Stunning characterful warehouse conversion arranged over lower, ground and three upper floors.
The office floors provide stylish self-contained units benefiting from their own kitchenettes and WCs with exposed brickwork and woodstrip floors.
The lower ground and ground floors comprise a self-contained retail / showroom unit, which could be reconfigured (STPP) to provide an independent entrance.
Location
The premises are situated on the east side of Bermondsey Street close to its junction with Newham's Row in the heart of Bermondsey Village and within the vibrant South Bank area.
Bermondsey Street is a highly sought after location conveniently located for easy access to London Bridge Mainline & Underground Stations (Northern & Jubilee lines & City Thames Link) and handles over 50 million passengers a year.
The area has evolved considerably over recent years and boasts an eclectic mix of independent retailers, as well as numerous cultural attractions and iconic buildings such as The Shard and well established Life Science Campus via Guy's & St Thomas's Hospital.
Accommodation
The premises are arranged as follows:
Third Floor - Office - 693 sq ft (64 sq m)
Second Floor - Office - 655 sq ft (61 sq m)
First Floor - Office - 658 sq ft (61 sq m)
Ground Floor - Retail Accommodation (Use class E) - 779 sq ft (72 sq m)
Lower Ground - Retail Accommodation (Use class E) - 867 sq ft (81 sq m)
TOTAL - 3,652 sq ft (339 sq m)
Terms
Development Potential - The building offers the potential to explore an alternative use (subject to the relevant planning permission). Studio Three Architects have drawn up some indicative plans to show a residential layout for the upper floors, with the creation of an additional floor. Interested parties should undertake their own due diligence in regards to planning and design.
Planning permission was previously granted in 1997 for the use of the 1st, 2nd and 3rd floors as live/work units (Ref: 97/AP/0266).
Tenure - Freehold.
Title - Title No: TGL127205.
Planning - The property is located within the Bermondsey Street Conservation Area, however is not listed.
EPC - Upon request.
VAT - The premises are not VAT elected.
Proposal - The Vendors are seeking offers in the order of £2.975 million reflecting £814 per sq ft for the freehold interest, subject to the existing tenancies.
Legal Costs - Each party to bear their own legal costs.
Tenancies - See attached brochure for information.
Specification
- Freehold stunning warehouse conversion.
- Of interest to owner occupiers, investors & developers.
- Situated within the heart of Bermondsey Village close to London Bridge Station.
- 3,652 sq ft NIA (4,638 sq ft GIA) arranged over lower, ground and three upper floors.
- Upper floors are currently part occupied and let on short term flexible leases, and once fully let the entire building has an estimated rental value of £170,000 per annum.
- Opportunity to enhance the rental income through letting of lower ground and ground floors. This space would make an excellent, café, restaurant of other F&B use (STPP).
- Potential to increase massing and change of use (STPP).
- The Vendors are seeking offers in the order of £2.975 million reflecting £814 per sq ft.