Office for sale in Units 2 & 3 The Bridge, 334 Queenstown Road, London SW11

Key Points

Description

Units 2 & 3 comprises two ground floor office units which are accessed from either side of a shared entrance on Queenstown Road.

Unit 2 has been sub-divided and is part used as storage accommodation. The larger of the two areas is open plan with a mezzanine floor to the front and male/female and a disabled WC. There is a small kitchenette area to the rear.

Unit 3 provides cellular and open plan office accommodation to the ground floor and has two mezzanine floor levels providing storage accommodation, further office suites, WC’s and a board room.

Unit 2A comprises a ground floor office unit formally used as the management suite by the previous block managing agent. We understand the unit used to form a part of Unit 2 and therefore there is the opportunity of combining both units back into a single unit.

The Property is part-let to hca International Limited t/a Lister Hospital on effective fr&I terms. The lease is for a term of 10 years from and including 12 October 2016. The current rental income is £190,000 per annum with an additional £9,000 per annum for the benefit of 3 car parking spaces.

Unit 2A is vacant.

Location

The property is in an established residential area of Battersea overlooking Battersea Park to the west and immediately adjacent to the Battersea Power Station and Nine Elms Redevelopment project to the east. Battersea Park station, Queenstown Road station and Battersea Park Underground station are a short walk away.

There are a number of commercial units in the ground floor accommodation of near-by developments with occupiers including Knight Frank and Majestic Wine. There is a Little Waitrose/Shell Service Station immediately adjacent at the Queenstown Road roundabout.

Terms

We are seeking offers in excess of £2,000,000 for the long leasehold interest, subject to contract and exclusive of VAT, reflecting a Net Initial Yield of 9.36%.

Please note there is also an opportunity to acquire 3 additional car parking spaces subject to discussions on price and details of which can be provided upon request.