150-152 Long Lane

LONDON BRIDGE SE1 4BS

FREEHOLD MIXED use DEVELOPMENT / INVESTMENT OPPORTUNITY

FOR SALE LONG LANE SE1 HOME SUMMARY DESCRIPTION & LOCATION AERIAL PLANNING & DEVELOPMENT POTENTIAL TERMS CONTACT

Summary

• 3-storey office building extending to approximately 5,943ft2 NIA with an adjacent car park, occupying a 0.12 acre site

• Planning permission for a part conversion / part new build development to provide 7 residential units (6 x 2 bed and 1 x 3 bed) totalling 6,738ft2 whilst retaining 7,685ft2 of office space (14,423ft² NIA in total)

• Highly sought-after location in close proximity to London Bridge, the South Bank and Borough Underground Station (Northern Line)

• Unconditional offers invited in excess of £7,000,000 for the vacant freehold interest LONG LANE SE1 HOME SUMMARY DESCRIPTION & LOCATION AERIAL PLANNING & DEVELOPMENT POTENTIAL TERMS CONTACT

DESCRIPTION LOCATION

The property comprises a purpose-built office building (Use Class B1) The property is located on the southern side of Long Lane (A2198) originally constructed in the 1970’s with an adjacent car park. which connects Borough High Street and Tower Bridge Road. The Local Authority is the London Borough of Southwark. The existing accommodation is arranged over ground, 1st and 2nd floors and extends to approximately 5,943ft2 (552m2) NIA exclusive of The immediate area consists of predominately residential uses with some plant areas, staircases and partition walls. The building adjoins 146 and local amenities based on Long Lane itself, although more substantial 148 Long Lane which are a pair of Grade II Listed Georgian houses. commercial offerings are available on Borough High Street (including Borough Market) which is a short walking distance from the property. The car park area extends to approximately 2,211ft² (205m²) and is accessed directly from Long Lane. The nearest London Underground station is Borough (Northern Line) which is situated circa 0.3 miles to the west of the property. London Bridge Station (Northern Line / Jubilee Line & National Rail services) is located approximately 0.5 miles to the north of the site. Journey Times include:

Undergound (Borough): Elephant and Castle 1 minute Bank 4 minutes King’s Cross St. Pancras 13 minutes Mainline (London Bridge): East Croydon 16 minutes Sevenoaks 28 minutes Dartford 40 minutes Undergound (London Bridge): Canary Wharf 6 minutes Bond Street 8 minutes Stratford 18 minutes

LONG LANE SE1 HOME SUMMARY DESCRIPTION & LOCATION AERIAL PLANNING & DEVELOPMENT POTENTIAL TERMS CONTACT

LOCATION MAP OS MAP

South Bank London Bridge

Waterloo

150-152 Long Lane LONG LANE SE1 HOME SUMMARY DESCRIPTION & LOCATION AERIAL PLANNING & DEVELOPMENT POTENTIAL TERMS CONTACT

WATERLOO

BOROUGH

150-152 LONG LANE LONDON BRIDGE LONG LANE SE1 HOME SUMMARY DESCRIPTION & LOCATION AERIAL PLANNING & DEVELOPMENT POTENTIAL TERMS CONTACT

EXISTING ACCOMMODATION SCHEDULE PLANNING & DEVELOPMENT POTENTIAL Address Floor Description NIA ft2 NIA m2 GIA ft2 GIA m2 We understand that the existing building benefits from B1 Use Class, having Ground 1,965 182 2,465 229 been used as offices for numerous years. 152 B1 Office Long First Space 2,000 185 2,465 229 Planning permission was granted on 7th December 2016, under reference 16/ Lane Second 1,977 183 2,465 229 AP/3442, for change of use of the 2nd floor of the existing office building to Total 5,943 550 7,395 687 residential, along with a single storey roof extension and the construction of a new 4 storey building on the car park to provide 7 self-contained PROPOSED ACCOMMODATION SCHEDULE apartments (6 x 2 bedroom and 1 x 3 bedroom units) whilst retaining approximately 7,685ft² (714m²) of B1 office space across the ground and 1st 2 2 floors. Unit Floor Description NIA ft NIA m Commercial The planning consent is not subject to any Section 106 obligations. We Office 1 Ground B1 Office Unit 3,627 337 understand that there is a Mayoral CIL liability of £37,291 and a Southwark CIL liability £104,923. Office 2 First B1 Office Unit 4,058 377 Commercial Sub total 7,685 714 The online planning application can be found here. Residential 1 2 2 Bedroom Apartment 969 90 2 2 2 Bedroom Apartment 893 83 3 2 2 Bedroom Apartment 893 83 4 2 2 Bedroom Apartment 893 83 5 3 2 Bedroom Apartment 904 84 6 3 2 Bedroom Apartment 904 84 7 3 3 Bedroom Apartment 1,281 119 Residential Sub Total 6,738 626 Grand Total 14,423 1,340 LONG LANE SE1 HOME SUMMARY DESCRIPTION & LOCATION AERIAL PLANNING & DEVELOPMENT POTENTIAL TERMS CONTACT

TENURE

The property will be sold freehold and subject to vacant possession on completion.

TERMS

Unconditional offers in excess of £7,000,000 are invited.

VAT

We understand that the property is elected for VAT and will be charged on the sale.

ADDITIONAL INFORMATION

Further information such as approved planning documents can be found in our DATAROOM using the password LONGLANE. LONG LANE SE1 HOME SUMMARY DESCRIPTION & LOCATION AERIAL PLANNING & DEVELOPMENT POTENTIAL TERMS CONTACT

contact

To discuss any aspect of this property or the disposal process, or to arrange an internal inspection, please contact the Seller’s joint sole agents:

Keir Goldstein Donald Walsh 020 7183 2529 020 7403 0600 [email protected] [email protected]

Jordan Oldfield www.kalmars.com 020 7183 2529 [email protected]