Unit a Borough Place 16-18 Marshalsea Road London Se1 1Hl
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UNIT A BOROUGH PLACE 16-18 MARSHALSEA ROAD LONDON SE1 1HL COMMERCIAL INVESTMENT OPPORTUNITY Unit A, Borough Place, 16-18 Marshalsea Road, 2. London SE1 1HL EXECUTIVE SUMMARY • Opportunity to acquire a London commercial investment. • Located in the dynamic Southbank area of London less than 5 minutes-walk from Borough Market and London Bridge Underground Station. • Situated in a highly prominent position fronting Marshalsea Road within 400ft of Borough High Street & Borough Underground Station (Northern Line). • Long leasehold for 999 years from completion. • Ground floor comprising 1,310 sq ft (121.7 sq m). • Unit benefiting from flexible use classes including A1, A2 & D2. • Currently let to a martial arts studio for a term of 5 years from September 2017 with a mutual break option from September 2020, providing an unexpired term certain of 1.75 years. • Producing £50,000 per annum (£38.17 per sq ft). • We are instructed to seek offers in the region of £950,000 (Nine hundred and fifty thousand pounds), subject to contract. • This reflects aNet Initial Yield of 5.0%, based on purchasers’ costs of 5.69%, and a Capital Value of £725 per sq ft. • Freehold available by separate negotiation to include ground rent income of 9 residential units and a further commercial unit. Shading for indicative purposes only Unit A, Borough Place, 16-18 Marshalsea Road, 3. London SE1 1HL Unit A, Borough Place, 16-18 Marshalsea Road, 4. London SE1 1HL LOCATION Culture & Tourism The Southbank is one of London’s most vibrant areas which has benefitted The Southbank is home to some of London’s most iconic cultural attractions, from significant investment and regeneration and is experiencing major including the world-famous London Eye, the Tate Modern museum, the growth. The capacity and improvement works to London Bridge Station National Theatre, the Royal Festival Hall, Shakespeare’s Globe and The together with the construction of The Shard have become a catalyst for London Dungeon. additional development. Education & Medicine Given the Southbank’s existing cultural and leisure attractions, the improvements in infrastructure have helped to attract multinational The area is well-established for its educational heritage, with the nearby corporates and companies from a diverse cross-section of industries Guy’s and St Thomas’ Hospital providing world class medical training as including telecoms, media & technology, professional services, banking, well as King’s College London basing its School of Medicine to the north the public sector and co-working offices. The Southbank has become a east of the property. The Southbank is also the location of the Southwark well balanced mix of business, leisure and residential uses as well as an Campus for the London South Bank University. unrivalled cultural and tourist destination. Food & Dining Borough Market is located less than 5 minutes’ walk from the subject property. Borough Market is London’s oldest food market and is integral to the Southbank’s cultural history. The market today comprises independent shops, fresh food market stalls and restaurants offering a variety of produce from across the world, reflecting London’s position as a cosmopolitan global city. As well as Borough Market, the location has seen a growth in new restaurant offerings. A further new addition is Flat Iron Square, located immediately north of the property. Launched in 2016, the destination covers 3,716 sq m / 40,000 sq ft encompassing seven railway arches and the Grade II listed building of Devonshire House, and offers an eclectic variety of bars, restaurants, pop-up food vendors, live music and a vintage market. Unit A, Borough Place, 16-18 Marshalsea Road, 5. London SE1 1HL TRANSPORTATION The Southbank benefits from four London Underground lines along with London Bridge Bond Street National Rail Services and City Thameslink from London Bridge and Blackfriars 1 minute 17 minutes respectively. 5 minutes 31 minutes 8 minutes 45 minutes London Bridge Station Redevelopment London Bridge Station is currently the fourth busiest station in the UK, serving Waterloo Kings Cross some 54 million passengers a year. Officially reopened by HRH Prince William, 8 minutes 12 minutes 25 minutes The Duke of Cambridge, in May 2018 the station has undergone substantial 9 minutes 14 minutes 41 minutes improvement works costing £1 billion. The redevelopmentConnectivity includes a new concourse connecting all fifteen platforms, five new platforms allowing services from Cannon Street to stop at the station, St Paul’s Holborn The Southbank benefits from four London Underground lines along with National Rail UNIT A completely remodelled tracks to improve train capacity and two new entrances. Services and City Thameslink from London Bridge and Blackfriars respectively. 11 minutes BOROUGH PLACE 15 minutes The station also features new retail and leisure facilities, improving the travel 25 minutes London Bridge Station Redevelopment 18 minutes experience. 41 minutes 16-18 MARSHALSEA ROAD 31 minutes London Bridge Station is currently the fourth busiest station in the UK, serving some LONDON SE1 1HL 54 million passengers a year. Officially reopened by HRH Prince William, The Duke of Cambridge, in May 2018 the station has undergone substantial improvement works London Bridgecosting £1 billion.Station - Thameslink Programme The redevelopment includes a new concourse connecting all fifteen platforms, five new platforms allowing services from Cannon Street to stop at the station, completely Bank Farringdon The London Bridgeremodelled redevelopment tracks to improve is situated train capacity within and two a newbroader entrances. infrastructure The station also 3 minutes 15 minutes investment programmefeatures newfor retailthe and capital leisure facilities,in the improvingThameslink the travel Programme. experience. This aims 10 minutes 14 minutes to improve north-southLondon Bridgeconnectivity Station - Thameslink in the capitalProgramme by introducing improved 16 minutes 25 minutes connections beyondThe LondonCentral Bridge London, redevelopment upgrading is situated stationswithin a broader and infrastructure their platforms, investment as well as providing aprogramme fleet of forlonger the capital trains. in the Thameslink Programme. This aims to improve north- south connectivity in the capital by introducing improved connections beyond Central London, upgrading stations and their platforms, as well as providing a fleet of longer The Thameslink networktrains. will link London Bridge and Blackfriars stations Liverpool Street Canary Wharf with Farringdon, whereThe Thameslink a new network connection will link London will Bridge give and access Blackfriars to stationsElizabeth with Farringdon, Line 10 minutes 13 minutes where a new connection will give access to Elizabeth Line (Crossrail) services at the (Crossrail) services at the station. Thameslink will therefore be able to offer 17 minutes 36 minutes station. Thameslink will therefore be able to offer passengers connections to London’s 20 minutes 1 hr 2 mins passengers connectionsGatwick and to Luton London’s airports, asGatwick well as King’s and Cross Luton St Pancras airports, International as Station.well as King’s Cross St Pancras International Station. 222 & 224 Borough High Street, London SE1 1JX 5 Unit A, Borough Place, 16-18 Marshalsea Road, 6. London SE1 1HL KEY 15. CULTURE, LEISURE & AMENTIES 14. KEY 1. BOROUGH PLACE (Subject Property) 2. BOROUGH MARKET t CULTURE, LEISURE & AMENTIES 3. TATE MODERN 1. PRET A MANGER (Subject Property) 4. SHANGRI-LA HOTEL 2. BOROUGH MARKET 5. FLAT IRON SQUARE 3. TATE MODERN 16. 6. THE HOP EXCHANGE 18. 4. 7. SHANGRI-LAGUYS HOTEL & ST THOMAS HOSPITAL 17. 5. 8. FLAT IRONNATIONAL SQUARE THEATRE 6. 9. THE HOPJOE’S EXCHANGE KITCHEN 7. 10.GUYS & THEST THOMAS SHARD HOSPITAL 8. NATIONAL THEATRE 15. 11. TATE MODERN 14. 9. JOE’S KITCHEN 9. 12. CITIZEN M 8. 11. 10. 13.THE SHARDHIXTER 8. 11. 14.TATE MODERNTHE ROYAL EXCHANGE 12. 15. CITIZEN BANK M OF ENGLAND 13. HIXTER 2. 14. THE ROYAL EXCHANGE 1. 15. BANK OF ENGLAND 10. 6. 12. 12. 3. 2. OFFICE OCCUPIERS 13. 3. t OFFICE OCCUPIERS 5. 5. 4. 1. 1. MORE LONDONMORE LONDON 2. 2. GLA BUILDINGGLA BUILDING 7. 3. 3. FT FT 13. 4. 4.THE OFFICETHE GROUP OFFICE GROUP 6. 7. 5. 5. BRANDNATIONBRANDNATION 1. 6. 6. REFORMREFORM ARCHITECTS ARCHITECTS 4. 9. 7. 7. PARKOPEDIAPARKOPEDIA 8. 8. WPP WPP BOROUGH PLACE 9. OFCOM 11. 1. 9. OFCOM 10. 10.ETC VENUES,ETC VENUES, PROSPERO PROSPEROHOUSE HOUSE 10. 11. 11.VINEYARD VINEYARD STUDIOS STUDIOS 12. NEWS UK 12. NEWS UK 13. TFL 13. TFL 14. ITV 14. ITV 15. WEWORK 15. WEWORK 16. M&G 16. 17. M&G MAN GROUP 17. 18.MAN GROUPNOMURA 18. NOMURA 222 & 224 Borough High Street, London SE1 1JX 6 Unit A, Borough Place, 16-18 Marshalsea Road, 7. London SE1 1HL SITUATION SITUATION The property is well located onThe the property western is well side located of Borough on the northern In addition, side of SouthbankMarshalsea Road,has some less than of thea 1 minutestrongest walk office to Borough market High Street, adjacent to Borough Underground Station and the dynamics in Central London. Office vacancy rates are currently High Street Underground Station (Northern Line) and a 5 minute walk to London Bridge Underground Station intersection of Borough High Street, Marshalsea Road and Great running at circa 3% with an exceptional occupier base from a diverse Dover Street. (Jubilee & Northern Line). range of industries. Office occupiers in the immediate vicinity include News UK, FT, PwC, WeWork, The Office Group, Omnicom, Its situation on Borough High Street ideally positions the property Its situation on Marshalsea Road ideallyTime positions Inc. andthe TfL.property In addition, along a approximately key arterial route, 69,677 within sq closem / 750,000 proximity along a key arterial route, within close proximity to multiple transport sq ft of new office developments are in the pipeline which are links. The first class connectivityto multipleplaces the transport property links. within The firstclose class connectivity places the property within close reach of the City, West majority pre-let.