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Mill St - New Concordia Wharf 715 sq ft Office / Retail Unit Offered at £350,000 in London SE1 2BB
Investment Highlights
- Approximately 800 metres from two stations
- Converted Victorian warehouse
- River Neckinger frontage
Executive Summary
New Concordia Wharf is a converted Victorian warehouse development on Mill Street, fronting the River Neckinger close to its connection with the River Thames. The property forms part of an established mixed commercial and residential area characterised by converted warehouse buildings and is approximately 800 metres from both London Bridge and Tower Hill stations.
1 Unit Available
- Unit
- Unit Size
- Unit Use
- Price
- NOI
| Sale Type | Investment | Tenure | Long Leasehold |
| Net Initial Yield | 7.16% |
| Sale Type | Investment |
| Net Initial Yield | 7.16% |
| Tenure | Long Leasehold |
Description
A newly refurbished, ground floor office situated within the award-winning New Concordia Wharf. The office boasts numerous character features, including wood flooring, exposed beams and brickwork, and striking metal columns. Other features include a private, newly-fitted kitchenette, alarm system, and private entrance.
Sale Notes
Long leasehold office investment for sale within the New Concordia Wharf development on Mill Street, SE1. The property comprises a self-contained ground-floor Class E unit extending to 715 sq ft (66.4 sq m) NIA and is situated within a converted Victorian warehouse.
The investment is let on a six-year lease from 7 July 2022 at a passing rent of £26,000 per annum exclusive, reflecting a rent of approximately £36.36 per sq ft. The lease is contracted outside the security of tenure provisions of the Landlord and Tenant Act 1954, and a tenant deposit of £11,500 is held.
The property is held on a 999-year long leasehold interest from October 2015, providing approximately 988 years unexpired. Offers are sought in excess of £350,000, reflecting a net initial yield of 7.16% after purchaser's costs. The premises are not elected for VAT.
Located close to Butler’s Wharf and the River Thames, the property benefits from good connectivity, with London Bridge and Tower Hill stations approximately 800 metres away. The accommodation features wooden flooring, exposed timber beams, exposed brickwork, kitchenette facilities, WCs and an alarm system.
The investment is let on a six-year lease from 7 July 2022 at a passing rent of £26,000 per annum exclusive, reflecting a rent of approximately £36.36 per sq ft. The lease is contracted outside the security of tenure provisions of the Landlord and Tenant Act 1954, and a tenant deposit of £11,500 is held.
The property is held on a 999-year long leasehold interest from October 2015, providing approximately 988 years unexpired. Offers are sought in excess of £350,000, reflecting a net initial yield of 7.16% after purchaser's costs. The premises are not elected for VAT.
Located close to Butler’s Wharf and the River Thames, the property benefits from good connectivity, with London Bridge and Tower Hill stations approximately 800 metres away. The accommodation features wooden flooring, exposed timber beams, exposed brickwork, kitchenette facilities, WCs and an alarm system.
| Unit | Unit Size | Unit Use | Price | NOI |
| Unit Unit 2 | 715 sq ft | Office / Retail | £350,000 (£489.51/sq ft) | £25,060 |
Unit Unit 2
| Unit Size |
| 715 sq ft |
| Unit Use |
| Office / Retail |
| Price |
| £350,000 (£489.51/sq ft) |
| NOI |
| £25,060 |
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Unit Unit 2
| Unit Size | 715 sq ft |
| Unit Use | Office / Retail |
| Price | £350,000 (£489.51/sq ft) |
| NOI | £25,060 |
| Sale Type | Investment |
| Net Initial Yield | 7.16% |
| Tenure | Long Leasehold |
| Description | |
| A newly refurbished, ground floor office situated within the award-winning New Concordia Wharf. The office boasts numerous character features, including wood flooring, exposed beams and brickwork, and striking metal columns. Other features include a private, newly-fitted kitchenette, alarm system, and private entrance.</li></ul> | |
| Sale Notes | |
| Long leasehold office investment for sale within the New Concordia Wharf development on Mill Street, SE1. The property comprises a self-contained ground-floor Class E unit extending to 715 sq ft (66.4 sq m) NIA and is situated within a converted Victorian warehouse.<br> <br> The investment is let on a six-year lease from 7 July 2022 at a passing rent of £26,000 per annum exclusive, reflecting a rent of approximately £36.36 per sq ft. The lease is contracted outside the security of tenure provisions of the Landlord and Tenant Act 1954, and a tenant deposit of £11,500 is held.<br> The property is held on a 999-year long leasehold interest from October 2015, providing approximately 988 years unexpired. Offers are sought in excess of £350,000, reflecting a net initial yield of 7.16% after purchaser's costs. The premises are not elected for VAT.<br> <br> Located close to Butler’s Wharf and the River Thames, the property benefits from good connectivity, with London Bridge and Tower Hill stations approximately 800 metres away. The accommodation features wooden flooring, exposed timber beams, exposed brickwork, kitchenette facilities, WCs and an alarm system.</li></ul> |
Property Facts
The following property facts and amenities apply to the entire building. Details for individual condo units may vary and are listed in the unit information above.
| Total Property Size | 34,636 sq ft | Typical Floor Size | 3,824 sq ft |
| Property Type | Office (Unit) | Year Built | 1889 |
| Costar Property Class | B | Total Plot Size | 0.65 ac |
| Floors | 9 |
| Total Property Size | 34,636 sq ft |
| Property Type | Office (Unit) |
| Costar Property Class | B |
| Floors | 9 |
| Typical Floor Size | 3,824 sq ft |
| Year Built | 1889 |
| Total Plot Size | 0.65 ac |
Amenities
- Courtyard
- Fitness Centre
- Security System
- Waterfront
- Kitchen
- Accent Lighting
- Roller Shutters
- Central Heating
- Demised WC facilities
- Open-Plan
- Perimeter Trunking
- Recessed Lighting
- Secure Storage
- Shower Facilities
- Wooden Floors
- Air Conditioning
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Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
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Mill St - New Concordia Wharf
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