TH RE puts Hilton's HQ up for sale

By Paul Norman - Wednesday, September 13, 2017 15:00

TH Real Estate has brought to market Hilton Worldwide's headquarters in Watford seeking in excess of £20.3m, reflecting a net initial yield of 7%.

Maple Court comprises 71,902 sq ft net of Grade A office accommodation, arranged over ground and two upper floors and comprised across symmetrical L shaped floor plates.

Hilton Worldwide occupies the building as its European headquarters.

It recently regeared its lease on the whole, extending it from lease expiry on 24th June 2017 for a further 10 years, with a tenant only break option at the end of the 5th year.

The property therefore provides a WAULT of circa 4.75 years to breaks and 9.75 years to expiries. The new agreed rent passing totals £1,516,728 pa (£21.09 psf).

Knight Frank is advising on the sale.

pnorman@costar.co.uk

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