169 Borough High Street, London, SE1 1HR

Description
Comprises an attractive small end terrace period building arranged over basement, ground and three upper floors.

The ground floor and basement are currently a sports therapy clinic with three partitioned treatment rooms, reception area and fitness room. The upper floors are offices, with the first floor being partitioned into two spaces and the other floors being open plan. W.C.s are located on the stair landings (exc. ground floor)

Ground floor has own entrance with the other floors accessed via a separate doorway, both from Chapel Court.

ACCOMMODATION

Basement : 284 sq ft
Ground Floor : 329 sq ft
First Floor : 283 sq ft
Second Floor : 282 sq ft
Third Floor : 303 sq ft
Total : 1,481 sq ft

Location
The property is prominently located on the east side of Borough High Street just south of the junction with Newcomen Street and close to the popular Borough Market and Bankside locality. Borough Station (Northern Line) and London Bridge mainline and underground stations (Northern and Jubilee Lines) are both within a short walk.

Recent and on-going major redevelopment has transformed this area into one of London’s most sought after business, leisure and residential destinations.

Terms
The Freehold held under title SGL61650 is offered for sale subject to the existing tenancies. Offers invited in the region of £850,000 reflecting a gross initial yield of just over 6.5% on the current income and ERV of the vacant third floor.

Specifications
• Gas central heating
• LED lighting
• Wood flooring in upper floors
• New roof covering in 2025 (with 20 year guarantee)

Tenancies and Development Potential
TENANCIES

Currently three tenancies in place over the ground/basement, first and second floors producing a total of £43,900 per annum. The third floor is vacant with an ERV of £12,000 per annum.

Tenancy schedule available on request.

DEVELOPMENT POTENTIAL

There is an outline scheme for an additional floor and conversion of the upper parts to create two one and half bed flats. Details available on request.