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Agent's details

8-20 Pocock Street, London, SE1

For sale: £9,250,000.00|13,759 Sq Ft|Office, Offices

Property details

FOR SALE£9,250,000.00
SIZE13,759 Sq Ft
ADDRESS8-20 Pocock Street, London, SE1
TYPEOffice, Offices
TENUREFor Sale Freehold
POSTED ON11th November 2021

Description

8-20 Pocock Street comprises 13,759 sq ft of office accommodation arranged over the ground and first floor, of an 8-storey building completed in 2000. Above the first floor, the property is held� under� a� separate� title� and� is� used� as� residential� accommodation,� owned� by� the� freeholder Legal and General.

Location Highlights

8-20 Pocock Street occupies a highly prominent position on the south side of Pocock Street, close to its junction with Blackfriars Road. The property is situated a 2-minute walk (200 metres) from Southwark Underground Station (Jubilee Line), providing direct access to Green Park (3 stops) and Canary Wharf (4 stops). Waterloo Station is also within short walking distance.

Specification

The property has been measured by Plan London in accordance with the RICS Code of Measuring Practice (6th edition) offering a total of 13,759 sq ft (1,279 sq m) of office accommodation.

EPC

The offices have an EPC rating of B (49). The Energy Performance Certificate is available on request.

Services and Planning

The property lies within the London Borough of Southwark and is not listed.

Key Features

- 8-20 Pocock Street provides a unique opportunity to acquire a high yielding government let office investment, located in one of London's most diverse

- Long leasehold sale of the ground and first floor offices

- Prime Southbank location, positioned on the south side of Pocock Street, close to the junction of Blackfriars Road

- Excellent transport connectivity, situated only 200 metres from Southwark Station, 425 metres from London Waterloo and 550 metres from Borough Station

- Modern, open plan offices constructed in 2000, comprising approximately 13,759 sq ft (1,279 sq m)

- Part ground and first floor to let to The Secretary of State for Communities and Local Government at a rent of £377,100 per annum (£50.00 psf) until lea

- Ground floor is let to the London Ambulance Services NHS trust. The tenant has served notice to break and will be vacating in June 2022.

- The property provides a total rental income of £676,100 per annum, equating to a reversionary rent of £49.14 per sq ft overall.

- 55% of the total income is secured to a government tenant for in excess of 5 years

- Held on a Long Leasehold from Legal and General for a term of 150 years from 1st September 2000 at a peppercorn ground rent, providing 128 years term ce


( Agency Pilot Software Ref: 110813 )

Location

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Location: 8-20 Pocock Street, London, SE1

Southwark (0.2 miles)

Borough (0.4 miles)

Elephant & Castle (0.5 miles)

Elephant & Castle (0.5 miles)

Waterloo East (0.5 miles)

Waterloo (0.5 miles)

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