Tower Bridge Quarter - 206-224A Tower Bridge Rd London SE1 - BBG Real Estate Advisers
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206–224A Tower Bridge Rd
London SE1
Tower Bridge Quarter
Office & Retail Estate
Freehold Portfolio Investment Opportunity
Tower Bridge Quarter – London SE1
A UNIQUE INVESTMENT OPPORTUNITY
CLOSE TO A UNIQUE LANDMARK
1
Tower Bridge Quarter – London SE1
INVESTMENT
SUMMARY
An attractive terrace of nine period buildings immediately
to the south of London’s iconic Tower Bridge.
Located in the heart of Southwark, one of London’s most
desirable places to live, work and socialise.
The buildings are surrounded by some of London’s most
iconic heritage assets including; Tower Bridge, The
Tower of London, St Saviour’s Dock and Edward III’s
Rotherhithe.
Constructed in the early 1900s the terrace comprises a
total of 39,321 sq ft of offices, retail, restaurants, cafés
and bars, accessed from both Tower Bridge Rd and
Horsleydown Lane.
Total income from the properties is £899,875 pa,
equating to an attractive low overall figure of £23 psf.
Overall WAULT for the estate is 9.7 years to expiries and
2.4 years to breaks underpinned by longer term income
from the restaurant and pub units and a mix of shorter
term leases for the shops and offices.
The estate offers a number of excellent asset
management opportunities with some longer term
potential for change of use and redevelopment, subject
to the necessary consents.
Offers are invited in excess of £17.00m which equates
to a Net Initial Yield of 4.92% and a highly attractive
Reversionary Yield of 6.97% at a low capital value of
£432 psf.
2
Tower Bridge Quarter – London SE1
Borough The London Bridge Hay’s More City Tower Bridge Tower Tower of Butler’s St Katharine
Market Shard Galleria London Hall Quarter Bridge London Wharf Docks
3
Tower Bridge Quarter – London SE1
UNRIVALLED
Tower Bridge, More London & GLA Building
CULTURAL
SETTING
Tower Bridge Tower of London More London
Bridge Theatre Tower of London Built between 1886 and 1894 A World Heritage Site A highly successful 13-acre
the world recognised bridge attracting over 2 million commercial development
attracts over 44,000 visitors per year. that also hosts numerous
crossings per day. public events annually.
The GLA Building Borough Market Bermondsey Street
Seat of the London London’s oldest artisan food One of London’s oldest streets,
government and home to market and one of the most going back over 1,000 years
The Mayor of London. diverse locations for fresh food, and now a vibrant mix of
café’s, bars and restaurants homes, bars, restaurants
Borough Market Bermondsey Street
anywhere in London. and shops.
4
Tower Bridge Quarter – London SE1
THE
LOCATION
The Tower Bridge Quarter has a prominent position
on Tower Bridge Road, immediately to the east of
City Hall and The More London Estate which is
Butler’s Wharf Warehouses
home to major local occupiers, including; PWC,
Ernst & Young, Norton Rose Fulbright, HG Capital,
Montagu Private Equity and News International.
Le Pont de la Tour
Immediately to the north of The TBQ
is Shad Thames which was the largest
warehouse complex in the UK in Victorian
times. After a long period in decline, in the
early 1980’s, it was transformed into over
one million square feet retail, cultural, work
and living space. The project took 20 years
to complete and involved the restoration
of six Victorian warehouses which are
now high-quality waterside restaurants,
apartments, offices and cultural spaces
and recognised as one of the UK’s most
successful regeneration projects.
Shad Thames Butler’s Wharf
5
Tower Bridge Quarter – London SE1
The
South
Bank More London
Camino South Bank The Ivy Tower Bridge
London’s South Bank has been one
of the city’s most significant areas
of regeneration in the last 10 years.
It now provides an enviable mix of
world-class cultural attractions such
as Tate Modern and the Globe Theatre,
alongside successful commercial and
residential developments including
The Shard, itself a global tourist attraction,
More London and Potters’ Fields.
Tate Modern Borough Market & The Shard The Globe
6
Tower Bridge Quarter – London SE1
LOCAL ll Street
ang e
t
Leadenha Leade
Stree
Cornhill nhall S
OCCUPIERS
Lem
treet
New Ch
Mansell St
et
et
Stre
d
Can
Brea
non oria
Stre
an
St reet en Vict
Que
Str
BANK
urch
et
Kin
eet
STATION re
St
reet
cech
g
rch
M
W
hu
ar
Queen Victor nc
illi
kL
Gra
ia Street Fe
Minori
am
an
Can
e
St
non
St FENCHURCH STREET
re
reet
ess
BUSINESSES
et
STATION reet
Prescot St
01
Upper Thames Street
CANNON STREET
01 PWC 09 Pacific Life Upp STATION Eastc
heap
er T
02 Ernst & Young 10 Gensler & Associates ham
es S Gr TOWER HILL
t Street
t reet ea
tT STATION Royal Min
03 Southwark Council 11 HCA International ow
Millennium Bridge
er
St
04 Greater London Authority 12 Kantar Media ree
t
Tower Hill
05 WeWork 13 Duff and Phelps Lower
Tham
es Str
06 Mazars 14 Womble Bond Dickinson eet
07 Gowling WLG 15 Robert Half 01 MONUMENT 08
STATION Ea
st
08 Zoopla Property Group 16 Jellyfish Group Rive
r Th 08 14 06
Sm
ith
ame
s 09 fie
ge
ld
rid
on B
05 10
Lo nd
TATE
RESTAURANTS & BARS MODERN
Riv
08
er T 14 St Katharine
ham Docks
09 es
01 The Ivy 10
Sumner Str Browns
eet
07
Sum
02 Gaucho 11 ASK Italian ner Street
Road
03 The Coal Shed 12 Upper Crust
k Bridge
01 Hay’s 02
ge
04 Strada 13 The Butler’s Wharf Borough Galleria
rid
04
05 The Vault Bar Chop House Market
ole 14 12
B
To
ar
et
er
re
02
Southw
yS 02
14gton StrStarbucks 01
St
eet
Tow
06 Watch House Lavin St
13
tre
et Riv
gh
Th 04
15 The Two Bridges Ale om er T
Gre
Hi
Southwark Street
07 Temakinho as 14 04 More ham
01 London 07
at
h
House & Kitchen St 15 es
ug
Ewer
Guil
re
08 Zizzi’s LONDON et Potters
ro
dford
14 05
Bo
Street
16 The Bridge Lounge & BRIDGE 16 LONDON BRIDGE Fields
09 Pizza Express 03 07 01
Stre
Dining Room STATION 12 STATION To
ole
et
y 14
11 St
re
Guy’s et Tower Bridge 13
Quarter 06 Sh Butler’s
Hospital ad Wharf
03 08
Th
HOTELS & GYMS St 09
am
ad
es 11
e et
Th 16 06
e Ro
om
15
Str
as
St 10
ree
ridg
igh
11 t
01 Fitness First 08 Cheval Three Quays
hH
er B
05
g
02 Third Space 09 Premier Inn
d
rou
Tow
oa
Brem
eR
Bo
03 The Circle Gym & Spa 10 London Tower Bridge
idg
es
Br
To
am
Apartments
onds
k
ar
04 Hilton o le
hw
Th
y 03 10
ut
St
11 Tooley Street
ad
So
ey St
05 The Dixon Hotel BOROUGH Druid re
Sh
12 et
Apartments STATION Street
06 The Lalit Hotel reet
Market
12 Gate House Apartments
07 The Tower Hotel 09
7
Tower Bridge Quarter – London SE1
TOWER HILL
TRANSPORT BANK
15 minutes
11 minute walk CITY
AIRPORT
CONNECTIONS 36 minutes
The buildings are approximately 8 minutes’ walk
from London Bridge and Bermondsey stations on The FENCHURCH TOWER
Southbank and 10 minutes from Tower Hill and Tower STREET GATEWAY
Gateway on the north side of Tower Bridge. 13 minute walk 10 minute walk
London Bridge has recently undergone a £1 billion
regeneration which has increased station and rail
capacity by up to 40% and now brings approximately 96
million passengers into London annually.
As part of the redevelopment, a new entrance was
BOND CANARY
created on Tooley street which brought access to the
STREET WHARF
station much closer to Tower Bridge Quarter.
26 minutes 18 minutes
Tower Bridge
Quarter
LONDON
BRIDGE BERMONDSEY
9 minute walk 12 minute walk
CANADA
WATERLOO WATER
BOROUGH
19 minutes 14 minutes
16 minute walk
Walking
Public Transport Source TfL
8
Tower Bridge Quarter – London SE1
THE
BUILDINGS
Tower Bridge Quarter is a terrace of nine individual
buildings constructed in a combination of brick,
timber and steel frame construction over four floors.
Principal access to the retail and office floors is from
Tower Bridge Rd, but each building has a separate
access from Horsleydown Lane, also at ground
floor level.
910
Retail
Office
1st Floor
2nd Floor
Ground Floor
Restaurant / Pub
Lower Ground Floor
PROPERTY
OVERVIEW
224A
222
22 4
3,3 AT
37 ow
sq
4,3 ft er NIA Bri
25
sq (31 dge
220
ft G 0.0 R
IA sq oad
(40 m
1.8 NIA
222 sq )
4,1 Tow m
38 GIA
sq er )
ft N Bri
218
IA dg
eR
(38
4 .4 oa
sq d
220 m
NIA
)
Tow
4,1 Tow
40
sq er
er B
ft N
216
Bri
IA dg
(38 eR
ridg
4 .6 oa
sq
m
d
e Ro
2 18 NIA
3,2 )
ad
Tow
39 er
sq
214
5, 4 ft N Bri
45 IA d
sq (30 ge R
ft G 0.9 oa
IA sq d
2 16 (50 m
5.9 NIA
3,2 Tow
87 s q )
sq e r m
GIA
ft N Bri )
212
IA dge
(30
5.4 Roa
sq d
2 14 m
NIA
2,3 Tow )
43 e
sq r
3,7 ft N Bri
210
84 IA dge
sq (21
ft G 7.7 Roa
IA sq
m
d
212 (35
1 . NIA
2,8 Tow 5s
qm )
89
sq er B GIA
ft N rid )
IA g
(26 e R
8.4 o a
sq d
210 m
NIA
206-208
2,9 To )
31 we
sq
ft N Brr
IA idge
(27
2.3 Roa
sq
m
d
NIA
)
20
Que
en
4,2 6-20
73
sq 8 To
8,3 ft N w
Eliz
82 IA er B
a
sq (39
b
ft G 7.0 ridg
e
IA sq e R
(77 m o
8.7 NIA ad
th S
sq )
m
GIA
tree
)
Tower Bridge Quarter – London SE1
tTower Bridge Quarter – London SE1
VIRTUAL TOURS
Click on a link below to view a Virtual Tour
of the relevant building:
224A Tower Bridge Rd 222 Tower Bridge Rd 220 Tower Bridge Rd 218 Tower Bridge Rd 216 Tower Bridge Rd
All Floors G & LG 1st & 2nd G & LG 1st & 2nd All Floors G & LG 1st 2nd
Floors Floors Floors Floors Floors Floor Floor
214 Tower Bridge Rd 212 Tower Bridge Rd 210 Tower Bridge Rd 206-208 Tower Bridge Rd
All Floors G & LG 1st & 2nd G & LG 1st & 2nd All Floors
Floors Floors Floors Floors
11Tower Bridge Quarter – London SE1
THE
OFFICES
12Tower Bridge Quarter – London SE1
THE
OFFICES
The offices are located at first and second floor levels which range in
size from around 500 sq ft to 950 sq ft. All the units have been recently
refurbished with bare timber floors and exposed services. Specification
varies from building to building but includes:-
- Comfort cooling in part - New double glazed windows
- Electric and central heating - Exposed timber and steel beams
and columns
- Exposed services and pendant
LED lighting in part - New kitchens/tea points in
refurbished space
- Suspended ceilings with recessed
lighting in part - New male and female WCs in
refurbished units
- Wood flooring
- Perimeter trunking
13Tower Bridge Quarter – London SE1
RETAIL
UNITS
14Tower Bridge Quarter – London SE1
RETAIL
UNITS
The retail units all front on to Tower Bridge Rd with
secondary access from Horsleydown Lane. The units
range in size from 1,800 sq ft to 2,000 sq ft and each
was let in shell condition for fit out by the tenants.
15Tower Bridge Quarter – London SE1
RESTAURANT
& PUBS
16Tower Bridge Quarter – London SE1
RESTAURANTS
& PUBS
The restaurants and pubs all occupy self-contained units over
lower ground to second floors ranging in size from 3,800 sq
ft to 8,400 sq ft. Each operator has fitted out to their own
specification, although all use the ground floor as their principal
customer area with ancillary uses mostly at lower ground floor
level. The pubs both have venue areas.
17Tower Bridge Quarter – London SE1
SITE PLAN &
ACCOMMODATION
Tower Bridge Road Tower Bridge
h St.
206-208 210 212 214 216 218 220 222 224A
Queen Elizabet
Horse
lydow
n Lane
206-208 210 212 214 216 218 220 222 224 A
Floor Sq Ft Sq Ft Sq Ft Sq Ft Sq Ft Sq Ft Sq Ft Sq Ft Sq Ft Sq Ft Sq Ft Sq Ft Sq Ft Sq Ft Sq Ft Sq Ft Sq Ft Sq Ft
NIA GIA NIA GIA NIA GIA NIA GIA NIA GIA NIA GIA NIA GIA NIA GIA NIA GIA
2 1,018 1,977 513 612 523 929 - 822 736 858 - 1,099 746 1,075 976 1,082 503 923
1 - 1,998 675 941 709 944 770 970 837 1,096 1,030 1,374 1,054 1,261 1,013 1,227 1,000 1,092
G 1,658 1,967 835 960 739 966 843 965 863 1,071 1,057 1,331 1,093 1,248 1,078 1,221 863 1,071
LG 1,597 2,440 908 1,222 918 1,018 730 1,027 851 1,053 1,152 1,641 1,247 1,504 1,071 1,535 971 1,239
Total 4,273 8,382 2,931 3,735 2,889 3,857 2,343 3,784 3,287 4,078 3,239 5,445 4,140 5,088 4,138 5,065 3,337 4,325
18Tower Bridge Quarter – London SE1
FLOOR
PLANS
LOWER GROUND FLOOR PLANS Tower Bridge Road
206-208 210 212 214 216 218 220 222 224A
Horselydown Lane
UPPER GROUND FLOOR PLANS
206-208 210 212 214 216 218 220 222 224A
Office
Retail
Restaurant / Pub Not to scale. For identification purposes only.
19Tower Bridge Quarter – London SE1
FLOOR
PLANS
FIRST FLOOR PLANS
206-208 210 212 214 216 218 220 222 224A
SECOND FLOOR PLANS
206-208 210 212 214 216 218 220 222 224A
Office
Retail
Restaurant / Pub Not to scale. For identification purposes only.
20Tower Bridge Quarter – London SE1
TENANCY TENURE
SCHEDULE Each of the properties is held freehold in accordance with the
title numbers in the schedule which is available in the data room.
Unit Floor Area Measuring Lease Review Break Expiry Lease Outside L&T Rent Headline Rent
No. Unit Tenant Comments
Type NIA (Sq ft) Standard Date Date Date Date Term (Yrs) 1954 Act? (£ psf) (£ Per Annum)
210 Office 2nd Zaggora Global Ltd 513 NIA Nov-19 Nov-22 Nov-24 5 Y £37.65 £19,313
Break option is subject to 6 months' notice. A deposit has been provided equivalent to 6 months' rent.
210 Office 1st Zaggora Global Ltd 675 NIA Jul-19 Jul-22 Jul-24 5 Y £43.50 £29,363
212 Office 2nd Terms provisionally agreed 523 NIA Nov-20 Nov-22 Nov-23 3 Y £36.53 £19,103
Rolling tenant's break option from the second anniversary, subject to serving 6 month's written notice.
A deposit has been provided equivalent to 3 months' rent.
212 Office 1st Terms provisionally agreed 709 NIA Nov-20 Nov-22 Nov-23 3 Y £36.53 £25,897
216 Office 2nd The Fashion Digital 736 NIA Jan-20 Jan-23 Jan-25 5 Y £23.10 £17,000 Break option is subject to 6 months' notice. A deposit has been provided equivalent to 3 months' rent.
216 Office 1st Restaurant Story Ltd 837 NIA Oct-19 Oct-21 Oct-22 3 Y £37.04 £31,000 Break option is subject to 6 months' notice. A deposit has been provided equivalent to 6 months' rent.
220 Office 2nd Anderson Tours Ltd 746 NIA Dec-17 Dec-22 Dec-27 10 Y £44.50 £33,200 Break option is subject to 9 months' notice. A deposit has been provided equivalent to 6 months' rent.
220 Office 1st Anderson Tours Ltd 1,054 NIA Dec-17 Dec-22 Dec-27 10 Y £45.07 £47,500 Break option is subject to 9 months' notice. A deposit has been provided equivalent to 6 months' rent.
222 Office 1st & 2nd PCA Law Ltd 1,989 NIA Feb-20 Feb-23 Feb-25 5 Y £35.34 £70,300 Break option is subject to 6 months' notice. A deposit has been provided equivalent to 3 months' rent.
Total 7,782 £37.61 £292,675
210 Retail G & LG Krystals Express Ltd 1,743 NIA Jul-19 Jul-24 Jul-29 10 N £22.23 £38,750 2024 break option is subject to 6 months' notice.
212 Retail G & LG IMM Properties Ltd 1,657 NIA Sep-18 Sep-21 Sep-23 5 N £22.33 £37,000 Break option is subject to 6 months' notice. A deposit has been provided equivalent to 6 months' rent.
Done Brothers (Cash Betting)
216 Retail G & Part LG 863 NIA Dec-05 - Dec-20 15 N £42.47 £36,650 Break option is subject to 6 months' notice. A deposit has been provided equivalent to 6 months' rent.
Ltd T/A BetFred
Platform
216 Retail Morefit Ltd 851 NIA Apr-18 Apr-28 Apr-33 15 Y £32.31 £27,500 Break option is subject to 6 months' notice. A deposit has been provided equivalent to 6 months' rent.
Space (LG)
220 Retail G & LG Chesterton Global Ltd 2,340 NIA May-18 - May-23 5 N £19.36 £45,300 A deposit has been provided equivalent to 6 months' rent.
222 Retail G & Part LG Hobs Reprographic PLC 2,149 NIA Jan-18 Jan-23 Dec-27 10 Y £32.34 £69,500 Break option is subject to 6 months' notice. A deposit has been provided equivalent to 6 months' rent.
Total 9,603 £26.52 £254,700
The annual rent is subject to stepped increases and will rise to £145,000 as of December 2021.
206-208 Restaurant Whole Draft House Holding Ltd 8,382 GIA Dec-16 Dec-21 - Dec-36 20 N £16.40 £137,500
A deposit has been provided equivalent to 1 year's rent.
214 Restaurant Whole Indian Fusion 3,784 GIA May-10 May-20 - May-25 15 Y £13.21 £50,000 2020 Rent review negotiations ongoing
218 Restaurant Whole Bloomsbury 7 Ltd 5,445 GIA Nov-18 Nov-23 - Nov-38 20 Y £15.61 £85,000 A deposit has been provided equivalent to 6 months' rent.
224A Restaurant Whole Tower Bridge Kitchen 4,325 GIA Jun-15 Jun-20 - Jun-30 15 N £18.50 £80,000 A deposit has been provided equivalent to 6 months' rent.
Total 21,936 £16.07 £352,500
Grand Total 39,321 36,634 £22.89 £899,875
21Tower Bridge Quarter – London SE1
OFFICE MARKET RETAIL MARKET
COMMENTARY COMMENTARY
SOUTHBANK OFFICE MARKET SOUTHBANK RETAIL MARKET
The Southbank has been among the top performing submarkets in recent years, Tower Bridge Road and the surrounding streets, especially Shad Thames and
with prime rents rising to £70.00 psf in 2020, up 7.7% on the previous year. Strong the river walk going east and west attract substantial footfall throughout the
rental growth has been supported by a chronic undersupply of office stock in the year from local office occupiers, residents and tourists. Local developments have
Southbank submarket which entered 2020 with the lowest vacancy levels in central significantly added to the retail and cultural offering, providing a diverse mix of
London at 1.7%. This figure has risen throughout the year but remains comparatively shops, restaurants, bars, hotels and attractions such as Berkeley Homes’ Bridge
low at 4.7%. Of this 31% is second-hand tenant release space, but new space is still Theatre, London’s largest new theatre in over 80 years. The adjacent development
in short supply at for only 20% of all availability. of Tower Bridge Court will enhance this area further and extend the retail parade up
Horsleydown Lane from Shad Thames to Tower Bridge Quarter.
Strong rental growth and low vacancy levels have continued to attract developers to
the Southbank, with Deloitte reporting the highest number of new starts on record
for H1 2020. Despite this increase in activity, the volume of new starts only amounts
to 560,000 sq ft and, as such, the area is likely to continue to attract developer
interest.
RECENT LETTINGS RECENT LETTINGS
NIA Term Rent NIA Rent Rents
Date Address Floor(s) Incentive Tenant Date Address Tenant
(sq ft) (Break) (£ psf) (sq ft) (£ pa) (£ psf)
£52.50 (1st) 163-167
Jul 150-152 Ground
7,493 10 (5) £42.50 (Grnd) 6 Months Zwift UK Q1 2020 Bermondsey Street 558 £40,000 £71.68 Andrew Brown Hair
2020 Long Lane & 1st
(£47.50 Blended) SE1
60 49
Apr 49 Sandstone Bobcat
Gainsford 2nd 3,365 5 £55.00 9 Months TCP Global Q4 2019 Southwark Bridge Road 11,590 £509,916 £44.00
2020 London Ltd
Street SE1
209
Feb Duchess Walk
Blackfriars 3rd 4,485 5 £62.00 10 Months JGA Group Q3 2019 763 £52,000 £68.15 Custard
2020 SE1
Road
9 194-204
Jan
Holyrood 4th 2,206 5 (3) £63.00 10 Months Story Events Q3 2019 Bermondsey Street 1,150 £69,000 £60.00 Cod & Co
2020
Street SE1
136-148 Wordsearch
Dec 4th & Bridge House
Tooley 2,797 5 £67.50 5 Months Communications Q1 2019 1,480 £60,000 £40.54 Roasting Plant Coffee
2019 5th SE1
Street Ltd
22Tower Bridge Quarter – London SE1
LOCAL
DEVELOPMENTS
1 2
8 5
6
7
Tower Bridge
3
Quarter
1
Tower Bridge Court 47 Tanner Street
Developer: FORE / Landid Developer: Northstar 2
Architect: Stiff + Trevillion Architect: SPPARC
Size: 110,386 sq ft Size: 62,107 sq ft
Completion: 2022 Completion: Awaiting Planning
Approval
3 4 5 6 7 8
EDGE London St. Thomas Street East Red Lion Court New Colechurch House Shard Place Borough Yards
Developer: EDGE Developer: Greystar, Columbia Developer: Landsec Developer: CIT Developer: Sellar Property Group Developer: Meyer Bergman
Architect: Pilbrow & Partners Threadneedle, CIT Group & Sellar Architect: Bjarke Ingels Group Architect: Foster + Partners Architect: Renzo Piano Building Architect: SPPARC
Size: 255,000 sq ft Architect: KPF Architects (BIG) Size: 36,292 sq ft Workshop (RPBW Architects) Size: 115,000 sq ft
Completion: 2024 Size: 255,000 sq ft Size: 324,000 sq ft Completion: - Size: 180,000 sq ft Completion: 2020
Completion: 2024 Completion: 2023 Completion: Autumn 2020
23Tower Bridge Quarter – London SE1
PLANNING & The properties are not listed but they sit within the Tower
CONSERVATION Bridge Conservation Area. There is scope for various
exciting options for changes of use, future extension and
development, subject to planning. A Planning Briefing
note has been included in the Data Room.
24Tower Bridge Quarter – London SE1
ACTIVE MANAGEMENT &
DEVELOPMENT POTENTIAL
Proposed Tower Bridge Road
view looking north east
Tower Bridge Quarter offers an extremely rare opportunity to
acquire freehold an estate of buildings close to an iconic landmark
which is recognised worldwide. In addition, the estate offer
substantial potential to add value:-
Highly reversionary average annual rent of £23.00 psf
Highly adaptable buildings to a variety of mixed uses including
offices, residential, retail and leisure.
Opportunity to create a further c.8,728 sq ft through an additional
storey, subject to planning.
Scope to further increase the floor area by c.3,106 sq ft by expanding
footprint on Horselydown Lane. Proposed Horselydown Lane
view looking north west
The buildings can be re-orientated with quieter entrances with highly
attractive frontages on Horselydown Lane and benefit from the
additional footfall as a result of the 110,386 sq ft Tower Bridge Court
redevelopment next door.
Timing of lease events allows for the scheme to be redeveloped in
manageable blocks at different stages.
Ability to reposition and dispose of the asset in segments at
a premium.
25Tower Bridge Quarter – London SE1
FURTHER VAT
The property is not elected for VAT and it is anticipated
PROPOSAL
Offers are invited in excess of £17.00m which equates
INFORMATION that it will be sold as a TOGC to a Net Initial Yield of 4.92% and a highly attractive
Reversionary Yield of 6.97% at a low capital value of
£432 psf.
EPC
EPC’s for each of the individual units are available to
view in the data room.
26VIRTUAL TOURS
To take a Virtual Tour of the properties, click on one of the links below:
224A Tower Bridge Rd 222 Tower Bridge Rd 220 Tower Bridge Rd 218 Tower Bridge Rd 216 Tower Bridge Rd
All Floors G & LG 1st & 2nd G & LG 1st & 2nd All Floors G & LG 1st 2nd
Floors Floors Floors Floors Floors Floor Floor
214 Tower Bridge Rd 212 Tower Bridge Rd 210 Tower Bridge Rd 206-208 Tower Bridge Rd
All Floors G & LG 1st & 2nd G & LG 1st & 2nd All Floors
Floors Floors Floors Floors
CONTACTS
For further information or to arrange an inspection, please contact:
Tom Boggis Ben Hodder
07795 070 676 07880 242 178
tom.boggis@bbgreal.com ben.hodder@bbgreal.com
MISREPRESENTATION ACT 1967 BBG Real Estate Advisers LLP as agents for the vendor, or as the case may be, Lessor (the “Vendor”) and for themselves, give notice that (1) These particulars are given merely
as a general guide to the property. They are not and shall not hereafter become part of any offer or contract. (2) The statements herein are made in good faith but without any responsibility whatsoever on
the part of the Vendor, BBG Real Estate Advisers LLP or their servants. It is for the purchaser or as the case may be Lessee (the “Purchaser”) to satisfy himself by inspection or otherwise as to their accuracy
and fullness, he must not in entering into contract or otherwise rely upon the particulars as statements or representations of fact. (3) The Vendor does not make or give and neither BBG Real Estate Advisers
LLP nor their servants has any authority, express or implied, to make or give any representations or warranties in respect of the property. (4) In the event of any inconsistency between these Particulars and the
Conditions of Sale, the latter shall prevail. The market statistics, rental and investment comparables, have been supplied by third parties and their accuracy cannot be guaranteed. November 2020.
Designed and produced by Cre8te – 020 3468 5760 – cre8te.londonYou can also read
