Wed, 23 Oct 2013 | COMMERCIAL PROPERTY
Southwark Council is to sell one of its commercial properties after deciding that it makes economic sense to divest the empty building and use the cash elsewhere.
The property is a Grade-II listed building which was initially used as part of the council's housing stock, while the self-contained basement area was used as an office. Originally, the property, which dates from the 1820s, is thought to have housed the managers and directors of the Anchor Brewery, one of the biggest breweries in the world at the time.
Fiona Colley, councillor and cabinet member for regeneration, told 24dash: “The costs of repair and refurbishment, coupled with the sale price mean that selling this building was always the best option. The receipt will contribute to our new 11,000 council house building programme.”
The auction of the property has a guide price of at least £2.3 million. Whoever buys the property is likely to have to spend a substantial amount on top of this in order to sort out the structural repairs and refurbishment that the property is in need of. There is also the issue of ensuring that listed building consent and planning matters are carefully considered with regards to the building's architectural and historical context.
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LEASEHOLD
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