- Prominent investment opportunity
- Freehold
- New roof covering
- Development potential
Full Description
LOCATION
The property is prominently located on the east side of Borough High Street just south of the junction with Newcomen Street and close to the popular Borough Market and Bankside locality. Borough Station (Northern Line) and London Bridge mainline and underground stations (Northern and Jubilee Lines) are both within a short walk.
Recent and on-going major redevelopment has transformed this area into one of London’s most sought after business, leisure and residential destinations.
DESCRIPTION
Comprises an attractive small end terrace period building arranged over basement, ground and three upper floors.
The ground floor and basement are currently a sports therapy clinic with three partitioned treatment rooms, reception area and fitness room. The upper floors are offices, with the first floor being partitioned into two spaces and the other floors being open plan. W.C.s are located on the stair landings (exc. ground floor)
Ground floor has own entrance with the other floors accessed via a separate doorway, both from Chapel Court.
ACCOMMODATION
Basement : 284 sq ft
Ground Floor : 329 sq ft
First Floor : 283 sq ft
Second Floor : 282 sq ft
Third Floor : 303 sq ft
Total : 1,481 sq ft
SPECIFICATION
- Gas central heating
- LED lighting
- Wood flooring in upper floors
- New roof covering in 2025 (with 20 year guarantee)
TENANCIES
Currently three tenancies in place over the ground/basement, first and second floors producing a total of £43,900 per annum. The third floor is vacant with an ERV of £12,000 per annum.
Tenancy schedule available on request.
DEVELOPMENT POTENTIAL
There is an outline scheme for an additional floor and conversion of the upper parts to create two one and half bed flats. Details available on request.
PROPOSAL
The Freehold held under title SGL61650 is offered for sale subject to the existing tenancies. Offers invited in the region of £850,000 reflecting a gross initial yield of just over 6.5% on the current income and ERV of the vacant third floor.
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
Click here to view the Energy Efficiency Rating and Environmental Impact Rating for this property.
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.