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74-84 Long Lane, Bermondsey, London SE1 4AU

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74-84 Long Lane, Bermondsey, London SE1 4AU KALMARS Logos - Residential & Commercial plus details_Mono Colours Black - CMYK Split - (0,0,0,100) White - CMYK Split - (0,0,0,0) 74-84 Long Lane, Bermondsey, London SE1 4AU Investment / Development Opportunity RESIDENTIAL COMMERCIAL RESIDENTIAL COMMERCIAL 2 Shad Thames, SE1 2 Shad Thames, SE1 020 7407 9770 020 7403 0600 www.kalmars.com www.kalmars.com 74-84 Long Lane, Bermondsey, London SE1 4AU Summary • Freehold office / warehouse building in a prime Bermondsey location. 74-84 • The amenities of Borough High Street and the bars and restaurants of Bermondsey Street Long Lane are within close proximity. Borough Underground Station is located approximately 400m to the west. • The Property, currently in office and warehouse use is arranged over 3 storeys, extending to a Gross Internal Area (GIA) of approximately 2,554 sq m (27,501 sq ft) and a Net Internal Area of 2,084 sq m (22,436 sq ft) of which, excluding ancillary space, 11,247 sq ft is offices and 10,378 sq ft storage. • The building is let to 9 tenants on leases producing £241,587 pa. On granting the sale our clients propose to take a leaseback on the approximately 18,800 sq ft they occupy. • Opportunity for refurbishment or new build redevelopment including residential uses, subject to the necessary consents. ow R y sb 85 ro Location Description 87 C The property occupies a prominent location on The property comprises a brick building arranged the corner of Long Lane, Pilgrimage Street and over basement, ground and 3 upper levels set Southall Place in Bermondsey covering a plot behind a green glazed brick facade fronting Long area of approximately 0.26 acres (0.106 HA) or lane, flanked by a 3 storey modern extension to approximately 11,325 sq ft. the rear. The front section of the of the Ground floor is used as offices and the rear section and The amenities of Borough High Street and the basement as a warehouse for the storage and et restaurants of Bermondsey Street are within close e distribution of rugs. The upper floors are let as tr proximity. Increasingly the area is becoming noted S offices to 7 tenants. e for fashionable residential living with a number Area : 0.261 acres (0.106 ha) imag of new high profile residential schemes under To the West the property borders a pedestrian 74 r -84 g il construction. The White Cube Gallery is less than lane which is adjacent to Empire House, a P 800 metres to the south east of the site. residential scheme including a 23 storey tower completed by the Berkeley Group in 2006. To the The property is well served by pubic transport east Pilgrimage Street forms the eastern boundary with London Bridge Station (National Rail services, along which are properties in a mixture of office, Northern & Jubilee Line Underground services) 14 retail and residential use. Retail located approximately 500m to the north. Borough 16 rt u o C Station with Northern Line Underground services y r e ll 18 a is located approximately 300m to the West. G There are 14 bus routes passing along Borough High Street and 9 routes on Tower Bridge Road 22 providing transport links into the City and West End. NOTE:- Reproduced from the Ordnance Survey100022432 SavillsMap (UK)with Ltd.NOTE:- Publishedthe for thepermission purposes of identification of theonly and althoughController believed to ofbe correctH.M. accuracyStationery is not guaranteed. Office.© Crown copyright licence number 0m 5m 2410m 15m 26 © UKMap Copyright The GeoInformation Group 2012 Licence No. LANDMLON100003121118. Plotted Scale - 1:500 74-84 Long Lane, Bermondsey, London SE1 4AU Tenancy Schedule Tenant Start Date: Lease Expiry: Break Clause: Rent 1st Year (p.a) Mark Smith Design Ltd 01.12.2013 30.11.2018 Mutual break on 01.05.2016 £30,000 on 3 months’ notice Colin Laine (T/A Studio 4) 01.07.2011 27.06.2016 Rolling mutual break on 6 £25,650 months’ notice Colin Laine (T/A Studio 4) Informal Informal Agreement terminable by £3,484 documented documented either party on 1 month’s agreement agreement notice Repro Graffix Ltd 01.07.2011 27.06.2016 Rolling mutual break on 6 £35,000 months’ notice Insite Energy Ltd 05.06.2013 04.06.2018 Mutual break on 05.12.2015 £49,000 on 6 months’ notice London Sustainability Exchange 21.09.2012 27.06.2016 Mutual rolling break on 6 £28,000 Planning Tenure months’ notice The site is located within the London Borough of The property is for sale Freehold subject to the London Sustainability Exchange Informal Informal Agreement terminable by £600 Southwark in the Central Activities Zone. various short term tenancies. documented documented either party on 3 month’s The existing buildings on site are not listed and the A table detailing the various tenancies all agreement agreement notice site is not within a Conservation Area. contracted outside the Landlord and Tenant Act Ndemic Creations Ltd 16.08.2013 16.08.2016 Tenant: on 16.02.2015 on 3 £19,000 1954 is detailed below. The vendor proposes months’ notice The Statutory Development plans for the site to enter into a new lease for the space currently Landlord: on 16.02.2016 on comprise the adopted London Plan (as amended 3 months’ notice occupied by Selected Rug & Matting Ltd, the 2013), the adopted Southwark Core Strategy (2011) company which is the subject of the disposal . Architecture PLB Ltd 16.01.2013 15.01.2018 Mutual break on 15.01.2016 £47,520 and the Southwark Plan (2007). on 9 months’ notice Brook Lapping Informal Informal Terminable on one £3,333 documented documented month’s notice by either agreement agreement party Accommodation Summary Total £241,587 Floor Level Gross Internal Area Net Internal Area Net Internal Area Start Date: Lease Expiry: Break Clause: Proposed Rent (p.a) sq m sq ft sq m sq ft B1 sq ft B8 sq ft Selected Rug & Matting Ltd * Third 201.3 2,167 168.9 1,818 1,818 Ground Floor + Mezzanine Second 565.1 6,083 420.6 4,528 4,069 51 Selected Rug & Matting Ltd * At 12 months with rolling 6 3 Years £165,000 First 564.5 6,076 432.4 4,655 4,352 84 1st Floor Offices completion months notice thereafter Ground 1,003.9 10,806 903.1 9,721 1,008 8,529 Selected Rug & Matting Ltd * Basement 220.1 2,369 159.2 1,714 1,714 Basement Storage & Lift Plant Total 2554.9 27,501 2,084 22,436 11,247 * 10,378* Proposed Total* £406,587 * Excludes ancillary areas * Subject to new lease with vendor. KALMARS Logos - Residential & Commercial plus details_Mono Colours Black - CMYK Split - (0,0,0,100) White - CMYK Split - (0,0,0,0) 74-84 Long Lane, Bermondsey, London SE1 4AU Investment / Development Opportunity RESIDENTIAL COMMERCIAL VAT Viewings The sale is not subject to VAT. Viewings are strictly by appointment, please RESIDENTIAL COMMERCIAL contact the joint sole selling agents to make an 2 Shad Thames, SE1 2 Shad Thames, SE1 Timing appointment. 020 7407 9770 020 7403 0600 A date for an informal tender has been set for 12 Further Information www.kalmars.com www.kalmars.com noon on Wednesday 29th October 2014 (unless sold prior). Further information is available at: www.savills.co.uk/longlane Method of Sale The property is to be sold by sale of 100% of Contact the shares in the company that wholly owns the Savills Kalmars corporate entity in which the freehold of the property is vested. A note prepared by the Andrew Cox Richard Kalmar vendor’s accountant (which can be viewed in 020 7016 3851 020 7940 7980 the online dataroom) gives further information [email protected] [email protected] about the corporate structure and identifies the Edward de Jonge Donald Walsh approximate base cost of the property. The 020 7016 3849 020 7403 0600 incoming purchaser will have responsibility for any [email protected] [email protected] corporation tax liability associated with any future disposal of all or any part of the property. Sean Cooper 020 7409 9948 EPC [email protected] The Property has been classified as having an EPC rating of C. The full EPC report is available in the dataroom. Important Notice Savills, their clients and any joint agents give notice that: 1. They are not authorised to make or give any representations or warranties in relation to the property either here or elsewhere, either on their own behalf or on behalf of their client or otherwise. They assume no responsibility for any statement that may be made in these particulars. These particulars do not form part of any offer or contract and must not be relied upon as statements or representations of fact. 2. Any areas, measurements or distances are approximate. The text, photographs and plans are for guidance only and are not necessarily comprehensive. It should not be assumed that the property has all necessary planning, building regulation or other consents and Savills have not tested any services, equipment or facilities. Purchasers must satisfy themselves by inspection or otherwise. Designed and Produced by Savills Marketing: 020 7499 8644 | September 2014.
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