24-50 Ossory Road
Bermondsey, SE1 5AN
A rare opportunity to acquire an ultra-prime modern single let trade counter/industrial warehouse in a central London location.
- Well located in the London Borough of Southwark, approximately 3 miles south of Central London.
- Conveniently located c. 0.9 miles from South Bermondsey Railway Station and 1.5 miles to Elephant & Castle Underground and National Rail stations (Northern Line & Bakerloo Line and Thameslink).
- The premises is configured as two industrial units utilised by a single tenant, totalling 22,991 sq ft GIA.
- The site is fully let to Rexel UK Limited, representing a ‘minimum risk of business failure (4A1).
- Currently producing a very low passing rent of £307,800 per annum equating to £13.39 per sq ft.
- Estimated Rental Value in excess of £20 per sq ft in its current layout. Opportunity for further growth subject to reconfiguration into two industrial units.
- 1.5 years to first break and 9.5 years to expiry.
- Potential residential redevelopment opportunity, subject to obtaining consents.
We are instructed to seek offers in excess of £8,875,000 (Eight Million, Eight Hundred and Seventy Five Thousand Pounds) subject to contract and exclusive of VAT, which reflects a capital value of £386 per sq ft and a Net Initial Yield of 3.25%, assuming purchaser’s costs of 6.68%.