London ‘The Stage Hotel’ Project V.1.
Potential Site Details
The Asset
Located in a highly prominent position on Borough High Street moments from Borough Market, Borough Yards, the Shard Quarter, London Bridge mainline station, London Bridge tube and Borough tube stations and numerous commercial and corporate occupiers. Registered pre-emption right to purchase the Freehold (Title LN12057) interest in the hotel development site.
Long leasehold interest in a demolished hotel development site with full planning permission implemented by the Freeholder. Freeholder in a contractual agreement to build the hotel to shell and core with the usual Leaseholder fit-out obligations. Long Leasehold (Title TGL492547) with security of tenure from 21 December 2017. The Leasehold is within the Landlord and Tenant 1954 Act.
The leaseholder has a registered right to security over the Freehold of the hotel development site by way of a second charge on the freehold. The leasehold interest permits the leaseholder to sublet the restaurant(s) and/or bar(s) and/or the roof terrace without the freeholder’s consent and all or any of those parts can be sublet for up to the full term of the long leasehold.
Sale of the long leasehold interest utilizing a share purchase of the UK Registered SPV Company.
Implemented full planning permission (LBS 15/AP/4980) for a 7-story luxury hotel (with basement) of GIA 23,125 sq. ft (2,148 sqm), comprising 50 bedrooms with A1/A3 bars and restaurant on the ground floor and lower ground floor and the roof terrace.
Details
The leasehold hotel development site is prominently located on Borough High Street and is a short walk from the City and well-known London attractions such as Borough Market, Borough Yards and the Shard Quarter. The site is opposite the junction with Union Street and benefits from direct access to Borough High Street. It is moments from London Bridge tube and Borough tube stations, as well as London Bridge mainline train station.
The site location means it is close to many corporate occupiers who are situated in the London Bridge and surrounding area, including More London where EY and PWC are located. It is also perfectly situated for walkable access to the City of London and several of London’s most iconic leisure and tourist attractions on the South Bank.