Workspace granted Amnesty building in London for €23m

UK REIT Workspace is to acquire Amnesty International's London offices for £16.5 mln (€23 mln).

Workspace said the property at 25 & 28 Easton Street, WC1 complements the investor's portfolio of space for new and growing companies in the UK capital.

The property is located in Clerkenwell close to Exmouth Market. The converted warehouse-style offices with a net internal area of 21,000 sq ft (1,905 m2) comprise basement, ground and three upper floors. There is also potential for an extension.

The building is being acquired from the existing owner and occupier, Amnesty International, at a capital value of £794 per square foot. It will be reconfigured and let as a business centre at the conclusion of a two-year leaseback to Amnesty at a rent of only £10 per square foot.