TYPEIndustrial, Office, Land, Warehouse, Offices, Commercial Land
TENUREInvestment Opportunity, For Sale Freehold
POSTED ON30th November 2023
Following an abortive sale of the above property, the guide price has been substantially reduced by £950,000 to £2,300,000 on the basis of an immediate sale.
The reduced guide price reflects an extremely low capital value of just £150 per sq. ft.
32 Verney Road is a 15,327 sqft industrial building (with current B2 Use) offering significant redevelopment & asset management potential offered for sale on an unconditional basis, with vacant possession.
• The site footprint extends to approx. 0.32 acres / 0.13 hectares and comprises a warehouse and a three-storey office building to the rear across full site coverage
• Total GIA approx. 1,424 sqm (15,327 sqft)
• Industrial element extends to approx. 1,312 sqm (14,125 sqft) GIA
• Office building extends to approx. 111 sqm (1,202 sqft) GIA
• Development options include the potential for refurbishment & re-configuration of the existing building, refurbishment plus partial demolition to create a yard space to the front, in addition to full demolition of the existing building and construction of a new-build replacement
• Southwark Council aim for Verney Road to become a sought after industrial destination which is benefiting from significant investment from British Land, Mileway & Capital Industrial
• Guide price reflects a low capital value of £212 per sqft on the GIA
• Offered for sale freehold with vacant possession upon Legal Completion