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8-20 Pocock St 13,759 sq ft Office Unit Offered at £7,000,000 in London SE1 0BW
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 £7,750,000 for the Long Leasehold interest, subject to contract and exclusive of VAT, reflecting an NIY of 8.13%.
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 | Floors | 8 |
| Property Type | Office (Unit) | Typical Floor Size | 6,880 sq ft |
| Property Subtype | Office / Residential | Year Built | 2000 |
| Costar Property Class | B | Total Plot Size | 0.53 ac |
| 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 | Sale Type | Investment |
| Price | £7,000,000 | Tenure | Long Leasehold |
| Price Per sq ft | £508.76 | Net Initial Yield | 9.00% |
| Unit Use | Office | NOI | £630,075 |
| 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 £7,00,000 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.
ABOUT SOUTHBANK EAST
London’s Southbank has risen in status as an office destination over the past decade. Its riverside location and proximity to both the West End and the City of London has always made it attractive, but prominent developments such as the Shard Quarter, More London and Bankside Yards have broadened its appeal to companies of all sizes and industry types. Notable office occupiers in the vicinity include EY, News Corp UK, PwC, Omnicom and CoStar Group.
Cultural amenities are plentiful and add to the area’s appeal. The Tate Modern, Shakespeare's Globe Theatre and Borough Market are all located in the neighbourhood. The area has also benefitted from a range of transport improvements in recent years. Redevelopments of the London Bridge and Waterloo stations have made the area more accessible to commuters across the south of England, while Thameslink services have provided fast links to Gatwick Airport and northern home counties. Several tube stations are also located in the area.
Southbank’s success in recent years is evidenced by outsized demand and rent growth compared to the London average. Prices have also appreciated, though buyers can still expect to receive a discount here relative to central locations across the river.
DEMOGRAPHICS
Demographics
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
|
NEARBY AMENITIES
RESTAURANTS |
|||
|---|---|---|---|
| Costa Coffee | - | - | 1 min walk |
| Pret A Manger | Fast Food | $ | 1 min walk |
| Caffe Deniro | Cafe | $ | 3 min walk |
| Tortilla Southwark | Mexican | $ | 4 min walk |
| Bala Baya | Israeli | - | 4 min walk |
| Marcellaio Roberto Costa | Steakhouse | $$$ | 4 min walk |
| Tas at The Cut | Turkish | - | 4 min walk |
| Nando's | - | - | 5 min walk |
| Bread Street Kitchen & Bar | American | - | 4 min walk |
| Chimichurris | Argentine | $$$ | 5 min walk |
RETAIL |
||
|---|---|---|
| Sainsbury's | Supermarket | 1 min walk |
| The Gym | Fitness | 4 min walk |
| Costcutter | Supermarket | 4 min walk |
| Tesco Express | Local Shop | 4 min walk |
| The Gym | Fitness | 5 min walk |
| énergie Fitness | Fitness | 4 min walk |
| Sainsbury's | Supermarket | 5 min walk |
| Tesco Express | Local Shop | 6 min walk |
| Betfred | Other Retail | 6 min walk |
| Tesco Express | Local Shop | 6 min walk |
HOTELS |
|
|---|---|
| Travelodge, UK |
279 rooms
5 min walk
|
| Hampton by Hilton |
332 rooms
5 min walk
|
| Premier Inn |
274 rooms
4 min walk
|
| ibis |
297 rooms
5 min walk
|
| Travelodge, UK |
202 rooms
5 min walk
|
| Novotel |
182 rooms
6 min walk
|
| H10 |
171 rooms
7 min walk
|
SALE ADVISORS
SALE ADVISORS
Sam Hume-Kendall, Associate - Central London Investment
Dominic Amey, Managing Director - London Markets
Dominic joined Avison Young’s London Business as a Principal in 2021 to help grow Avison Young's Central London Investment business, working across the City and West End of London. Prior to that Dominic was a Director at Colliers for 18 years, heading up their West End Investment team from 2012, and then establishing and Heading up their City Investment team in 2018.
Dominic’s clients range from UK funds and Institutions including Legal & General and Aviva, overseas Corporations such as Mitsubishi Estate and NTT, and UK and International private investment companies.
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8-20 Pocock St
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