Share This Listing

Message

964 characters remaining

Hmm, there seems to have been an error sending your message. Please try again.

Your email has been sent.

Still interested?

Contact the agents for more information about this property

8-20 Pocock St 13,759 sq ft Office Unit Offered at £7,000,000 in London SE1 0BW

Save this listing!

Favourite this listing to get notified of price updates, new media and more

Investment Highlights

  • 13,759-square-foot office accommodation across the ground and first floors of an eight-storey residential building (owned separately).
  • Features dual street-level entrances with exposed services, lift access, WCs, suspended ceilings, bike storage, and refurbishments in 2017/2023.
  • Robust income streams in place, let to The Secretary of State for Communities & Local Government and VF Services Limited.
  • 8-20 Pocock Street is located within a two-minute walk of Southwark Station and is accessible via London Waterloo and Borough Station.
  • High-yielding asset with future rental growth prospects and asset management opportunities, currently bringing in £672,407.50 of net annual income.
  • Offers are invited in the region of £7,000,000 for the Long Leasehold interest, subject to contract and exclusive of VAT, reflecting an NIY of 9%.

Executive Summary

8-20 Pocock Street offers 13,759 square feet of high-quality office accommodation across the ground and first floors of a modern, eight-storey building completed in 2000. Above the first floor, the property is separately held under a long leasehold interest by Sanctuary Housing Association. The space benefits from dual street-level entrances with step-free access, and features a mix of exposed services and suspended ceilings, full access raised floors, and air conditioning. Both floors are served by a disabled access lift and include male, female, and accessible WCs, as well as shower and cycle storage facilities. The ground floor was fully refurbished by the landlord in 2023, delivering upgraded lighting, air conditioning, newly built meeting rooms, shower facilities, and a secure bike store. The first floor underwent comprehensive tenant-led refurbishment works in 2017 as part of a lease renewal. This modernisation ensures the building meets the requirements of today’s occupiers. The property is fully let to two strong tenants. The Secretary of State for Communities & Local Government occupies 7,542 square feet across part of the ground floor and the entire first floor, providing a secure, government-backed covenant. VF Services Limited, a European subsidiary of VF Worldwide Holdings Limited, leases 6,217 square feet on the ground floor and holds a Creditsafe Rating of A78, indicating “Very Low Risk.” Together, the tenants generate a net income of £672,407.50 per year. 8-20 Pocock Street benefits from exceptional connectivity. It is within walking distance of five underground stations and three mainline stations, as well as a number of major bus routes and arterial roads. The property is situated within 200 metres of Southwark Underground Station, which provides access to the Jubilee Line, and is only six minutes to Bond Street Station in London Mayfair.

Property Facts

Total Property Size 13,785 sq ft
Property Type Office (Unit)
Property Subtype Office / Residential
Costar Property Class B
Floors 8
Typical Floor Size 6,880 sq ft
Year Built 2000
Total Plot Size 0.53 ac

Amenities

  • Wheelchair Accessible
  • Storage Space
  • Air Conditioning

1 Unit Available

Unit Ground and First

Unit Size 13,759 sq ft
Price £7,000,000
Price Per sq ft £508.76
Unit Use Office
Sale Type Investment
Tenure Long Leasehold
Net Initial Yield 9.00%
NOI £630,075
Description

8-20 Pocock Street comprises 13,759 square feet of office accommodation arranged over the ground and first floor of an eight-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, Sanctuary Housing Association.

The office specification includes the following:

- Both floors benefit from their own dedicated step-free entrances at street level
- A mixture of exposed services and suspended ceilings
- Full access raised floors
- Disabled access lift
- Male, female and disabled WCs on each floor
- Air conditioning
- Shower and cycle storage facilities

The first floor underwent full comprehensive tenant refurbishment works in 2017, at lease renewal.

The ground floor also underwent full landlord refurbishment in 2023, including new air-conditioning, lighting, meeting rooms, bike store, WCs, and showers.

Sale Notes

Offers are invited in the region of £7,000,000 for the Long Leasehold interest, subject to contract and exclusive of VAT. Held on a Long Leasehold from Sanctuary Housing Association for a term of 150 years from 1st September 2000 at a peppercorn ground rent, providing approximately 125 years term certain.

Major Tenant Information

TENANT sq ft Occupied LEASE END DATE
The Secretary of State for Communities & Local Gov 7,542 sq ft February 2027
VF Services Ltd 6,217 sq ft December 2029
  • Listing ID: 36512185

  • Date on Market: 19/09/2023

  • Last Updated:

  • Address: 8-20 Pocock St, London SE1 0BW

Link copied
Your LoopNet account has been created!

Please Share Your Feedback

We welcome any feedback on how we can improve LoopNet to better serve your needs.
X
{{ getErrorText(feedbackForm.starRating, "rating") }}
255 character limit ({{ remainingChars() }} charactercharacters remainingover)
{{ getErrorText(feedbackForm.msg, "rating") }}
{{ getErrorText(feedbackForm.fname, "first name") }}
{{ getErrorText(feedbackForm.lname, "last name") }}
{{ getErrorText(feedbackForm.phone, "phone number") }}
{{ getErrorText(feedbackForm.phonex, "phone extension") }}
{{ getErrorText(feedbackForm.email, "email address") }}