Tooley Street, SE1

Freehold Mixed Use Building /Investment For Sale

LOCATION

The property is located on the southern side of Tooley Street and directly opposite the large More London campus.

The newly redeveloped London Bridge station is approximately 200m to the west and the popular Borough Market and Bankside localities are also within walking distance as is the vibrant Bermondsey Street area.

DESCRIPTION

Comprises a prominent period freehold building with retail over the lower two floors and a one bedroom apartment over first, second and mezzanine floors above.

The retail unit is set over the ground floor and lower ground floor and currently trades as an estate agency. The ground is arranged as the main front open plan sales area whilst the lower ground provides a meeting room and breakout space with WC and tea point.

The residential accommodation is situated over the first, second and mezzanine floors and comprises double height reception room on the second floor with mezzanine above plus galley kitchen with bathroom and bedroom on the first floor, the mezzanine can be used as a second bedroom.  Accessed via a separate doorway at front of the property.

The apartment is fitted to a high standard with feature spiral staircase.

ACCOMODATION

The approximate net internal floor areas of the retail unit are :

Ground Floor : 230 sq ft (21.36 sqm)

Lower Ground: 200 sq ft (18.58 sqm)

Overall area of the residential accommodation is approximately 500 sq ft (46.45 sqm).

TENANCIES

The retail is let by way of a lease from 28^th October 2018 for a term of 10 years, expiring 27^th October 2028, with no break options. The lease is on tenant’s full repairing terms for the building, inside the Landlord & Tenant Act 1954.

Current rent is £22,000 per annum with rent review 28^th October 2021 and 28^th October 2025.

The apartment is let by way of an assured shorthold tenancy with three months’ landlord break notice at £1,841 pcm equating to £22,092 per annum.

PROPOSAL

Freehold for sale subject to the existing tenancy.

Offers in the region of £1,075,000 .

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

Disclaimer
Field and Sons Commercial endeavour to maintain accurate depictions of properties in Virtual Tours, Floor Plans and descriptions, however, these are intended only as a guide and purchasers must satisfy themselves by personal inspection.