Current landowner the Canal & River Trust is looking for a new landlord for the Royal Armouries Museum.
But, it’ll cost you.
As the asking price for the famous site on The Docks is currently a whopping £11.69 million.
The Canal & River Trust currently has the freehold on the South Bank site, which includes the Royal Armouries Museum as well as a 1,500 space multi storey car park, a hotel, 350 high-end residential apartments, 94,000 sq ft of office space and the New Dock Hall conference centre.
So it’s fair to say you’ll get a lot of bang for your buck.
The museum is subject to a lease for the next 971 years that is secured by the government and is therefore guaranteed to stay open.
Avison Young, who have been hired to market the iconic property, say that the museum produces an average income of £591,500 per year.
David Winterbottom, Principal at Avison Young said: “Royal Armouries National Museum is a high profile, iconic building and it’s rare to be selling a development of such national importance that also benefits from leases of over 900 years on unexpired terms.
“We expect a lot of interest in the asset from a mix of traditional investors, together with some high-net-worth individuals who will be attracted by the opportunity which is underpinned with long term income, vacant possession value and sub income from underleases.”
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Featured image – Royal Armouries Museum
