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91-93 Southwark St

9,687 SF 85% Leased Office Building London SE1 0HX $8,770,611 ($905/SF) 6.05% Cap Rate

Investment Highlights

  • Freehold office in core South Bank location
  • Grade A specification with modern exposed services
  • Prominently positioned in the heart of Southwark Street, close to London Bridge and Southwark Underground stations, a short walk from the River Thames
  • Arranged over lower ground to 4th floors extending to 9,687 sq ft with floor plates of c. 1,500 sq ft

Executive Summary

The property was built in the 1970’s and subject to major refurbishment in recent years. It is arranged over lower ground, ground and four upper floors. Ceiling heights are generous throughout and full height glazing at front and rear flood the office space with natural light.
Offers are invited in excess of £7 million for the freehold interest, reflecting a net initial yield of 6.05% (assuming purchaser’s costs of 6.80%) and a low capital value of £723 psf, subject to contract.

Property Facts

Sale Type
Investment
Property Type
Office
Tenure
Freehold
Building Size
9,687 SF
Building Class
B
Year Built/Renovated
1975/2015
Price
$8,770,611
Price Per SF
$905
Cap Rate
6.05%
NOI
$530,622
Percent Leased
85%
Tenancy
Multiple
Building Height
6 Stories
Typical Floor Size
1,615 SF
Building FAR
2.47
Lot Size
0.09 AC

Amenities

  • 24 Hour Access
  • Accent Lighting
  • Basement
  • Recessed Lighting
  • Air Conditioning

Space Availability

  • Space
  • Size
  • Space Use
  • Condition
  • Available
  • Ground
  • 1,494 SF
  • Office
  • Full Build-Out
  • Now

The Ground Floor office is fully furnished with 22 desks currently in situ. These can be fully or party removed should a tenant wish.. The office has a very generous ceiling height and excellent natural light. Large windows fronting Southwark Street gives the opportunity for excellent brand visibility or showroom style use.

Space Size Space Use Condition Available
Ground 1,494 SF Office Full Build-Out Now

Ground

Size
1,494 SF
Space Use
Office
Condition
Full Build-Out
Available
Now

Ground

Size 1,494 SF
Space Use Office
Condition Full Build-Out
Available Now

The Ground Floor office is fully furnished with 22 desks currently in situ. These can be fully or party removed should a tenant wish.. The office has a very generous ceiling height and excellent natural light. Large windows fronting Southwark Street gives the opportunity for excellent brand visibility or showroom style use.

  • Listing ID: 33670652

  • Date on Market: 10/29/2024

  • Last Updated:

  • Address: 91-93 Southwark St, London SE1 0HX

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