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The freehold of No 2 Suffolk Lane in London and the freehold of 66 Turnmill Street in Farringdon are currently being marketed by Marldon for £17m and £11m respectively.
No 2 Suffolk Lane is 16,822 sq ft and is arranged over basement, lower ground, ground and three upper floors and comprises 27 serviced apartments, as well as a separate vacant fitted wine bar. The apartments are fully furnished and the wine bar has been designed to offer a traditional City bar and casual dining experience.
It is located on a corner of Suffolk Lane, Gophir Lane and Bush Lane, and benefits from transport connections being a short walk from a number of stations including Bank, Cannon Street and London Bridge.
66 Turnmill Street totals 13,614 sq ft and comprises 14 studio serviced apartments, three office units and one retail unit.
The seven storey building is situated adjacent to Farringdon station at the junction of Turnmill Street and Broad Yard, and is one stop from Kings Cross St Pancras. The surrounding area includes entertainment attractions, universities, as well as Great Ormond Street and St Bartholomew’s Hospitals.
Farringdon station provides excellent transport links through the Elizabeth line, Circle line, Hammersmith and City line, and mainline rail.
Alex Sturgess, director, hotel capital Markets, Savills, said: “We are pleased to have been appointed to sell these properties on behalf of Marldon alongside Colliers. Both of these properties have profound investment fundamentals given their specification and location. No 2 Suffolk Lane and 66 Turnmill Street are high yielding assets and we don’t expect them to be around for long.”
Colin Hall, director at Colliers, added: “City C1 serviced apartment buildings rarely enter the market and these are two particularly good examples with each having the opportunity of significant additional income. They would nicely augment an existing portfolio or together would form the nucleus for a new chain looking to enter this reliably solid market.”
