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Development opportunity

Long leasehold for 150 years

Up and coming area near Tower Bridge

Free parking on roads nearby

Potential to extend above and behind STPP

Presenting a single storey Long Leasehold Grocery shop currently let out to a tenant for £1,000 per month until August 2018, after which the rent is to rise to £1050 per month/ £12,600 per annum.

Tenure: Long leasehold for a term of 150 years from 24th December 1993 at peppercorn rent.

The property is situated in a no through road off Southwark Park Road (A2206) which provides direct access to the A100 and A201. The surrounding area is predominately residential and consists of high density local authority flats and houses. Bermondsey underground station (Jubilee Line) is approximately 0.6 miles from the subject property and there are numerous bus stops located along Southwark Park Road providing local transport links as well as links in to Central London.

A single storey semi-detached lock-up shop unit beneath a flat roof. The property is arranged as a retail unit with ancillary accommodation to the rear. The building currently operates as a newsagents/local convenience store. Externally there is a small yard area to the rear of the property.

Ground Floor retail: 382 Sq. ft.
Ground Floor ancillary: 138 Sq. ft.
Total: 520 Sq. Ft

Please note the property is currently tenanted on a short lease/tenancy at will. The rental income is to be confirmed. The property only includes a single storey retail unit, with no parking or adjoining land for sale. The property is available on long lease only, we are not marketing the freehold interest.
The building may be suitable for development subject to planning, please consult the local council for more information.

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Floor Plan 1

IMPORTANT NOTICE

Descriptions of the property are subjective and are used in good faith as an opinion and NOT as a statement of fact. Please make further specific enquires to ensure that our descriptions are likely to match any expectations you may have of the property. We have not tested any services, systems or appliances at this property. We strongly recommend that all the information we provide be verified by you on inspection, and by your Surveyor and Conveyancer.