Secure self-contained site with a development opportunity with income.
Location
The site is located on the north side of the Old Kent Road (A2) in a predominantly industrial area, 2.5 miles equidistant from Tower Bridge and the Rotherhithe Tunnel. Opposite, on the south side of the A2, the land use is mainly residential. Drive time to Junction 3 of the M25 is approximately 30 minutes. The site’s also benefits from its close proximity to rail links, which provide further access to the Greater London area. South Bermondsey Rail Station is located 0.9 miles to the North East and Queens Road (Peckham) is 0.6 miles to the South East.
Accommodation
Area/Building 1 - South London Timber Company Ltd
This is land only which has been let, there are no permanent buildings.
32,264 sq ft (2,997 sq m)
Area/Building 2 - Cliwom Sanctuary of Praise Church
This is a former office building with basement and four floors.
Please note that Areas 3 and 4 are also part of the same lease.
Please note that the lease is not for the whole building and excludes the basement and part of the ground floor.
Basement 7,246 sq ft (673 sq m)
Ground 6,403 sq ft (594 sq m)
First 5,506 sq ft (511 sq m)
Second 5,547 sq ft (515 sq m)
Third 728 sq ft (67 sq m)
Area/Building 3 - Cliwom Sanctuary of Praise Nursery (Vivvy Day Nursery)
This is the former British Gas Social Club, which is now used as a nursery.
This site fronts immediately onto Old Kent Road.
Ground 4,592 sq ft (426 sq m)
Area/Building 4 - Cliwom Sanctuary of Praise Car Park.
This is just simply a car park area.
Ground 8,266 sq ft (767 sq m)
Cliwom Sanctuary of praise have a lease which includes the buildings and land labeled 2, 3 & 4 on the site plan, providing an annual income of £55,000 until 5th March 2017
Area/Building 5 - Vacant Industrial Unit.
Ground 1,685 sq ft (156 sq m)
Area/Building 6 - Vacant Unit.
Ground 1,271 sq ft (118 sq m)
Area/Building 7 - JC Decaux
Ground Hoarding
Terms
Area/Building 2 - Cliwom Sanctuary of Praise Church
Basement
Rent - £55,000
Lease Expiry - 05/03/2017
Area/Building 3 - Cliwom Sanctuary of Praise Nursery (Vivvy Day Nursery)
Lease Expiry - 05/03/2017
Area/Building 4 - Cliwom Sanctuary of Praise Car Park.
Lease Expiry - 05/03/2017
Area/Building 7 - JC Decaux
Rent (pa) Rent Review - £33,700 3rd anniversary
Lease Expiry - 5 year term
The property has been elected for VAT
Specification
- Secure self-contained site.
- Main road frontage on the Old Kent Road.
- Good short to medium term income £163,700 per annum (both leases outside the 1954 Act) whilst a development opportuinity is planned.
- The site is well located giving easy access to Central London as well as South East London.