177 Southwark Bridge Road comprises a self-contained office arranged over ground and lower ground floors. The property forms part of a small boutique mixed use development and benefits from its own secure entrance at street level.
Internally, the upper level provides an open plan office with kitchen and w.c. to the rear, whilst the lower ground provides further office space, a glazed meeting room and a w.c shower room. The floors are connected by way of a glass panelled stair, which provides excellent natural light to the lower ground floor.
Location
177 Southwark Bridge Road is located on the eastern side of Southwark Bridge Road, to the north of the junction with Great Suffolk Street. The local area is vibrant and highly desirable, with cultural hubs such as Borough Market, Bankside and Flat Iron Square attracting a wide range of tourists, residents and occupiers.
The property benefits from excellent transport connectivity, with its close proximity to Borough, London Bridge and Waterloo Stations providing access to Northern, Jubilee, Bakerloo, Waterloo & City and South Western Railway services.
Accommodation
We have not undertaken a measured survey however understand the property to comprise the following approximate areas:
NIA - 893 sq ft (83 sqm)
GIA - 1,113 sq ft (103 sqm)
Terms
Tenancy - The property is let to Datacom Recruitment Limited, a long established IT Services recruitment firm.
The lease is for a term of 10 years from August 2019 at a rent of £XXX per annum.
There is a tenant only break option at the 5th year. The tenant benefited from 9 months’ rent free, arranged as half-rent payable for the first 18 months of the lease. There is an upward only rent review at the 5th anniversary
Tenure - A new 150 year Long-Leasehold interest will be granted upon completion of the sale. The ground rent will be a peppercorn.
Energy Performance - EPC Asset Rating = 58 (Band C). A copy of the EPC is available upon request.
Price - Pricing is £XXX (Five Hundred and Seventy Five Thousand Pounds Sterling) for the Long Leasehold interest, subject to contract and exclusive of VAT. This reflects an attractive net initial yield of 6.63% and a capital value of £XXX per sq ft assuming purchasers’ costs of 4.97%.
Specification
- Air conditioning
- Wood flooring
- LED lighting
- Floor boxes
- Fully equipped kitchen
- WCs and shower
- Built-in storage facilities
- Glazed meeting room