Guide price
£800,000
Property for sale79 Lewisham High Street, Lewisham, London SE13
Acorn - Bromley Commercial
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About this property
Freehold, mixed-use property for sale in Lewisham
Retail unit let by Timspon & sub-let by Snappy Snaps
New Fri lease agreed for further 10 years at £19,150 p/a
Consent to convert & extend uppers to provide four x 1-bedroom flats
Conversion over 1st-3rd floors and airspace extension to provide 4th floor
Guide Price - £800,000 f/h
An opportunity to purchase a mixed-use freehold investment & development opportunity well located in a prime Central Lewisham location.
The property offered currently comprises a five storey (Basement-3rd floor) mixed-use freehold property located in the heart of Lewisham town centre. The ground and basement retail unit has a new 10-year Fri lease agreed at an annual rent of £19,150 to Timpson who in turn sub-let to a Snappy Snaps franchisee (who has occupied since 2004).
The first, second and third floors are largely vacant and benefit from full planning permission to convert into 3 one-bedroom flats with a further 1 one-bedroom unit also consented via a one storey airspace extension.
The owners of the property have paid the cil, undertaken structural calculations for the airspace extension as well as soil reports and exposure works providing a prospective purchaser with an 'oven ready' development project in the upper parts and a strong investment covenant in the retail unit below.
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This calculation is intended as a guide only. We are unable to provide financial advice, so it's important to consult with an adviser. It applies to UK residents purchasing residential properties in England and Northern Ireland, but does not apply if the purchase is made through a company.
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