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188 Tooley Street, London Bridge SE1 2TZ 188 Tooley Street, London Bridge SE1 2TZ Landmark mixed-use freehold for sale, with planning permission approved SUMMARY Rare opportunity to acquire a mixed-use freehold The property will appeal to a range of parties, including building, prominently located along Tooley Street developers, investors, leisure operators and overseas in the thriving SE1 market investors given rare opportunity to own a prominent site in London Bridge Subject property is laid out over 4 floors comprising a retail unit over ground and basement and a self- Property offers opportunity for buyer to apply for a contained residential unit over first and second floors new application which with the correct design and consultancy team could result in much improved The building currently has planning permission in planning permission STPP place to extend the existing building and add more floor space via a rear extension We are inviting offers in excess of £2,000,000 for the freehold interest, with the building being offered with vacant possession and an approved planning permission DESCRIPTION LOCATION The subject property is ideally located along Tooley The property is located on Tooley Street, just 0.3 Street, which is arguably one of London Bridge’s most miles from London Bridge’s newly developed train prominent streets. This freehold building is currently station which is also on the same street. The site is laid out over four storeys (basement-second floors). nestled along the south bank of the River Thames The basement and ground floor are in use as anA1 with iconic landmarks surrounding it. Directly opposite convenience store with floor area combining to total is the new Berkley Homes ‘One Tower Bridge’ c.753sqft. The upper parts currently comprise a development of 402 apartments, where premium flats self-contained 3-bed apartment located over first and have been selling for over £3,000psf. Also, opposite, second floors. This accommodation totalsc.829sqft and the impressive St Olave’s listed building has been can be accessed from the rear of the property via Druid converted into a 70-bedroom boutique hotel ‘The Street. The total existing floor area equals1,582sqft. LaLit London’ by Bharat Hotels; who are the fastest Note, interested parties are to satisfy themselves on growing privately owned Indian hotel group. Potters exact floor areas. Fields Park is also opposite providing a direct walk to the River Thames. The property benefits from arecently approved planning application with Southwark Council under Also, within half a mile of the site are several other reference 18/AP/044. The application permits major destinations including the Shard (Europe’s ‘construction of a part ground, first and second floor tallest building), More London (high density office rear extension’, which adds an additional 549sqft of development) which is houses major corporations C3 residential accommodation. In addition, the property including PWC, Ernst & Young and City Hall. The benefits from atelecoms contract (signal booster property also provides easy access to high class leisure located in basement) which produces £6,800pax. offerings, most notably with Michelin star ‘Restaurant Further information including floor plans and the telecoms Story’ opposite, along with the popular Ivy Café. contract is available upon request. PROPERTY ADDRESS 188 Tooley Street, London Bridge SE1 2TZ POTENTIAL The property is likely to appeal to a range of purchasers given the extreme rarity of standalone freehold properties coming to the market. We believe local and overseas investors and developers will find the site attractive given its location to such high quality real estate. In addition, leisure operators could take a keen interest with the potential to convert the whole into a boutique restaurant/bar given the concentrated footfall and residents in the area. There is also an obvious opportunity for a buyer to review the planning and submit for an improved and more comprehensive scheme using their own team of consultants. There are a number of avenues available for a purchaser to move this site forward. If the current approved planning was implemented, the whole could be extended and refurbished which would leave a new c.1,378sqft 3-bedroom apartment over ground, first and second floors. At basement and ground you would have 753sqfta A1 retail unit. We believe both elements could be rented together or separately to create c.£72,800pax. TERMS We are inviting offers in excess of £2,000,000 for the freehold interest. The property will be sold with the benefit ofvacant possession and the existing income from the telecoms contract. Rear view of the property from Druid Street Image showing the Lalit London Hotel and Berkeley One Tower Bridge directly opposite Enlarged map showing prominent location of subject unit 33 Queen Street London EC4R 1AP +44 (0) 207 299 4230 [email protected] www.henshallandpartners.co.uk Important Notice: Particulars: 1. These particulars are not an offer or contract, nor part of one. You should not rely on statements by Henshall & Partners in the particulars or by word of mouth or in writing (“in- formation”) as being factually accurate about the property, its condition or its value. Neither Henshall & Partners Ltd nor any joint agent has any authority to make any representations about the property, and accordingly any information given is entirely without responsibility on the part of the agents, seller(s) or lessor(s). 2. Photos etc: The photographs show only certain parts of the property as they appeared at the time they were taken. Areas, measurements and distances given are approximate only. 3. Regulations etc: Any reference to alterations to, or use of, any part of the property does not mean that any necessary planning, building regulations or other consent has been obtained. A buyer or lessee must find out by inspection or in other ways that these matters have been properly dealt with and that all information is correct. 4. VAT: The VAT position relating to the property may change without notice. Henshall and Partners Ltd (Reg No:10712199). Registered address: Onega, 112 Main Road, Sidcup DA14 6NE..
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