Under Offer

151-157 Tower Bridge Road
London, SE1 3JE

Guide Price £60,000,000

  • 151-157 Tower Bridge Road has resolution to grant planning permission.
  • 47 secure underground car parking spaces.
  • Currently producing an annual revenue of £2.8 million.

Location

London Bridge’s status as a key London district is reinforced by the strength of its transport links, sitting between the West End and Canary Wharf, with a journey time of just six minutes in each direction. The Property benefits from excellent connections, being in close proximity to London Bridge, Borough and Bermondsey, making this an ideal location from which to reach the West End, City of London and Canary Wharf. For guests and residents seeking a more picturesque journey, the City of London is within walking distance via the iconic Tower Bridge, with the heart of the banking and commercial district approximately 2 km (1.2 miles). London Bridge station, the 4th busiest station in the UK, is currently undergoing significant upgrade works. London Bridge is also on the Thameslink rail network, a 68 station mainline route, with regular services running from Luton to Brighton.

Description

The site has a resolution to grant planning permission under reference: 16/AP/3222 by London Borough of Southwark in April 2017. Details of the consent are outlined below: “Alterations to and the refurbishment of the existing buildings, including: change of use from 106 residential units (40 x studios, 36 x 1bed and 30 x 2bed), 41 apart-hotel units/partially vacant apart-hotel floorspace and flexible retail/commercial floorspace, to 69 residential units (8 x1bed, 56 x 2bed and 5 x 3bed), 137 apart-hotel units and flexible retail/commercial floorspace (A1/A2/A3/B1a); installation of balconies; alterations to elevations; minor alterations to increase the height of the buildings (max. 32.3 metres); landscaping; alterations to vehicle access; and associated works.” The current owner purchased the site which was in partially completed condition and in contravention of the original planning application. The vendor has worked with London Borough of Southwark to design a scheme which is summarised below. The full planning submission documentation is available on the project website. - 69 private residential units (8 x 1 bed, 56 x 2 bed and 5 x 3 bed) - 137 unit aparthotel - 981 sq. m. of flexible commercial / retail space Informal discussions / pre-application advice has been sought with Southwark regarding a tower option on the existing site to create a landmark 32 storey structure providing a gateway scheme entering from Tower Bridge into SE1.

* Currencies are changed from British Pound (GBP) to either Euro (EUR) or US Dollar (USD). Rates updated daily at approximately 01:00 hours.

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