Buyer sought for Hoxton office portfolio

A portfolio of three grade-A office freeholds in Hoxton, Hackney, have been put up for sale for £27.5m. Compton has been instructed to market the offices by owner Aviva. The price tag reflects a net initial yield of 7% and capital value of £851 per sq ft. The portfolio totals 32,379 sq ft. The Bersey Warehouse, on 293 Old Street, EC1, is a former textile warehouse measuring 12,956 sq ft, while the Rutherford (pictured), at 43-44 Hoxton Square, N1, is a former music studio consisting of 6,901 sq ft. Digital Garage, located at 33-35 Hoxton Square, N1, has 12,522 sq ft of space. All of the properties, which have EPC B ratings, generate total topped up rent of just under £2.1m pa, equalling £63.60 per sq ft. The portfolio has five occupiers, including recruitment agency Few & Far and Peckwater Investments, a delivery franchise for kitchen operators. Image from Hoxton Campus