where the authority is realising assets from its investment portfolio to fund major regeneration projects, including in Smithfield and south of Fleet Street.
Source by James Buckley | Green Street News
