Baden Place 1
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BADEN PLACE 1 BADEN PLACE CROSBY ROW | LONDON SE1 1YW REVERSIONARY FREEHOLD MULTI LET OFFICE INVESTMENT BADEN PLACE 2 INVESTMENT SUMMARY: Freehold. Courtyard complex of 13 office units located on the west side of Crosby Row within a 3 minute walk of both London Bridge and Borough Underground stations. Constructed in the 1980’s to provide character studio accommodation extending to 25,332 sq ft over ground and three upper floors with six car parking spaces at ground floor level. Multi-let to 9 tenants over 13 units. The property has an average weighted unexpired lease term of 3.1 years to expiry. Potential to increase net lettable floor area, subject to planning through extension, reconfiguration and infilling of courtyard. Current passing rent of £1,254,014 per annum, which equates to an average rent of £48.38 psf. Excellent opportunity for investors to capitalise on strong rental growth supported by occupational demand. Potential change of use to residential, subject to planning. Offers are sought in excess of£22,500,000 (Twenty two million, five hundred thousand pounds), subject to contract and exclusive of VAT. A purchase at this level reflects anet initial yield of 5.22%, a capital value of £888 psf, and an attractive reversionary yield of 6.00% assuming standard purchase costs of 6.75%. BADEN PLACE 3 LOCATION: LOCAL OCCUPIERS ATTRACTIONS Baden Place occupies a courtyard site on the west of Crosby Row, which links Long Consequently, an increasingly wide and Southbank is also a popular cultural destination for tourists. It hosts diverse occupier market is being attracted some of London’s most iconic tourist attractions including Tate Lane with Guy’s Hospital campus to the north. The property is located within a three to the area including: Modern Art, The South Bank Centre, Royal Festival Hall, and the minute walk of Borough High Street, the principal thoroughfare linking the City and National Theatre. The Hayward Gallery, the Imax Cinema, the Globe, London Bridge to the north, with Elephant and Castle to the south. News International and the Old and New Vic Theatres are also in close proximity. The Financial Times London Theatre Company is set to open London’s first new major Baden Place is located in London’s vibrant South Bank in close proximity to Borough Underground Station and theatre in 40 years in 2017 at One Tower Bridge. EY London Bridge Underground and mainline rail services. This unique area is undergoing a sustained period of transformation with many new developments and attractions moving into one of the oldest parts of London. PWC RESIDENTIAL As a result of this investment and regeneration, the area is now recognised as a cosmopolitan working Transport for London Several prime residential developments have recently completed or are under construction in the area. These include NEO Bankside by environment which has attracted multiple major corporations whilst fast becoming the location of choice for the Omnicom media sector. The area offers employees proximity to Southwark and London Bridge which benefit from a wide Native Land, Union Square by Mount Anvil, Berkeley Group’s One variety of cultural and leisure amenities as well as excellent communication links. Oglivy and Mather Tower Bridge and One Blackfriars, and Taylor Wimpey’s Music Box on Union Street. Thomson Reuters We Work Time Inc BADEN PLACE 4 CANNON BOROUGH BOROUGH 20 FENCHURCH THE GUYS & ST LONDON MORE GLA TOWER STREET MARKET STREET BADEN SHARD THOMAS’ BRIDGE LONDON BUILDING BRIDGE PLACE HOSPITAL S ANGEL HE KINGS CROSS P HE RD E ST PANCRAS S S W D O C AL IT A Y R R K OA D T S A E G O S G W R A E BA Y L T ’ L E E S T R S T D L R H O I N T O EE F R ST N T A S A A L R IV D R C R R R O I S PE N K E G T I N G N T R A E R S E E D E D T O A E T N S R OLD STREET E T R A T O T S S E A T E E D H E E E T R R L E O N A R D S T R J N G U T O I S N S H T T H E R E E N R E D E T V S L E H B D A A L T C C O U O A T Y S N I R R T H D RN E R Y E I E L B T E R I B T E E L A O C E S T G R T SHOREDITH CH E O O O S S R R W HIGH STREET W T D S OA E R E L L W K E N L R L L E C L U R A HAC O P GROUNDS A D G R A Y FINSBUR Y ’ S F SQU ARE CH A IS D W E A I L L R S O N T RE R A ET R ’ S N D L L I N A R FARRINGDON D E B BARBICAN O G T E O E A H A D R T G GRAY’SD O S G R INN N A O R T O BROADGATE O E M A S D T SMITHFIELD R MARKET E E T FINSBURY CIRCUS E LIVERPOOL T LO N D O N WA L L MOORGA TE A STREET G S H O P F L A B O O R H R N S R V LO I I A N I D DO B N U N C W T A G L L BADEN PLACE D N GUILDHALL O E W N G A 5 T E S CENTRAL ALDGATE S T T R E R CRIMINAL EAST E TOWER T E COURT E 42 T 30 ST ALDGATE CITY THAMESLINK ST PAULS MARY AXE ROYAL COURTS BANK OF OF JUSTICE ST PAUL’S T B S E N ENGLAND V KS I R E S COMMUNICATIONS: CATHEDRAL H A M W C R B U R LLOYD’S H The property has excellent communication links. I BANK L C D OM BUILDING E G B T London Bridge Underground and mainline station A C E E MANSION HOUSE RD A E R S R ST T M S and Borough station are within a few hundred T R G E H I N R ET C E R O metres. U E H R C N T E F I E FENCHURCH S STREET BLACKFRIARS The South Bank connections provide easy access N T E B K M B A N L to the City,E MWest End and Canary Wharf. A CANNON STREET I A O R U P TOWER GATEWAY T P C C V I E R T K H MONUMENT A M F E S E S R T R E G E I T TOWER HILL LONDON BRIDGE A D I R R S Situated approximately 300 metres to the north of Baden Place, TH A M E S S T R E E T B R E B W K O this station provides access to both the Jubilee and Northern lines. R L R I The over ground station offers rail services to south London, Kent D A G W E and Sussex. A E H S T D T L D G E S M I E I THE TOWER I T H F U THE GLOBE R O OF LONDON B BOROUGH CHARING CROSS THEATRE S N TATE MODERN ST KATHARINE Situated approximately 300 metres to the west of the property this O ART GALLERY D DOCKS station provides access to the Northern line. N B L LO A C K LONDON F SOUTHWARK WATERLOO R CATHEDRAL E I G A 4 minutes BOROUGH D R I S MARKET MORE BR R GREEN PARK OA LONDON ER 6 minutes D W GLA O T T O T E O u BUILDING E L LONDON BRIDGE E R Y T S S T R 3 minutes E H E G T I H S GUY’S AND T WATERLOO H T H G O SOUTHWARK ST THOMAS’ EAST U M AS O HOSPITAL ST R 11 minutes RE O B E BADEN PLACE T London Bridge station refurbishment B CANARY E RM WHARF BOROUGH O 6 minut es JOURNEY TIMES FROM LONDON BRIDGE (MINUTES): u N D 3 minutes S L E O N Y NORTHERN LINE: G L S D A N WITHIN 3 TR MINUTES E A 2 5 6 11 O E R ET ROTHERHITHE E LONDON BANK MOORGATE OLD KING’S G WALK OF THE BRIDGE STREET CROSS R DG E A RI T B J A D JUBILEE AND M R JUBILEE LINE: O A E I C V A W R E O A 8 6 4 3 6 R O D T S NORTHERN LINES T BOND GREEN WESTMINSTER WATERLOO LONDON CANARY R BERMONDSEY Not to scale. Indicative only E STREET PARK BRIDGE WHARF E T ELEPHANT & CASTLE 13 minutes BOROUGH LONDON ROYAL GUYS & ST SCIENCE TATE LONDON VINOPOLIS BOROUGH MORE CANNON HMS WATERLOO FESTIVAL THOMAS’ GALLERY MODERN BRIDGE MARKET LONDON STREET BELFAST HALL HOSPITAL LONDON BADEN PLACE SITUATION: FUTURE DEVELOPMENT London Bridge is currently undergoing a £500 million refurbishment to increase capacity which is due to complete in January 2018.