City of London looks to sell Mansell Court as repositioning opportunity

The City of London Corporation is looking to sell its mixed-use Mansell Court asset for a price in excess of £10.8m. Built in 1990, the six-storey building at 69 Mansell Court, E1, is made up of 41,367 sq ft of office space and 1,639 sq ft of residential space on the fifth floor. Currently entirely let to United Insurance Brokers, which has recently served a break notice, the building is set to be vacant by 14 September 2025. The fourth floor is currently sublet to insurer CBC UK, but the lease is due to finish at the same time as UIB’s. Total rent runs at £1.6m per year, equating to a rent of £37.20 per sq ft, which is low in comparison to the average of £47.24 recorded for the E1 area over the past year, according to EG data. The City of London has appointed Knight Frank to market the asset, which is being advertised as an opportunity for refurbishment and extension in its current part-office, part-residential form, or as an opportunity to explore alternative uses. According to feasibility studies conducted by John Robertson Architects, the asset can be refurbished to provide more than 8,000 sq ft of additional space, with terraces, a new reception and major façade upgrades. Alternatively, it could be repositioned as a hotel with 129 bedrooms of 195-325 sq ft; student accommodation with 94 en suite bedrooms; or 40 apartments, ranging from one bedroom to three, as well as a manned reception and a café on the ground floor. See occupational sale comparables in the City of London >>