No.1 Lambeth High Street, London, SE1 7JN

The Opportunity
Following recent organisational changes the Royal Pharmaceutical Society has instructed Capita Symonds to bring its freehold interest in 1 Lambeth High Street to the market.
This opportunity will be of interest to owner occupiers, investors and developers.
The property benefits from an excellent central location and provides a number of occupational or asset management options.
Investors and owner occupiers
The property has served as a headquarters office for over 30 years. It has a number of unique features including a naturally lit conference facility and a top floor cafeteria with balcony and panoramic views of central London.
Developers
A unique location with outstanding views. Subject to normal statutory consents there may be an opportunity to convert or  redevelop the property for alternative uses.
The Society intends to move within the next 18-24 months.

Location

No. 1 Lambeth High Street occupies a prominent corner site immediately opposite Lambeth Palace. It has frontage to Lambeth Road and Lambeth High Street and is visible from the Thames.
The Houses of Parliament, Whitehall and the rail hubs of Waterloo and Victoria are all within a mile radius.
It is a well established mixed use location. In the immediate vicinity are the headquarters of the World Maritime Organisation, high  end residential schemes and a variety of tourist and business hotels.

Accommodation

1 Lambeth High Street was purpose built for the Royal Pharmaceutical Society in the 1970s.
The property currently operates as a bespoke headquarters office building, benefiting from unique features including state- of-the-art conferencing facilities and a roof top cafeteria with panoramic views over London.
The property sits on a site of approximately 0.38 acres (0.154 hectares).
 

Terms

Planning
1 Lambeth High Street is located within the London Borough of Lambeth and is situated opposite to the Lambeth Palace  Conservation Area.
Pre-application discussions around the principle of redevelopment have been held with local planning officers.
More information can be found in the online data room. Options presented to the local officers included both conversion and redevelopment of the property for residentially-led mixed use purposes.
Vacant Possession
The General Pharmaceutical Council:
The basement, second and third floors are occupied by the General Pharmaceutical Council until September 2012, a related but  independent organisation to the freeholders, The Royal Pharmaceutical Society.
An extension to the General Pharmaceutical Council’s original lease is currently under negotiation. It is scheduled to expire in September 2014 and will not offer the tenant security of tenure.
A copy of the completed lease will be provided to prospective purchasers.
The Royal Pharmaceutical Society:
The freeholder of the site, the Royal Pharmaceutical Society, occupies the balance of the building and is committed to vacating by September 2014 subject to establishing its new headquarters facility prior. The Society is prepared, in principle, to be flexible on the timing and terms of its occupation.
The Proposition
Offers are invited on a conditional or unconditional basis.