Freehold Shop Investment Property For Sale in Tanner St, London, SE1

This property is marketed by:
Strettons

Virtual freehold, commercial investment, close to Maltby Street Market and Tower Bridge Road, For Sale £285,000

Key Features

• Virtual Freehold 999 years, the headlease commenced in February 2020
• The whole property is occupied on a single lease, outside of the Act, expiring 2043
• Peppercorn ground rent
• Passing rent of £22,000 per annum
• Guaranteed rental increase through stepped rent mechanism and 5 yearly rent reviews
• Close proximity to London Bridge Station and Bermondsey stations

Description

An income producing virtual freehold investment opportunity, situated on Tanner Street SE1, in a residential area within a small parade of independent retailers. The premises comprise ground floor and basement retail space, occupied by an independent operator. The existing lease has 2 years unexpired; the tenant has signed a new 15 year reversionary lease, without break clauses, representing an attractive, long-term investment. This lease is subject to an open market rent review at commencement and subsequent reviews every 5th year, linked to RPI (collar 2%, cap 5% per annum, compounded).

The property is in a prime location on Tanner Street, close to Maltby Street Market, Bermondsey Street and Bermondsey Square. The surrounding area offers a mix of office and residential environment, with a wealth of independent coffee shops, cafes, restaurants and bars nearby. It is within close walking distance of London Bridge and Bermondsey stations, offering excellent connections via National Rail and the Northern and Jubilee lines.