Cambridge House provides an exciting opportunity to acquire a large, freehold site in the heart of Camberwell offering flex office space with alternative use potential.
- Camberwell is located in Southwark, a pro-development London borough with over £3 billion of inward investment to drive growth.
- The surrounding area is subject to significant regeneration which will provide new homes, better transport, improved amenity and create thousands of new jobs.
- Camberwell benefits from access to three underground stations and Denmark Hill railway station, all within one mile of Cambridge House.
- Camberwell’s surging cultural scene and high economic activity rate makes it a highly attractive business location.
- Cambridge House comprises a collection of period and modern buildings on a 0.4 acre site providing 18,396 sq ft NIA (27,369 sq ft GIA) of flex office space over ground and six upper floors.
- Diverse income profile with forecasted net operating income of £409,849 per annum.
- Significant potential to improve the overall efficiency of the building whilst enhancing the rental tone through accretive asset management initiatives and greater utilisation of the space.
- Future alternative use potential (subject to planning) with part of the property comprising five former Georgian terraced houses.
- The property is held freehold.
Offers are sought in excess of £4,500,000 (Four Million, Five Hundred Thousand Pounds) subject to contract and exclusive of VAT.
A purchase at this level reflects an attractive forecasted operating yield of 8.55% exclusive of purchaser’s costs of 6.57% and a low capital value of £245 per sq ft.