5 Lee Road, Blackheath, London, SE3 9RQ

Description

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.