Lant Street, SE1

Small Modern Office/Retail Investment For Sale (L/H)

LOCATION

The property is located on the corner of Lant Street and Sudrey Street, close to the junction with Southwark Bridge Road and within a short walk of Borough Underground station (Northern line). The property is also close to the various attractions of the popular Bankside and Borough Market localities and within walking distance of London Bridge station.

DESCRIPTION

Comprises two commercial units over the ground and lower ground floors of this small modern mixed use development.

The ground floor is currently used as an office comprising an open plan space plus kitchen point and single w.c.. Fully glazed corner return frontage with entrance direct from street level.

The lower ground floor is fully self-contained and is also arranged as an open plan space plus kitchen point and w.c. Own entrance with stairs down to the lower level. Amenities include recessed spotlighting and wood flooring.

ACCOMMODATION

The approximate net internal floor areas are:

Ground Floor : 531 sq ft (49.4 sqm)

Lower Ground : 472 sq ft (43.8 sqm)

TENANCY

The Ground Floor is let to J3 Partners Limited by way of a five year lease from 1^st October 2019 with a current rent of £18,000 per annum, rising to £20,000 per annum in October 2021, exclusive of all outgoings. The lease is outside the Landlord & Tenant Act 1954.

The Lower Ground Floor is let to Hospitality Tech Holdings Limited by way of a five lease from 1^st August 2020, with a six month notice rolling mutual break at a rent of £18,000 per annum, exclusive of all outgoings. The lease is outside the Landlord & Tenant Act 1954.

PROPOSAL

The Ground and Lower Ground floors are offered for sale by way of the existing long leasehold for a term of 125 years from 25^th December 2006. The current ground rent is £300 per annum, which increases to £600 after 33 years with a further increase to £1,200 after 66 years for the remainder of the term.

PRICE

Offers invited in the region of £675,000 for the long leasehold interest, subject to the existing tenancies as above. We understand VAT will be payable on the sale price.

Viewing
Please contact us on 020 7234 9639 if you wish to arrange a viewing appointment for this property, or require further information.

Energy Performance Certificate
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