TOG’s Hammersmith home up for sale

Schroders’ UK Real Estate Fund has put One Lyric Square in Hammersmith, W6, up for sale for just over £105m, reflecting a net initial yield of 4.75%. Michael Elliott has been instructed to market the 103,374 sq ft virtual freehold property, which is let in its entirety to The Office Group (majority owned by Blackstone) for 19.5 years without a break. The total passing rent is just under £5.4m pa (£51.80 per sq ft) and the capital value is £1,021 per sq ft. One Lyric Square, opposite Hammersmith Underground station, is within the King’s Quarter area, which is undergoing a multi-million-pound repositioning project. The 1970s, 14-storey property underwent a £42m refurbishment designed by architect Stiff + Trevillion that completed last summer, of which £35m was from the landlord and £7m spent by TOG on its internal fit-out.   To send feedback, e-mail louise.dransfield@egi.co.uk or tweet @DransfieldL or @estatesgazette