The building has been finished to a high standard, featuring wooden flooring and floor-to-ceiling glazing around a central feature staircase. It also offers excellent ceiling heights, VRV air conditioning, and new end-of- journey amenities.
Location
The building is situated in the heart of Southwark, with the vibrant amenities of Bankside right on its doorstep.
Borough Market, Flat Iron Square, and Mercato Metropolitano are all just a short walk away, offering a trendy selection of food markets, bars, cafés and destination restaurants.
With the underground at Borough just a short walk away and National Rail services at London Bridge and Elephant & Castle within 10 minutes, travelling across London and beyond is easy.
Accommodation
4th Floor Office - 671 sq ft (62.3 sq m)
3rd Floor Office - 785 sq ft (72.9 sq m)
2nd Floor Office - 1,238 sq ft (115.0 sq m)
1st Floor Office - 1,451 sq ft (134.8 sq m)
Ground Floor Office - 675 sq ft (62.7 sq m)
Retail - 592 sq ft (55.0 sq m)
Lower Ground Floor Office - 635 sq ft (59.0 sq m)
Retail - 466 sq ft (43.3 sq m)
SUB TOTAL OFFICES - 5,455 sq ft (506.7 sq m)
SUB TOTAL RETAIL - 1,058 sq ft (98.3 sq m)
GRAND TOTAL - 6,513 sq ft (605.0 sq m)
Terms
Proposal - The Vendors are seeking offers in excess of £4.95 million, reflecting £760 per sq ft.
Lease - The ground and lower ground retail unit is let to Newington Causeway Limited (Trading as Crystal Pharmacy) by way of an effective FRI lease for a term expiring in June 2042. The lease contains a tenant only option to determine in June 2037 subject to 6 months notice.
The passing rent is £40,000 and is subject upward only rent reviews on the 5th, 10th and 15th anniversaries of the term.
Tenure - The property is held freehold under title number TGL171194.
Planning - The property is not listed, but sits close to the Trinity Church Square Conservation Area in the Borough of Southwark.
VAT - The property is elected for the purposes of VAT and it is anticipated that the transaction will be treated as a Transfer of Going Concern (TOGC).
Capital Allowances - Further information is available upon request.
EPC - The offices have an EPC rating of 45 within Band ‘B’. The retail has an EPC rating of 43 within Band ‘B’.
Anti -Money Laundering - In order to comply with anti-money laundering legislation, the preferred purchaser will be required to provide acceptable identification documentation.
Specification
- Freehold office & retail building for sale.
- Located in the vibrant & sought-after Southwark district.
- Of interest to investors & owner occupiers.
- Refurbished prominent corner building providing modern air-conditioned offices of 5,455 sq ft arranged over lower ground, ground and four upper floors, with a separately accessed retail unit arranged over basement, ground totalling 1,058 sq ft.
- Retail unit let to Newington Causeway Ltd trading as a chemist until 7th June 2042 at a rent of £40,000 per annum.
- Wooden flooring.
- Floor-to-ceiling glazing.
- Excellent ceiling heights.
- VRV air conditioning.
- New end-of-journey amenities.