156-170 Bermondsey Street, Southwark, SE1, London

The property is located along the trendy Bermondsey Street which was labelled by GQ as ‘the coolest road in the capital’. Bermondsey Street is positioned between Tooley Street and Long Lane, with numerous London landmarks close by including Tower Bridge, More London, The White Cube Gallery, Bermondsey Square and The Shard. London Bridge Station is 0.5 miles away providing access to both London Underground lines (Jubilee and Northern) and National Rail Services. Borough and Southwark Underground Stations are also within walking distance from the property.

The existing tenant is looking to assign their existing lease. The available leasehold interest expires on 23rd June 2018 and the rent is £98,200pax (£40psf). The lease is contracted outside the provisions of the 1954 Landlord and Tenant Act so the incoming tenant will not have automatic rights to renew the lease. A copy of the lease is available upon request.

According to the Summary Valuation effective from 1st April 2010, the rateable value for the property is £35,616.00. We understand that rates payable are therefore approximately £17,558.69 per annum for the period 2012/2013.