- FREEHOLD COMMERCIAL INVESTMENT
- RESTAURANT/OFFICE BUILDING
- CURRENTLY PRODUCING £78,500 PA
- POTENTIAL FOR EXTENSION AND RESIDENTIAL CONVERSION (S TO P)
A five-storey period building comprising a ground floor and basement restaurant trading as Copper & Ink together with three floors of self-contained offices above, access being via Cresswell Park. NB. There is provision within both leases for a new staircase to be installed providing access to the upper part from Lee Road. The Lease to Copper & Ink Restaurant is for a term of 15 years from December 2019 expiring 3rd December 2034 inside the Landlord & Tenant Act 1954. There are provisions for rent reviews every 5 years and a tenant only break clause at the anniversary of the fifth year. The tenant contributes 76.38% of the service charge due June each year. There is provision within the lease for "the works" enabling the landlord to install a new staircase to the upper part providing access from Lee Road, by altering the existing shop front. The Lease is subject to a Schedule of Condition. There is a separate Lease in respect of the first, second and third floor offices (2,115 SQ FT) which is for a term of 5 years from 21st October 2018 expiring 20th October 2023 outside the provisions of the Landlord & Tenant 1954. The current rent is £25,500 per annum without review for the remainder of the term. There is a service charge provision set at 23.62% and once again refers to "the works" should the future owners wish to install a new staircase. TOTAL RENTAL INCOME THEREFORE £78,500 PA EX. Subject to planning this space would be ideal for conversion into residential accommodation.
Situated on the east side of Lee Road close to the junction with Lee Terrace and almost opposite Blackheath Railway Station (Charing Cross 15 minutes). Greenwich and the Royal Park lie approximately 1.2 miles to the north and Lewisham a similar distance to the west.