Summary - 69, LEE HIGH ROAD SE13 5NS
1 bed 1 bath Retail Property (high street)
Freehold Victorian parade with strong reversionary and redevelopment potential..
- Freehold mixed-use Victorian building, c.2,919 sqft over three storeys
- Current passing rent £25,000 p.a.; ERV c.£86,250 p.a. (significant upside)
- Two vacant flats above sold with vacant possession; require full modernisation
- Shops under‑rented with outstanding 3‑yearly rent reviews (outside 1954 Act)
- Lapsed rear extension consent (Ref: DC/16/098404); not in conservation area
- Medium flood risk; located in a high‑crime, deprived local area
- Small plot and limited external amenity; redevelopment subject to STP
- Excellent mobile signal and fast broadband supporting modern conversions
A prominent three-storey Victorian high‑street building offering a clear value‑add investment in Lewisham. The freehold includes two ground-floor retail units producing a combined current rent of £25,000 p.a., with two upper flats sold with vacant possession and in need of modernisation. The shops are materially under‑rented and have outstanding rent reviews, creating near-term reversionary upside.
Extending to c.2,919 sq ft with a large rear terrace and no conservation restrictions, the property is suitable for asset management, refurbishment or redevelopment (STP). Lapsed rear extension consent (Ref: DC/16/098404) and the possibility to reconfigure internal circulation (central staircase) offer practical routes to increase lettable income — the vendor’s estimate of ERV is c.£86,250 p.a.
Buyers should be aware of the material constraints: the building requires renovation throughout, the area has higher crime and relative deprivation, and there is a medium flood risk. Both commercial leases sit outside the 1954 Act and have outstanding rent reviews, which brings uplift potential but also negotiation and timing considerations. This is a hands‑on opportunity for an investor or developer prepared to manage refurbishment and leasing drive‑through.
For an investor seeking reversionary income and redevelopment scope on a busy high street, this freehold offers scale, location and multiple value‑creation levers, balanced by clear workstreams for refurbishment, lease management and local-market risks.
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