Mixed use for sale
Property description & features
- Opportunity to purchase the freehold building arranged over lower ground, ground and four upper floors
- Upper floors will be sold with vacant possession
- Situated in a prominent position on Tooley Street, a short walk from London Bridge Station and a 10-minute walk from Borough Market
- Outstanding opportunity that would appeal to a variety of buyers due to the property’s sought-after location and potential for refurbishment or development (subject to planning)
- Total net internal area of 3,981.44 Sq.ft (369.89 sq.m)
- Ground floor and lower ground floor lease expires in 2029 paying a rent of £40,000
- Quoting offers in region of £1,500,000
Overview
The property comprises a building of masonry construction arranged over six floors including the lower ground and ground floor.
The property provides retail accommodation on the ground floor and lower ground floor with office accommodation on the first, second, third and fourth floors. The ground floor and lower ground floor retail unit, currently let to a hospitality business is mainly open plan with seating, kitchen and storage towards the rear of the property. The remaining elements of the first, second, third and fourth floors comprise open plan configuration and benefit from excellent natural light and high ceilings.
The property provides retail accommodation on the ground floor and lower ground floor with office accommodation on the first, second, third and fourth floors.
Location
128 Tooley Street benefits from excellent transport links and is very well connected with the newly redeveloped London Bridge Station a few minutes’ walk away. Also located within close proximity to local bus routes and London Underground stations.
The building is within a 10-minute walk of Borough Market, Butlers Wharf, Bermondsey Street and Maltby Street Market providing a variety of restaurants, street food, bars and cafes, the property also sits opposite the Unicorn Theatre.
Accommodation
The retail unit has been measured in accordance with the 6th edition of the RICS Code of Measuring Practice and provide the following net internal areas:
Lower Ground Floor: 992.43 ft² (92.20 sq.m)
Ground Floor: 893.94 ft² (83.05 sq.m)
First Floor: 909.65 ft² (84.51 sq.m)
Second Floor: 487.06 ft² (45.25 sq.m)
Third Floor: 446.70 ft² (41.50 sq.m)
Fourth Floor: 251.66 ft² (23.38 sq.m)
TOTAL: 3,981.44 ft² (369.89 sq.m)
Tenancies
128 Tooley Street is let on a 21-year lease from 26 March 2008, expiring on and including 26th March 2029. The lease has a current passing rent of £40,000 pa.
Price
Quoting offers in the region of £1,500,000 (One Million Five Hundred Thousand Pounds) for the freehold, subject to contract and excluding VAT.
Property information from this agent
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