118 Burnt Ash Road, Lee, London, SE12 8PU
not specified / Other
For Sale
- £250,000.00
Under Offer - Last updated: 30 March 2024
A 4 storey Victorian building arranged as commercial space on the ground floor plus 2 self-contained flats, both sold on leases. The ground floor is let to Conran Estates, (part of the Dexters Group of estate agents) paying a very low rent of £13,500 pa subject to review in January 2025.
The 2 flats have been sold on leases, the upper flat having some 58 years unexpired and the basement flat 117 years.
Section 5 Notices served and expired.
Commercial lease, inside the Act for 15 years from 9th January 2020 at £13,500 pa with 5 yearly rent reviews and breaks
Significant rental growth in 2025
Strong commercial tenant
99 year lease on upper flat (118a) from 24th June 1982 therefore having some 58 years unexpired. £50 pa ground rent rising every 33 years
Potential income from lease extension
125 year lease on basement flat (118b) from 25th March 2015 therefore having some 117 years unexpired. £250 pa ground rent rising every 40 years
( Agency Pilot Software ref: 789 )
Property Quote Price(s)
Description | Sale type | Guide price | Price type |
|
For Sale Freehold
|
£250,000.00
| NA |
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