Imperial House, 21-25 North Street, Bromley, Kent
Size
25,670
Tenure
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EPC
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Parking
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- Primary use
- Traditional office
- Other use(s)
- Traditional office
- Capacity
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- Desks
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No floor / site plan
Building amenities
Additional costs may apply for some services – please check the full property description for more details.
- Parking
Key features
- High quality office accommodation totalling c.25,670sqft over four storeys
- Only 54% occupied due to owners selling their business.
- Site area 0.33 acres. Lapsed permitted development approval from office to residential in 2015 (property now in article 4 zone).
- Current gross total income including rent & service charge c.£506,265pa at only 54%occupancy.
- ERV c.£968,434pa at 100% occupancy.
- Guide price £5,000,000 + VAT F/H
Description
The property is multi-let and currently produces a combined rental and service charge income of approximately £506,265 per annum, based on 54% occupancy. With the remaining accommodation let, the estimated rental value (ERV) increases to approximately £968,434 per annum.
The ground floor comprises a business centre with small office suites and 114 workstations, let on short-term licences to individual occupiers with fees inclusive of service charge. Occupancy fluctuates; currently 48 workstations are occupied and 66 are vacant. The average income per occupied workstation is approximately £339 pcm (£4,068 per annum).
The upper floors comprise four open-plan office suites let on leases, with tenants paying rent plus service charge. The vendors, OSTC Ltd, previously occupied part of the second floor (2,090 sqft) and the entire third floor (5,656 sq ft), totalling approximately 7,746 sq ft of high-quality fitted office space. Following the sale of the business in late 2024, the new owners no longer require the accommodation.
The vacant space provides an opportunity for a purchaser to either re-let the accommodation and increase occupancy towards 100%, achieving the estimated income of approximately £968,434 per annum, or occupy the space for their own business.
OSTC Ltd holds a lease over part of the second floor and the whole of the third floor until October 2026. The passing rent is £60,000 per annum (£28.70 per sq ft) for the second floor and £141,399 per annum (£25.00 per sq ft) for the third floor, plus service charge. By agreement, these leases can continue until expiry, increasing the current gross income to approximately £771,728 per annum.
Imperial House offers a range of flexible options for a purchaser, including investment, owner occupation, or a combination of both.
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- Business rates
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- Use class
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- Listed building
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Brochure
Imperial House, 21-25 North Street, Bromley, Kent
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