Retail premises for sale in Blackheath Road, London SE10

Guide price £800,000 (£246.15/sq. ft)
Interested in this property? Call +44 20 8115 7729 * or Request Details

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Retail premises for sale 3,250 sq. ft*
Tenure: Leasehold Service charge: Not available Time remaining on lease: Not available Council tax band: Not available Ground rent: Not available

Property features

  • Recently vacated commercial unit
  • Fronts the busy Blackheath Road (A2)
  • Benefits from flexible 'E' use class
  • Measures c. 3,325 sqft over ground & lower ground floors
  • Guide price: £800,000 long leasehold

Property description

A highly prominent commercial unit for sale, likely to be of interest to both owner-occupiers and investors.

The unit is arranged over the ground & lower ground floors of an attractive mixed-use period building, occupying a prominent position on the corner of Blackheath Road (A2) and Catherine Grove.

The current configuration means that number 17 (which is the double-fronted unit on the left hand side) is separated from number 19-21 (double-fronted unit on the right hand side) as a partition wall has been erected down the middle. That being said, both spaces could be amalgamated again with ease, in order to provide a single open-plan unit. Alternatively partition walls could be erected in multiple places to create more smaller self-contained units in accordance with an occupiers needs. Please see schedule of accommodation (left) with a breakdown of each units floor sizes etc.

The property benefits from the flexible 'E' use class, which means it could be used for a variety of purposes, including the likes of: Retail, financial & professional services, restaurant & café, office, institutional (ie. Clinics, health centres, nurseries etc) and also assembly & leisure (ie. Gymnasiums etc).

The accommodation has most recently been used for the purposes of training & recruitment (is fit-out as offices). Benefitting from very strong floor to ceiling heights (including on the lower ground floor), and natural light from the rear (together with some natural light into the lower ground floor too) the unit is in good condition throughout. Amenities include: Air conditioning, gas central heating, LED lighting, suspended ceilings, toilets, a kitchen, a shower, glass meeting rooms, and hard-wired security & fire alarms.

The long leasehold property is available to purchase with vacant possession. The lease has approximately 116 years unexpired, and the ground rent is £500 per annum.

Investment Consideration

The unit was most recenty let for £72,000 per annum. We believe the current market rental value to be £65,000 per annum, which is equal to approx. £19.50 psqft. If the property was re-let for market rent, a purchase at the guide price would reflect a giy (Gross Initial Yield) of 8.13%.

Property info

* Sizes listed are approximate. Please contact the agent to confirm actual size.

Arrange Viewing

For more information about this property, please contact
Acorn - Bromley Commercial, BR2 on +44 20 8115 7729 * (local rate)

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Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by Acorn - Bromley Commercial, and do not constitute property particulars. Please contact Acorn - Bromley Commercial for full details and further information. The Running Costs data displayed on this page are provided by PrimeLocation to give an indication of potential running costs based on various data sources. PrimeLocation does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions, related information or Running Costs data provided here.

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