£9.400.000
Confirmation
Converted Victorian Warehouse
London, United Kingdom
Office
#14739
Core+
21 Oct 2024
Property Details
Broker
Deactivated
11,040 sq.ft.
1,026 m²Leasable area
851 £/sq.ft.
9,161 £/m²4.90 %
3
Freehold
Fees
Investment Overview
Located in the heart of Southwark, one of London’s most diverse and vibrant submarkets. Converted Victorian Warehouse comprising 11,040 sq ft (1025.7 sq m) of recently refurbished office and ancillary accommodation arranged over lower ground, ground and four upper floors. Excellent transport communications being situated a one minute walk from Borough Underground Station and an eight minute walk to London Bridge Underground and National Rail Station. Multi-let to three tenants producing a total passing rent of £490,152 per annum (inclusive of vendor top ups) reflecting a low overall passing rent of £44.40 psf, with prime Southwark rents now in excess of £75.00 psf. Weighted average unexpired lease term of 1.93 years to expiries on the let accommodation. Immediate asset management opportunities including letting the vacant accommodation and reconfiguring and rentalising the lower ground floor accommodation.
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