This property comprises a refurbishment of an original industrial building and a new build extension to the side and above, providing a self-contained ground floor office with 10 flats on the upper parts.
The available office for sale comprises the entire ground floor of the property and is fully self contained with two entrances off Cosser Street. The specification includes air-conditioning, suspended lighting, kitchen, 3 WCs and a shower. It also benefits from 3 glazed meeting rooms. These are demountable and therefore could be removed.
The office is currently let to a firm of architects. This lease expires January 2027 and they will be vacating. There is potential for them to surrender their lease and vacate earlier. The current rent is £88,000 per annum exclusive. A purchaser could either buy now and benefit from this rent until January 2027 or delay completion until vacant possession at that time.
The office is offered either freehold (with benefit of ground rent income from flats) or on a new 999 year leasehold basis.
Location
The property is conveniently situated and benefits from excellent transport connections and amenity, including close proximity to the Houses of Parliament and the Old Vic theatre.
Waterloo station (Mainline, Jubilee line, Northern line, Bakerloo line and Waterloo & City line) is within 10 minutes' walk. Lambeth North Underground station (Bakerloo line) is approximately 4 minutes' walk away and provides direct access to the West End.
There is an excellent range of cafes and pubs in the immediate locality, including a GAIL's Bakery within a 1 minute walk. There is also the Lower Marsh food market nearby.
There are open spaces very nearby including the extensive park and public gardens surrounding the Imperial War Museum and at Archbishop's Park.
Accommodation
Self-Contained Ground Floor - 2,885 sq ft
Terms
Price: £1,395,000 +VAT for either the freehold interest or a new 999-year long-leasehold interest.
Rates: Rates payable £57,120 for year ending April 2027 (equating to £19.80 per sq ft).
Service Charge: Approximately £1 per sq ft per year.
Specification
- Self-contained office
- Air-conditioning and heating
- Suspended lighting
- Kitchen
- 3 WCs and 1 shower
- Meeting rooms in situ (can be removed)
- Roller shutter
- Storage