Lee High Road, Lewisham, London, SE13

For Sale: Two Freehold mixed-use buildings with significant development potential and attractive capital value in the heart of SE London.

The subject property is located in the London Borough of Lewisham and comprises two adjoining mixed-use properties arranged over three floors. There are two separate Tenancies being two commercial leases, the total rent passing is currently £25,000 per annum providing a good degree of running income with two unactioned open market rent reviews.

The property is suitable for local developers looking for their next add-value opportunity on a subject-to-planning basis. There is potential to significantly increase the existing commercial envelope consisting of the extension of to the rear of 67 Lee High Road alongside the potential removal of the central staircase to generate a significant, open-plan commercial unit (STPP). The property does not fall within a conservation area and benefitted from planning permission which has since lapsed (Ref No: DC/16/098404).

67 Lee High Road – The ground floor unit is let on a 10-year lease from 15th February 2019 at a passing rent of £12,000pa. There are rent reviews on each 3rd anniversary.
69 Lee High Road – The ground floor unit is let on a 15-year lease from 1st November 2013 at a passing rent of £13,000pa. There are rent reviews on each 3rd anniversary.
We understand that both leases are contracted outside of the provision of Section 28 of the 1954 LTA Act.

One Residential unit is vacant with the other under notice, each will be provided with vacant possession on completion of the legal formalities.

The subject property is located on the northern end of Lee High Road near Lewisham High Street and is a busy thoroughfare for local trade enjoying high levels of vehicular and pedestrian traffic. There is an excellent level of local amenities including Marks and Spencer’s, H&M, McDonald’s and Iceland that all surround Lewisham’s famous open-air market that hosts a wide range of local traders. Lewisham is very well connected to Central London offering fast and efficient mainline services into Victoria, Cannon St and Charing Cross.