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Tooley Street, London SE1

London

£1,200,000
Listed on 19/05/2024

Property Details

Bedrooms
N/A
Type
Detached house
Area
3981 sqft

Description

This property consists of a robust masonry building with six levels, including both lower ground and ground floors. The ground and lower ground floors are currently utilized for retail purposes, leased to a hospitality business, featuring an open-plan layout complemented by seating areas, a kitchen, and storage space at the rear. The upper floors—first through fourth—offer office accommodation with a flexible open-plan design, enhanced by ample natural light and generous ceiling heights. Situated in a highly sought-after location, the property benefits from excellent transport connections. It is just a short stroll from the newly revamped London Bridge Station, with convenient access to various bus routes and London Underground services. Additionally, it is within walking distance of vibrant spots such as Borough Market, Butlers Wharf, Bermondsey Street, and Maltby Street Market, all known for their diverse dining options and lively atmosphere. The Unicorn Theatre lies directly across the street, adding to the area’s cultural appeal. In terms of layout specifics, the property encompasses a total of 3,981 square feet (369.89 square meters), distributed as follows: - Lower Ground Floor: 992.43 ft² (92.20 sq.m) - Ground Floor: 893.94 ft² (83.05 sq.m) - First Floor: 909.65 ft² (84.51 sq.m) - Second Floor: 487.06 ft² (45.25 sq.m) - Third Floor: 446.70 ft² (41.50 sq.m) - Fourth Floor: 251.66 ft² (23.38 sq.m) The current lease for the retail space runs until March 2029 and generates an annual rental income of £40,000. This arrangement not only provides immediate financial returns but also presents significant renovation opportunities that could enhance value over time. Given its prime location and flexible layout across multiple levels, this property holds considerable investment potential for those looking to make improvements or capitalize on the growing demand in this vibrant area of London.

Investment Analysis

(SE1 area)

Below Market Value

This property is priced -67.4% below area average per sq ft

-67.4%
Potential saving
This Property
£301/sq ft
Area Average
£925/sq ft
Avg Rent (weekly)
£688
Avg Yield
4.6%

Renovation Potential

Est. Renovation Cost
£120,000 - £300,000
10-25% of property value
Target Value
£4,050,668
10% above area average per sq ft
Potential ROI
+170.0%
After renovation
Monthly Sales
23
Average per month
Market Turnover
6%
Properties sold annually

Local Market Trend (SE1)

Area prices are falling by +2.8% over the last 12 months
3 year growth: -13.2%
5 year growth: -27.7%
Investment Disclaimer: Analysis based on SE1 area averages and may not reflect property-specific factors like condition, exact location, or unique features. Renovation costs vary significantly based on property condition and scope of work. Always conduct professional surveys and get multiple quotes before making investment decisions.

Location

Tooley Street, London SE1
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