PRIME SOUTH BANK FREEHOLD MIXED-USE INVESTMENT OPPORTUNITY Executive Summary
Freehold
Located in the thriving South Bank district adjacent to Borough Market. London Bridge Underground and national rail station is within a 5-minute walk from the property.
Comprehensively refurbished in 2017, the property is an attractive former Victorian warehouse building providing 20,435 sq ft (1,898.5 sq m) of office and retail accommodation arranged over lower ground, ground and five upper floors. The property also comprises three residential units totalling 2,540 sq ft (235.9 sq m) GIA arranged over sixth and seventh floors.
The office accommodation is let to three tenants with two floors currently vacant. The retail accommodation is let to two tenants, Gourmet Burger Kitchen and The Clink Museum until July and June 2029 respectively.
High reversionary restaurant and museum income with well-timed rent reviews in June and July 2019.
The residential accommodation comprises three apartments, two 2-bedroom and one 1-bedroom apartments, all with external terracing, winter garden space and impressive river views. No residential sales marketing campaign has been undertaken and the accommodation is offered with vacant possession.
The total passing rent over the commercial element (including vendor rental guarantees) is £1,016,739 per annum (£49.75 per sq ft).
The let commercial accommodation has a Weighted Average Unexpired Lease Term of 7.75 years to expiries and 6.61 years to break options.
Offers are sought in excess of £22,630,000 for the freehold interest Subject to Contract and exclusive of VAT.
A purchase at this level reflects a net initial yield of 5.00% and a capital value of £931 per sq ft on the commercial accommodation assuming purchasers costs of 6.75% and also attributing £3,600,000 to the residential accommodation reflecting £1,417 per sq ft.
2 Borough Borough Cannon Street Monument Yards Market London Bridge
3 Location Monument Cannon Street
One Clink Street is located in the thriving South Bank district of London, in close proximity to Borough Market and within a 5-minute walk of London Bridge, which connects South Bank to the City of London. South Bank is rapidly SOUTHWARK BRIDGE becoming the city’s most dynamic destination LONDON BRIDGE and is home to a variety of London’s most popular tourist attractions including the London
Eye, Borough Market, Shakespeare’s Globe CLINK STREET Theatre, Tate Modern and The View from The Shard as well as amenities along the river which generate a significant footfall.
Clink Street is an attractive cobbled, pedestrianised street linking Stoney Street and London Park Street. One Clink Street is equidistant SOUTHWARK BRIDGE ROAD Bridge SOUTHWARK STREET between these two junctions and within 100 metres of Borough Market as well as Borough Yards, Meyer Bergman’s new scheme.
There has been significant investment into transforming South Bank as a preferred BOROUGH HIGH STREETSouthwark occupier destination and this has cemented the area as London’s fastest growing, and most diverse district, proven by the success of schemes such as Sea Containers House (pre-let to Oglivy & Mather), One and Two Southbank Place (pre-let to WeWork and Shell) and Borough Cooper & Southwark (pre-let to CBRE).
Southbank has seen a large influx of commercial-led development schemes including Bankside Quarter (Temasek, Native Land and Amcorp), Elizabeth House (HB Reavis). Future developments such as Colechurch House near London Bridge will further enhance and promote the area and its surrounds.
4 Connectivity Infrastructure Improvements
One Clink Street benefits from the following excellent transport connectivity: London Bridge Station, following the completion of the 5-year £1bn redevelopment project, reopened at the start of 2018.
Since work commenced in 2013, Network Rail have transformed the station as part of a ings Cross BA 15 mins 15 minutes Government sponsored Thameslink Programme, while remaining operational for the 50 million
Victoria, Northern, Piccadilly, Circle, Central, DLR, Northern passengers that use London’s oldest station each year. The station features two new entrances on Hammersmith & City and Metropolitan and Waterloo & City Tooley Street, connecting the north and south sides of the station whilst the completion of
City Airport via DLR the five new platforms has enabled Cannon Street services to resume services to London Bridge as normal.
All tracks throughout the station have been remodelled to modernise the infrastructure and Bond Street Monument increase capacity for more trains to travel through London. Throughout 2018, the station will 15 mins 11 mins benefit from new shops, cafes and leisure facilities, further fuelling the reinvigoration of the area.
Jubilee, Central and Elizabeth Line District, Circle
City Airport via DLR
Cannon Street Canary harf 13 mins 12 mins
District, Circle District, Circle, Central, Northern, Jubilee, Waterloo & City and Elizabeth Line
City Airport via DLR
Southwark London ridge 15 mins 5 mins
Jubilee Northern, Jubilee
Riverboat services
waterloo Borough 10 mins 10 mins
Bakerloo, Jubilee, Northern, Northern Waterloo & City
Not to scale. For indicative purposes only.
5 6 7 STREET QUEEN VICTORIA STREET VICTORIAMansion House QUEEN
Blackfriars
BLACKFRIARS UNDERPASS Cannon Street VICTORIA EMBANKMENT
WATERLOO BRIDGE
SOUTHWARK BRIDGE 56
STREET HOUSE BARGE 1314 67
BRO
ADW
A
LL STAMFORD STREET 910 1415
8 BLACKFRIARS ROAD 9 8 SOUTHWARK STREET 7 3 Lambeth 4
SOUTHWARK STREET London Bridge SOUTHWARK BRIDGE ROAD
5 SE1 4 1213
Waterloo East Southwark 22 Southwark 1011 11
1112 Waterloo BOROUGH HIGH STREET
WATERLOO ROAD BERMONDSEY STREET
15 Borough Not to scale. For indicative purposes only.
LONG LANE Borough Yards NEWINGTON CAUSEWAY
Designed by the award-winning practice SPPARC Architecture, the The project involves the redevelopment of former wine-tasting 197,800 sq ft Borough Yards scheme is scheduled to open in early venue Vinopolis and neighbouring sites, which front onto the 2020. In addition to commercial accommodation, Borough Yards pedestrian path linking the Tate Modern to the west with Borough will provide more than 115,600 sq ft of retail and leisure space. Market, London Bridge Station and The Shard, close by to its east. GREAT DOVER STREET
The Office Group will occupy Thames House and an adjacent AsLONDON ROADpart of the redevelopment, a new pedestrianed street, Dirty building, taking a total of 68,500 sq ft (6,360 sq m), while Lane, will create a new throughfare linking Park street and the new building will incorporate a 6,100 sq ft (570 sq m) Stoney Street. Everyman Cinema.
3
Elephant & Castle Local Developments
The South Bank is one of London’s fastest growing sub-markets and has been subject to unprecedented development activity in recent years, with a pipeline to suggest this 1. 53 GREAT SUFFOLK STREET, SE1 will continue. Supply in the SE1 postcode is • Morgan Capital Partners 2. 100 UNION STREET, SE1 3. COLECHURCH HOUSE, SE1 one of the lowest across Central London and • 30,000 sq ft of office accommodation • Lake Estates • City of London/Southwark Council developers are competing to capture this • Fully let to George P Johnson and F B Ellmers • 20,000 sq ft of office and retail accommodation • Potential for a c.200,000 sq ft+ mixed use scheme strong occupational demand. • Completed 2017 • Completed Q3 2017 • Completion 2021+
4. COOPER & SOUTHWARK, SE1 • HB Reavis 5. BANKSIDE QUARTER, SE1 6. ONE BLACKFRIARS, SE1 7. 20 BLACKFRIARS ROAD, SE1 • 70,000 sq ft of office and retail accommodation • Temasek/Native Land/Amcorp Properties • Berkeley Group • Black Pearl • 100% pre-let to CBRE’s Global Workplace Solutions division • 5.3 acre (mixed use) • 274 residential units and 121,000 sq ft Hotel • 286 residential units and 277,000 sq ft office scheme • Completed Q1 2018 • Stage 1 delivery scheduled for 2019 • Completion scheduled for 2018 • Completion scheduled for 2020+
10. THE SHELL CENTRE, SE1 8. WEDGE HOUSE, 40 BLACKFRIARS ROAD, SE1 • Almacantar 11. ONE WATERLOO (ELIZABETH HOUSE), SE1 • Ennismore 9. PARKSIDE, 185 PARK STREET, SE1 • 790 residential units • HB Reavis • 110,000 sq ft office and hotel scheme to be operated by • Delancey • 500,000 sq ft office scheme • 142 residential units and 750,000 sq ft office & retail Hoxton Hotel • 163 residential units with 22,500 sq ft of retail • 100% pre-let to Shell and WeWork scheme • Completion scheduled for H1 2018 • Completion scheduled for 2021+ • Completion scheduled for H2 2018 • Completion 2021+
12. SHARD PLACE, SE1 13. BEAR GARDENS APART-HOTEL, SE1 14. 105 SUMNER ROAD & 133 PARK STREET, SE1 15. 14-21 RUSHWORTH STREET, SE1 • Sellar Property Group • Macro Investments Limited • Land Securities • MiddleCap • 148 residential units and 19,500 sq ft of retail • 75 room hotel • 200,500 sq ft office scheme • 70,000 sq ft office scheme • Completion scheduled for Q2 2019 • Completion scheduled for H2 2018 • Completion scheduled for 2022 • Completion scheduled for 2022
9 Dating back to 1144, the property was the original site of the Clink Prison and previously used as a warehouse to store cargo arriving from the river into the former ‘Clink Wharf’.
Description
More recently One Clink Street underwent a comprehensive refurbishment by SPPARC Architects and 8 Build Limited to provide 20,435 sq ft (1,898.5 sq m) of office, retail and ancillary space over lower ground, ground and five upper floors. Of this 6,068 sq ft (563.7 sq m) comprises two retail units at ground and lower ground.
As part of the refurbishment the property was extended to include two new floors (6th and 7th), which comprise 2,540 sq ft (235.9 sq m) GIA of residential accommodation split into three apartments plus a total of 579 sq ft (53.8 sq m) of external space.
The office refurbishment is ‘stripped back to shell’ specification with exposed services that retain many original features including arches and wheels from the former Victorian warehouse. The floorplates range from 2,500 to 3,100 sq ft and benefit from good natural light.
The office and residential accommodation is accessed via the main entrance on the east side of the building on Clink Street. The restaurant is accessed via a separate entrance on the west side of the building, again off Clink Street, and provides an open plan eating area fitted-out in the contemporary style of GBK restaurants. The museum is also accessed via a stairwell off Clink Street has been fitted-out to replicate the original prison that occupied the site.
10 11 12 Office Specification
The specification of the office space can be summarised as follows:
Exposed services including contemporary lighting and new air- conditioning
Refurbishment of common parts with direct lift access to each floor
New contemporary reception
New Crittall style windows
Oak flooring (excluding first floor resin finish)
Video entry phone
8-person passenger lift providing dual access to the office and residential space
Fifth floor with south facing terrace
Demised WCs on each floor
13 Residential
The residential accommodation comprises two 2-bedroom and one 1-bedroom apartments totalling 2,540 sq ft GIA. One of the 2-bedroom apartments benefits from a 510 sq ft roof garden with 360 degree views of the City and South Bank. The other two apartments benefit from c.90 sq ft of terrace/winter garden space. All the apartments are accessed via the lift from the ground floor.
All three residential units have been finished to a high standard. The furnishings are available by separate negotiation if required.
The specification includes comfort cooling, Duravit bathrooms and bespoke finishing by award-winning SPAARC Architects.
14 Accommodation
The property has been independently measured in accordance with the RICS Code of Measuring Practice 6th Edition and International Measuring Standard IPMS 3.
Residential
Floor USE GIA sq ft GIA sq m (plus terraces) (plus terraces) Residential/ 214 19.9 7th Roof Terrace (510) (47.3) Residential/ 2,326 216 6th Terraces (69) (6.4) Total 2,540 235.9 (incl. external area) (3,119) (289.6)
Office
Floor USE NIA sq ft NIA sq m 5th Office 2,747 255.2 4th Office 3,049 283.3 3rd Office 3,045 282.9 2nd Office 3,000 278.7 1st Office 2,526 234.7 Total 14,367 1,334.8
Retail
Floor USE GIA sq ft GIA sq m Raised Grd Restaurant 2,902 269.6 Lower Grd Museum 3,166 294.1
Total 6,068 563.7
Total Commercial 20,435 1,898.5
15 Floor Plans
3rd Floor 6th Floor 3,045 sq ft (NIA) 2,326 sq ft (GIA)
Apartment 1
Apartment 2
Office
Apartment 3
Ground Floor 5th Floor 2,902 sq ft (GIA) 2,747 sq ft (NIA)
Office
GBK Restaurant
Not to scale. For indicative purposes only.
16 Tenure
The property is held Freehold and is registered at
y r HM Land Registry under title number SGL47052. t
n
a
G
S
y r Tenancy t
n
a
G One Clink Street is multi-let to three office tenants on S fully repairing and insuring terms in accordance with B AN the Tenancy Schedule set out on the following page. KS
IDE
There are two floors currently vacant. The total rent 2 passing on the office space (including vendor rental 1
f r guarantees) equates to £791,739 per annum (£55.11 a PH h Little per sq ft). W New Winchester k Wharf Je n British tty i l C Wharf W inch O The retail accommodation is let to two tenants, este ld T W r hame harf side Gourmet Burger Kitchen (part of the Nando’s Group) 1 to Inn H 14 orse (PH) and The Clink Museum for terms expiring July 2029 shoe Wh P D arf ickfo N rds and June 2029 respectively. The current total rent Hotel W E har passing for the retail accommodation is £225,000 per f K C 1 to 14 LINK N STR annum (£37.08 per sq ft). The next retail rent reviews A Victor EET B
are in July 2019 for Gourmet Burger Kitchen and June Wharf Winchester 4 2019 for The Clink Museum. 0 Palace (rems of) 2.8m
3 1 to 14 The total passing rent over the commercial 8
element (including vendor rental guarantees) is
1
£1,016,739 per annum (£49.75 per sq ft) and the 8 3
weighted average lease length on the occupied 6 3 7
1
7 o
t P 1 accommodation is 7.75 years to expiries and 6.61 6
A
R
W years to breaks. K
I
S N
T C Palace House
R H
E E
El Sub Sta S
E
The residential accommodation is offered with the T
T 3
E 9
5 benefit of vacant possession and the vendor has R
S
Q 1 deliberately not marketed the apartments for sale or U
A
R
E for lease. Play Area 7
9
3
The adjoining site and buildings outlined in Green 1
0 15 5 Winchester 1 depict Meyer Bergman’s ‘Borough Yards’ scheme 6 Stables which will comprise a 200,000 sq ft office, retail and Not to scale. For indicative purposes only. leisure scheme scheduled to open in early 2020.
17 Tenancy Schedule Office and Retail Accommodation
TENANT FLOOR SQ FT SQ M LEASE LEASE RENT BREAK RENT RENT COMMENTS START END REVIEW (£/P.A.) (£/P.A./PSF)
Private terrace. Lease is The Clearing Consultancy Limited 5 2,747 255.2 15-Nov-17 14-Nov-22 - - £178,555 £65.00 outside the Landlord & Tenant 1954 Act.
Lease is outside of the Blackburn & Co Project Services Limited 4 3,049 283.3 21-May-18 20-May-23 - - £181,416 £59.50 Landlord & Tenant 1954 Act.
Lease is outside of the Global Accounting Network Limited 3 3,045 282.9 16-May-18 15-May-28 16-May-23 16-May-23 £172,043 £56.50 Landlord & Tenant 1954 Act.
A 12 month vendor Vacant 2 3,000 278.7 - - - - £165,000 £55.00 guarantee will be provided
A 12 month vendor Vacant 1 2,526 234.7 - - - - £94,725 £37.50 guarantee will be provided.
Lease is inside the Landlord Gourmet Burger Kitchen Limited G 2,902 269.6 13-Jul-09 12-Jul-29 2019 and 2024 - £135,000 £46.52 & Tenant 1954 Act.
Lease is inside the Landlord The Clink Museum Limited LG 3,166 294.1 24-Jun-09 23-Jun-29 2019 and 2024 - £90,000 £28.43 & Tenant 1954 Act.
Office Totals 20,435 1,898.5 £1,016,739 £49.75
Residential Accommodation
UNIT FLOOR AREA GIA AREA GIA AREA COMMENTS INTERNAL EXTERNAL TOTAL (SQ FT) (SQ FT)
Apartment 1 (Vacant) 6 & 7 1,072 510 1,582 Roof terrace
Apartment 2 (Vacant) 6 822 69 891 Terrace
Apartment 3 (Vacant) 6 646 - 646
Total 2,540 579 3,119
18 Covenant Information
OFFICE
The Clearing Consultancy Limited Blackburn & Co. Project Services Limited Global Accounting Network Limited
Established in 2010, The Clearing Founded in 2010, Blackburn & Co Global Accounting Network locate Consultancy Limited is an award- provide project management and and recruit qualified accountants winning, independent brand professional consultancy advice to into industry and commerce on consultancy firmly grounded investors, developers, landlords, a permanent and interim bases. in commercial reality. The funders, pensions funds and Global Accounting Network help company aims to drive growth for occupiers across a diverse sector companies ranging from SMEs to business and consumer brands and property type. FTSE100s through understanding through visual & verbal identity, how their business works and organisational engagement and the challenges and objectives of brand experience. the company to source the talent needed to achieve them. Dun & Bradstreet provide The Clearing Consultancy Dun & Bradstreet provide Blackburn & Co. Project Services Limited with a rating of C3. Limited with a rating of A2. Dun & Bradstreet provide Global Accounting Network Limited with a rating of C2. www.theclearing.co.uk www.blackburnltd.com www.globalaccountingnetwork.net
Retail
Gourmet Burger Kitchen Limited The Clink Museum Limited
Founded in 2001, the restaurant chain now boasts 91 restaurants The Clink Museum presents the scandalous truth of Old Bankside across the UK. GBK is known for its large burgers, fresh produce and through a hands-on educational experience. The experience casual service style. provides an opportunity to view archaeological artefacts, experience the sights, sound and smells of the former prison. Dun & Bradstreet provide Gourmet Burger Kitchen Limited with a rating of 3A1. Dun & Bradstreet provide The Clink Museum Limited with a rating of F2. www.gbk.co.uk www.clink.co.uk
19
South Bank Office & Retail Market 2017 investment Vacancy rate Occupational Investment volumes up of c.3.2% The South Bank office market is one of Central London’s Total investment volumes on the South Bank peaked at around 3.5 times strongest performing submarkets. Take-up in 2017 £2.20bn in 2017, which is approximately 3.5 times up on 2016. surpassed the long term average with approximately Institutional investor interest has been driven by a strengthening on 2016 1.3m sq ft. Availability is amongst the lowest across any occupational market and lack of good quality supply. central London submarket with only 725,000 sq ft of stock available, a vacancy rate of c.3.2%. Overseas investors accounted for c.60% of investments into the South Bank in Q4 2017, a total of £266m, reinforcing the increasing £2.2bn of Excluding The Shard, which has achieved lettings in excess attractiveness of the location as a core London submarket. Prime rents of £100.00 psf, prime office rents south of the river are investment in excess of now consistently in excess of £70.00 psf, as exemplified by Q1 2018 has seen a quieter start in terms of investment volumes into the South recent lettings within the Blue Fin Building, 240 Blackfriars with c. £100m transacting and a further c. £100m available or £70.00 psf and the breakdown in rents for the upper floors at HB under offer in Q2 2018. Investor interest in the sub-market is still Bank in 2017 Reavis Cooper & Southwark Building. very strong despite a lack of available stock.
Retail Occupational Comparables
PROPERTY TENANT FLOOR SIZE RENT (£P.A.) RENT (£PSF) 59 St Thomas Street Bob’s Lobster G 1,348 £135,000 £100.15 Unit 15, Bankside Joe & The Juice G 957 £85,000 £88.82 Winchester Walk Hawksmoor G+LG 4,668 £400,000 £85.69 2 Southwark Street Leon G+LG 2,300 £280,000 £121.74
Office Occupational Comparables
PROPERTY TENANT FLOOR SIZE PSF TERM BREAK COMMENTS DATE 100 Union Street Kimble 3,574 G £65.00 5 years - Dec-17 16 Winchester Walk Howden M&A 3,575 1st £64.00 10 years 5 Aug-17 90 Union Street Planning-INC 3,969 2nd £62.50 5 years - Jul-17 The Blue Fin Building Savio Limited 6,442 12th £74.00 10 years 5 May-17 90 Union Street Sonnedix 4,805 3rd/4th £66.00 10 years 5 Private roof terrace Apr-17
Investment Comparables
AREA WAULT TO LEASE EXPIRY RENT CAP VAL COMPLETION ADDRESS (SQ FT) TENURE TENANT (Breaks) £ per sq ft PRICE £/ SQ FT IY PURCHASER DATE Multi-let to 2 tenants with the last remaining 100 Union Street, SE1 19,437 FH floor vacant 7.19 years (5.23 years) £60.37 £23,130,000 £1,190 4.75% TBC Available Confidential. Quote Palace House, £1,231 4.40% Confidential Under Offer 3 Cathedral Street, SE1 45,012 FH Single let to Kaplan Estates Limited 14.07 years (9.36 years) £57.76 £55,400,000 Multi-let to 8 tenants and 20 residential Black Bull Yard, EC1 27,336 FH apartments sold off on long leases. 7.5 years (4.2 years) £58.79 £28,670,000 £1,049 5.25% TBC Under Offer 45 Folgate Street, E1 20,714 FH Multi-let to 5 office tenants 7.2 years (6.0 years) £59.31 £26,500,000 £1,279 4.34% Private Spanish Investor Mar-18 Instrument House, 207 Kings Cross Road, WC1 12,235 FH Multi-let to 5 office tenants 5.60 years (3.5 years) £61.94 £15,000,000 £1,226 4.73% Private Hong Kong Investor Dec-17 St Michael’s House, 1 George Yard, EC2 19,784 FH Multi-let to 6 office tenants with 2 vacant floors 5.10 years (3.10 years) £55.00 £22,850,000 £1,155 4.50% Al Ain Dec-17 South Bank Residential Market Commentary
The South Bank is a diverse borough with plenty to offer its residents.
In recent years this exciting part of London has changed dramatically and now accommodates an eclectic mix of homes and workspaces attractive to a wide target market. The borough has witnessed over a 50% increase in house prices in the last 5 years. This growth has been buoyed by significant investment into the new mixed-use and residential developments along the South Bank, most of which benefit from river views.
Schemes such at Neo Bankside, 1 Tower Bridge, and One Blackfriars have improved the quality of housing stock and also helped invigorate the retail offering at street level. Nearby tourist attractions reinforce the area’s rich cultural offering including Borough Market, Bankside and the Tate Modern.
One Clink Street offers unique high quality residential accommodation with outdoor space and river views.
The table below shows some recent residential sales in the locality:
ADDRESS TYPE (FLOOR) BEDS TENURE SALE DATE SALE PRICE (PSF) AREA COMMENTS -2 bathroom Tudor House, Duchess Walk 7th 2 VFH May - 2018 £1,550,000 (£1,508) 1,028 -terrace -2 bathroom 74 Balmoral House, Earls Way 8th 2 VFH Dec - 2017 £1,300,000 (£1,461) 890 -terrace -1 bathroom B803 Neo Bankside, 60 Holland Street 8th 1 VFH Apr - 2018 £750,000 (£1,423) 527 -no terrace 22 Tudor House, Duchess Walk 6th 1 VFH Apr - 2018 £820,000 (£1,544) 531 -small terrace
The table below shows the rents achieved on properties in the locality:
ADDRESS FLOOR(S) BED(S) AREA (SQ. FT.) DATE RENT (PCM) RENT (PA) COMMENTS Available -early 2000’s development Horseshoe Wharf, 6 Clink Street 4th 2 1,066 (May - 18) £3,250 £37,440 -waterfront views -new build development 40 Chatsworth Street, Duchess Walk, One Tower Bridge 5th 2 1,025 Feb-18 £3,900 £46,800 -2 terraces -2 bathrooms 48 Benbow House, 24 New Globe Walk 6th 2 836 Sep-17 £3,558 £39,138 -terrace -new build development 82 Balmoral House, Earls Way 9th 1 634 Nov-17 £3,033 £36,396 -terrace
South Bank Place, Cassidy Square One Blackfriars South Bank Place, Belvedere Gardens One Tower Bridge Neo Bankside
21 Planning
The property is located in The London Borough of Southwark. It is not listed, but is situated within Borough Market conservation area.
VAT
The property is elected for VAT. It is anticipated that the transaction will be treated as a Transfer of a Going Concern.
EPC
Copies of the EPCs are available on the data room.
Data Room
Further information can be found on the online data room. Please contact the vendor’s agents to request access. Proposal
Capital Allowances Offers are sought in excess of £22,630,000 for the freehold interest Subject to Contract and exclusive of VAT.
Capital Allowances may be made available to the purchaser A purchase at this level reflects a net initial yield of 5.00% and a capital value of £931 per sq ft by seperate negotiations. Further information can be made on the commercial accommodation assuming purchasers costs of 6.75% and attributing available on request. £3,600,000 to the residential accommodation reflecting £1,417 per sq ft.
22 Contact Nick Pemberton Chris Room Chris James 020 7543 6775 020 7588 4433 020 7588 4433 [email protected] [email protected] [email protected]
DISCLAIMER: Allsop LLP on its behalf and for the Vendors or Lessors of this property, whose Agents they are, give notice that: These particulars are set out as a general outline only for guidance to intending Purchasers or Lessees, and do not constitute any part of an offer or contract. Details are given without any responsibility and any intending Purchasers, Lessees or Third Parties should not rely on them as statements or representations of fact, but must satisfy themselves by inspection or otherwise as to the correctness of each of them. No person in the employment of Allsop LLP has any authority to make any representation or warranty whatsoever in relation to this property. Unless otherwise stated, all prices and rents are quoted exclusive of VAT. June 2018
23 Funded by: Developed by: