306 ST JAMES'S ROAD
306 ST JAMES’S ROAD BERMONDSEY LONDON, SE1 5JX FREEHOLD INVESTMENT ON A 1.16 ACRE SITE WITH RESIDENTIAL DEVELOPMENT POTENTIAL
INVESTMENT SUMMARY The existing property comprises 23,305 sq ft (2,165 sq m) G.I.A. of industrial, office and storage space, all on a site of approx. 1.16 acres (0.47 hectares). Let to the Secretary of State for Transport until 29th April 2024, at a passing rent of £145,000 p.a.This attractive opportunity provides a secure income stream with future residential development potential. Excellent location within Old Kent Road Opportunity Area, which is set for complete regeneration following the release of the draft Area Action Plan (AAP).These changes are being driven by the expansion of central London, south of the Thames, and the construction of the Bakerloo line extension down the Old Kent Road. Located 1.3 miles from central London.
Waterloo Lambeth North Elephant & Castle
Old Kent Road1 Old Kent Road2 New Cross Gate
306 St James’s Road
Lewisham
Ladywell
LOCATION The property is positioned on the west side of St. James’s Road, just north of its junction with Rotherhithe New Road in Bermondsey, South East London.The nearby Old Kent Road (A2) provides direct access into central London and the M25.The property is surrounded by a range of different uses with residential accommodation to the east, industrial uses to the south and west, and a school to the north. The building is positioned between Bermondsey, New Cross and Peckham, all areas that have or are being transformed into fashionable neighbourhoods.The new Maltby Street Food Market adjoining the northern end of St James’s Road is fast becoming a destination for food lovers.
Catford Bridge PROPOSED EXTENSION OF BAKERLOO LINE
THE EXISTING BUILDING The subject property is currently occupied by the Secretary of State for Transport until 29th April 2024, outside the Landlord and Tenant Act 1954. There is a rent review and tenant’s option to determine as at 29th April 2019. A copy of the lease is available on request. There are three buildings on the site arranged primarily on ground floor, with varying ceiling heights and part first floor, with a total floor area of 23,305 sq ft (2,165 sq m) occupying approx. two thirds of the site. North end building - Single storey building of brick, block and clad construction with an eaves height of 16ft/4.8m approx. Middle building – This building is of concrete frame construction with a clear height of up to 20 ft/6m in part. Southern end building – comprises a two storey office building. Access to the property is provided off St James’s Road. The site area, irregular in shape, is approximately 1.16 acres (0.47h)
OS MAP
306 ST JAMES’S ROAD
BUILDINGS
SQ FT
SQ M
North End Building
8,600
799
Middle Building
10,840
1,007
Southern End Building
3,865
359
TOTAL
23,305
2,165
DEVELOPMENT POTENTIAL TO ALTERNATIVE USES
LAKE IN BURGESS PARK
The local planning authority is the London Borough of Southwark.The building is not understood to be listed. The AAP was released in draft form in May 2016. It is intended to deliver 20,000 new homes and 5,000 new jobs, transforming the Old Kent Road into a tree lined boulevard similar to Islington or Clapham High Street, crossed by green corridors connecting four new vibrant parks and squares.
LYNTON ROAD
The plan also includes the Bakerloo line extension which will have two new tube stations on the Old Kent Road. The property offers investors/developers a secure income stream whilst working up a residential led detailed planning consent.
THE ST JAMES’S TAVERN
QUEENS ROAD STATION
LONDON BRIDGE 3 MINUTES
MALTBY STREET MARKET
TENURE The property is offered Freehold with the benefit of a lease to the Secretary of State for Transport.The owners have elected for VAT.
PROPOSAL Offers invited.
VIEWING To view the property please contact the joint agents KALMARs Commercial or Frederick Holt and Co.
BUSINESS RATES The rateable value for the current year is £126,000.
EPC’s Are available on request.
LIST OF SITES SOLD IN THE AREA The area is rapidly changing with other developments due to or already happening, confirming this as a popular destination and ensuring that it supports the facilities sought for contemporary urban dwellers. Examples of this include:BERMONDSEY WORKS,VERNEY ROAD, SE1
179 ILDERTON ROAD, SE16
Completed by Telford Homes in 2015 comprising 18 storeys for 148 residential units.
Construction underway for 9 apartments and commercial, set for completion in 2017.
272 ST JAMES’ ROAD, SE1
SPARK APARTMENTS, OLD KENT ROAD, SE1
Planning approved for 34 residential units with B1 space
200 new homes developed by Hyde Housing Group during 2014-2015.
in 8 storey development.
233-247 OLD KENT ROAD, SE1
29 POMEROY STREET, SE14
Planning approved for 36 flats being housed in 8 storey development.
Construction underway by Affinity Sutton for 37 units
6 VERNEY ROAD, SE16
with completion set for 2017.
£5.5 m 0.6 acre site
THE BATH HOUSE, 525-539 OLD KENT ROAD, SE1
310 ST JAMES ROAD, SE1
Newly constructed residential development by Higgins Homes
£6.75 million 0.5 acre site
comprising 27 apartments which were completed this year. 12 VERNEY ROAD, SE16
ILDERTON ROAD, SE16 1 acre site
£8.4m for 1.2 acre site 171-177 ILDERTON ROAD, SE16 Planning approved for 5 storey development to build 24 flats and 11 artist studios.
NEARBY RESIDENTIAL RECENT SALES 83-89 QUEENS ROAD – average sales price PSF £770 THE RESIDENCE, SE5 – average sales price PSF £785 BATH HOUSE, OLD KENT ROAD – average sales price PSF £750 WOODS ROAD, PECKHAM – average sales price PSF £750
BERMONDSEY WORKS
DON WALSH [email protected]
KEVIN BURKE
LUKE OSBORNE [email protected]
[email protected] 020 7582 9375
All properties are offered subject to contract and availability. These particulars are believed to be correct when published, but we cannot accept any liability whatsoever for any misrepresentation made either in these particulars or orally. Intending purchasers or tenants are strongly advised to make their own enquiries to check these particulars to satisfy themselves that the property is suitable for their purchase. They may be subject to VAT.
INVESTMENT SUMMARY The existing property comprises 23,305 sq ft (2,165 sq m) G.I.A. of industrial, office and storage space, all on a site of approx. 1.16 acres (0.47 hectares). Let to the Secretary of State for Transport until 29th April 2024, at a passing rent of £145,000 p.a.This attractive opportunity provides a secure income stream with future residential development potential. Excellent location within Old Kent Road Opportunity Area, which is set for complete regeneration following the release of the draft Area Action Plan (AAP).These changes are being driven by the expansion of central London, south of the Thames, and the construction of the Bakerloo line extension down the Old Kent Road. Located 1.3 miles from central London.
Waterloo Lambeth North Elephant & Castle
Old Kent Road1 Old Kent Road2 New Cross Gate
306 St James’s Road
Lewisham
Ladywell
LOCATION The property is positioned on the west side of St. James’s Road, just north of its junction with Rotherhithe New Road in Bermondsey, South East London.The nearby Old Kent Road (A2) provides direct access into central London and the M25.The property is surrounded by a range of different uses with residential accommodation to the east, industrial uses to the south and west, and a school to the north. The building is positioned between Bermondsey, New Cross and Peckham, all areas that have or are being transformed into fashionable neighbourhoods.The new Maltby Street Food Market adjoining the northern end of St James’s Road is fast becoming a destination for food lovers.
Catford Bridge PROPOSED EXTENSION OF BAKERLOO LINE
THE EXISTING BUILDING The subject property is currently occupied by the Secretary of State for Transport until 29th April 2024, outside the Landlord and Tenant Act 1954. There is a rent review and tenant’s option to determine as at 29th April 2019. A copy of the lease is available on request. There are three buildings on the site arranged primarily on ground floor, with varying ceiling heights and part first floor, with a total floor area of 23,305 sq ft (2,165 sq m) occupying approx. two thirds of the site. North end building - Single storey building of brick, block and clad construction with an eaves height of 16ft/4.8m approx. Middle building – This building is of concrete frame construction with a clear height of up to 20 ft/6m in part. Southern end building – comprises a two storey office building. Access to the property is provided off St James’s Road. The site area, irregular in shape, is approximately 1.16 acres (0.47h)
OS MAP
306 ST JAMES’S ROAD
BUILDINGS
SQ FT
SQ M
North End Building
8,600
799
Middle Building
10,840
1,007
Southern End Building
3,865
359
TOTAL
23,305
2,165
DEVELOPMENT POTENTIAL TO ALTERNATIVE USES
LAKE IN BURGESS PARK
The local planning authority is the London Borough of Southwark.The building is not understood to be listed. The AAP was released in draft form in May 2016. It is intended to deliver 20,000 new homes and 5,000 new jobs, transforming the Old Kent Road into a tree lined boulevard similar to Islington or Clapham High Street, crossed by green corridors connecting four new vibrant parks and squares.
LYNTON ROAD
The plan also includes the Bakerloo line extension which will have two new tube stations on the Old Kent Road. The property offers investors/developers a secure income stream whilst working up a residential led detailed planning consent.
THE ST JAMES’S TAVERN
QUEENS ROAD STATION
LONDON BRIDGE 3 MINUTES
MALTBY STREET MARKET
TENURE The property is offered Freehold with the benefit of a lease to the Secretary of State for Transport.The owners have elected for VAT.
PROPOSAL Offers invited.
VIEWING To view the property please contact the joint agents KALMARs Commercial or Frederick Holt and Co.
BUSINESS RATES The rateable value for the current year is £126,000.
EPC’s Are available on request.
LIST OF SITES SOLD IN THE AREA The area is rapidly changing with other developments due to or already happening, confirming this as a popular destination and ensuring that it supports the facilities sought for contemporary urban dwellers. Examples of this include:BERMONDSEY WORKS,VERNEY ROAD, SE1
179 ILDERTON ROAD, SE16
Completed by Telford Homes in 2015 comprising 18 storeys for 148 residential units.
Construction underway for 9 apartments and commercial, set for completion in 2017.
272 ST JAMES’ ROAD, SE1
SPARK APARTMENTS, OLD KENT ROAD, SE1
Planning approved for 34 residential units with B1 space
200 new homes developed by Hyde Housing Group during 2014-2015.
in 8 storey development.
233-247 OLD KENT ROAD, SE1
29 POMEROY STREET, SE14
Planning approved for 36 flats being housed in 8 storey development.
Construction underway by Affinity Sutton for 37 units
6 VERNEY ROAD, SE16
with completion set for 2017.
£5.5 m 0.6 acre site
THE BATH HOUSE, 525-539 OLD KENT ROAD, SE1
310 ST JAMES ROAD, SE1
Newly constructed residential development by Higgins Homes
£6.75 million 0.5 acre site
comprising 27 apartments which were completed this year. 12 VERNEY ROAD, SE16
ILDERTON ROAD, SE16 1 acre site
£8.4m for 1.2 acre site 171-177 ILDERTON ROAD, SE16 Planning approved for 5 storey development to build 24 flats and 11 artist studios.
NEARBY RESIDENTIAL RECENT SALES 83-89 QUEENS ROAD – average sales price PSF £770 THE RESIDENCE, SE5 – average sales price PSF £785 BATH HOUSE, OLD KENT ROAD – average sales price PSF £750 WOODS ROAD, PECKHAM – average sales price PSF £750
BERMONDSEY WORKS
DON WALSH [email protected]
KEVIN BURKE
LUKE OSBORNE [email protected]
[email protected] 020 7582 9375
All properties are offered subject to contract and availability. These particulars are believed to be correct when published, but we cannot accept any liability whatsoever for any misrepresentation made either in these particulars or orally. Intending purchasers or tenants are strongly advised to make their own enquiries to check these particulars to satisfy themselves that the property is suitable for their purchase. They may be subject to VAT.
