A portfolio of Vodafone Enterprise's data center and office freeholds in central London has been put up for sale.
The portfolio is reportedly valued at £100 million ($128.3m).
The properties are let to Vodafone Enterprise UK on leases expiring in April 2032. They generate total passing rent of £6.1 million ($7.8m) per annum.
EGI said the sites are being marketed with scope for medium to long-term redevelopment potential for uses including student and residential, as well as more offices and data centers.
The sites included are:
- Addison House, Chart Street, Old Street, N1
- Wakefield House, Chart Street, Old Street, N1
- 24-40 Dock Street, Wapping, E1
- Mobility House, Croft Street, SE8
- Smale and Solaglass House, Great Suffolk Street, SE1
- 21 Miles Street, Vauxhall, SW8
The three-story Smale House, formerly a glassworks site, was home to Cable & Wireless from 1958 until the company was acquired by Vodafone in 2012. It is named after John Smale, Cable & Wireless’ Engineer-in-Chief. It was recently renamed the Speechmark and is largely an office facility.
The Dock Street site, built around 2000 and formerly known as the Turret Business Centre, is a former Cable & Wireless facility used as a data center. The site was previously a telecoms facility for C&W subsidiary Mercury Communications during the 1980s. Prior to that, the site was an industrial sugarhouse warehouse.
Judging from the large amount of roof infrastructure, Addison House/Wakefield House on Chart Street appears to be another multi-story data center. UK property company British Land lists the site on its website as a "data storage building with ground and four upper floors."
Mobility House on Croft Street is another multi-story data center previously operated by Cable & Wireless.
Last year Keppel DC REIT acquired a Vodafone data center in the Bracknell area of London in a sale-leaseback deal for $57 million ($76.9m).
2022 also saw Vodafone announce it was looking for “sale-and-leaseback and repositioning opportunities” for its Newbury headquarters campus. The campus consists of 486,270 sq ft of office space across seven self-contained buildings.