Topland Group has put the UK's Central Family Court building in London up for sale with a price tag of £145m (€198 mln).

Topland Group has put the UK's Central Family Court building in London up for sale with a price tag of £145m (€198 mln).

First Avenue House, a freehold office building, has been occupied by the court since it was substantially refurbished 10 years ago and has been leased for a further 23 years. The passing rent of £4.8 mln a year is subject to fixed uplifts of 2.5% a year for the remainder of the lease.

The building contains 10,400 m2 of space comprising a court, office and ancillary administration over a basement and seven upper storeys, with a 50m frontage along the north side of High Holborn.

Stephen Down, head of central London investment at Savills, which is handling the sale, said: 'Midtown has seen incredible transformative change with relentless occupier and investor demand and this trend looks set to continue through the strength of the proposed development pipeline. The redevelopment options at expiry on First Avenue House also present an exciting long-term option to this unique asset.'