Action House 53 Sangate Street London SE15 1LE

Action House
53 Sangate Street
London
SE15 1LE

South-East London Office Investment Freehold Opportunity

Let to Action for Blind People (Part of RNIB) until 2027 (subject to option)
Approximately 1,048 sq m (11,852 sq ft)
Includes Car Parking
Nearby occupiers, include Enterprise Rent a Car
Six Week Completion Period Available

Lot
36
Auction
6th December 2012
Rent
£107,000 per Annum Exclusive
Status
Sold
Price
£1,260,000
Auction Venue
Millennium Hotel
39-44 Grosvenor Square
London W1K 2HP

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South-East London Office Investment Freehold Opportunity

Let to Action for Blind People (Part of RNIB) until 2027 (subject to option)
Approximately 1,048 sq m (11,852 sq ft)
Includes Car Parking
Nearby occupiers, include Enterprise Rent a Car
Six Week Completion Period Available

Lot 36
Auction 6th December 2012
Rent £107,000 per Annum Exclusive
Status Sold
Price £1,260,000
Sector
Office
Auction Venue
Millennium Hotel
39-44 Grosvenor Square
London W1K 2HP

Property Information

Location

Miles: 2 miles South of Tower Bridge 2.5 miles south of City of London
Roads: A2, A205 (South Circular Road)
Rail: London Bridge (Main Line) South Bermondsey Rail Station, Bermondsey Underground (Jubilee Line)
Air: London City Airport, London Heathrow, London Gatwick

Situation

The property is situated in the on the north side of Sandgate Street immediately off Old Kent Road (A2) in the busy and popular Central London suburb of Bermondsey which lies some 2 miles south-east of the City of London.

Tenure

Freehold.

Location

Miles: 2 miles South of Tower Bridge 2.5 miles south of City of London
Roads: A2, A205 (South Circular Road)
Rail: London Bridge (Main Line) South Bermondsey Rail Station, Bermondsey Underground (Jubilee Line)
Air: London City Airport, London Heathrow, London Gatwick

Situation

Tenure

Freehold.

Description

The property comprises a substantial self contained 3 storey office building within a secure site containing approximately 20 marked car parking spaces. The offices benefit from suspended ceilings, central heating and part air conditioning. The property benefits from a passenger lift.

VAT

VAT is not applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

VAT

VAT is not applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Review/(Reversion)
Ground, First & Second	Office	1,098.57 sq m	(11,825 sq ft)	ACTION FOR BLIND PEOPLE (1)	15 years from 29/03/2012 until 28/03/2027 on a full repairing and insuring lease. (2)	£107,000	29/03/2017 and 29/03/2022 (2)
Totals		1,098.57 sq m	(11,825 sq ft)			£107,000

1) Action for Blind People are a national registered Charity and are part of the Royal National Institute of Blind People (RNIB). For the year ending 31st March 2012 Action for Blind People reported total incoming resources of £24,581,000 and total funds of £20,954,000. (Source: Action for Blind People Annual Review 2011/2012)
(2)The lease provides for the rent to increased to £120,000 per annum exclusive on 29/03/2017 and £140,000 per annum exclusive on 29/03/2022 and there is a tenant option to determine the lease on 24/12/2021. The lease is subject to a schedule of condition.