118 Burnt Ash Road, Lee, London, SE12 8PU

Description

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