8 - 12 Lee High Road Lewisham London SE13 5LQ

  • 8 - 12 Lee High Road<br>Lewisham<br>London<br>SE13 5LQ

8 - 12 Lee High Road
Lewisham
London
SE13 5LQ

Freehold Retail and Dental Surgery/Office Investment

  • First time on the market for approximately 50 years
  • Three retail units (let to two tenants) with Dental Surgery on first and second floors
  • Tenants include Ladbrokes and Lewisham Dental Practice
  • Prominent location close to Lewisham Shopping Centre
  • Nearby occupiers include Nando's, Barclays & HSBC banks with Marks & Spencer, Costa and Boots the Chemist also represented closeby
  • Potential to Convert Upper Parts to Residential (subject to leases and consents)
  • Popular south-east London suburb
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot
    5
  • Auction
    16th February 2017
  • Rent
    £103,500 per Annum Exclusive
  • Status
    Sold
  • Price
    £2,200,000
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
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Freehold Retail and Dental Surgery/Office Investment

  • First time on the market for approximately 50 years
  • Three retail units (let to two tenants) with Dental Surgery on first and second floors
  • Tenants include Ladbrokes and Lewisham Dental Practice
  • Prominent location close to Lewisham Shopping Centre
  • Nearby occupiers include Nando's, Barclays & HSBC banks with Marks & Spencer, Costa and Boots the Chemist also represented closeby
  • Potential to Convert Upper Parts to Residential (subject to leases and consents)
  • Popular south-east London suburb
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot 5
  • Auction 16th February 2017
  • Rent £103,500 per Annum Exclusive
  • Status Sold
  • Price £2,200,000
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG

Property Information

Location
Miles
1.5 miles south of Greenwich, 2 miles west of Blackheath Village, 6 miles south-east of the City of London
Roads
A20, A21
Rail
Lewisham Railway Station (DLR & National Rail)
Air
London City Airport
Situation

The property is situated on the southern side of Lee High Road which connects to Lewisham High Street, in the heart of Lewisham town centre. Lewisham Shopping Centre is less than 200m away housing stores including Marks & Spencer, Sainsbury's, Costa Coffee, Primark, Boots the Chemist, Superdrug, WHSmith, Iceland and Next. Other occupiers in Lewisham include Lidl, Poundland, Nando's and Savers.

Tenure

Freehold.

Location
Miles
1.5 miles south of Greenwich, 2 miles west of Blackheath Village, 6 miles south-east of the City of London
Roads
A20, A21
Rail
Lewisham Railway Station (DLR & National Rail)
Air
London City Airport
Situation

The property is situated on the southern side of Lee High Road which connects to Lewisham High Street, in the heart of Lewisham town centre. Lewisham Shopping Centre is less than 200m away housing stores including Marks & Spencer, Sainsbury's, Costa Coffee, Primark, Boots the Chemist, Superdrug, WHSmith, Iceland and Next. Other occupiers in Lewisham include Lidl, Poundland, Nando's and Savers.

Tenure

Freehold.

Description

The property comprises three ground floor retail units, with a self-contained refurbished dental surgery (with 6 surgery rooms) on the first and second floors, accessed from the front.

VAT

VAT is not applicable to this lot.

Completion Period

Six Week Completion

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

The property comprises three ground floor retail units, with a self-contained refurbished dental surgery (with 6 surgery rooms) on the first and second floors, accessed from the front.

VAT

VAT is not applicable to this lot.

Completion Period

Six Week Completion

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Unit Floor Use Floor Areas (Approx) Tenant Term Rent p.a.x Review
8/10 Ground Retail/
Ancillary
104.88 sq m
(1,129 sq ft)
 LADBROKES
BETTING &
GAMING LIMITED
(1)		 5 years from
26/02/2017 until
25/02/2022 (2)		 £35,500 -
10/12 Ground Retail/
Restaurant
172.79 sq m
(1,860 sq ft)
 ALL 2 ONE
(LEWISHAM)
LIMITED
(t/a All2One/Squires)		 20 years from
01/05/2014 until
30/04/2034		 £35,000 rising
to £42,500 in
May 2019		 01/05/2024
8-12 First Dental
Surgery/
Offices
196.99 sq m
(2,120 sq ft)
 LEWISHAM DENTAL
PRACTICE LIMITED
with personal
guarantees		 Approximately
12 years and 9
months from
11/12/2012 until
16/09/2025		 £20,000 17/09/2020
8-12 Second Dental
Surgery/
Offices
128.43 sq m
(1,382 sq ft)
 LEWISHAM DENTAL
PRACTICE LIMITED
with a personal
guarantee		 15 years from
17/09/2010 until
16/09/2025		 £13,000 17/09/2020
Totals    
603.09 sq m
(6,491 sq ft)
     £103,500  

(1) For the year ending 31st December 2015, Ladbrokes Betting & Gaming Limited reported a turnover of £830,679,000, pre-tax profits of £49,866,000 and a total net worth of £1,191,903,000 (Source: Experian Group 12/12/2016).
(2) The original lease to Ladbrokes Betting & Gaming Limited was for a term from February 2007 expiring in February 2017, but a lease renewal has recently been completed for a new lease for a term of 5 years to expire in February 2022.

Contacts

Acuitus
David MargolisDavid Margolis +44 (0)20 7034 4862 +44 (0)7930 484 440david.margolis@acuitus.co.uk
Seller's Solicitors
Brecher LLP 4th Floor, 64 North Row
London
W1K 7DA
Dominic Whelan 020 7563 1593dwhelan@brecher.co.uk

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk
AquillaNatasha Ward+44 (0)20 3159 4314+44 (0)7545 208 759natashaw@aquillaib.co.uk

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