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86 Lewisham High St 2,740 SF Retail Building London SE13 5JH $1,922,300 CAD ($701.57 CAD/SF) 9.15% Cap Rate
Investment Highlights
- Occupies a strategic position on the eastern side of Lewisham High Street
- Comprises the ground floor of a mixed-use parade
- Well configured to the tenant in situ
- A well-established street market operates on Lewisham High Street
Executive Summary
Investment Summary
•Lewisham is a vibrant and densely populated borough in south east London, located approximately 6 miles south east of Central London.
•The area benefits from strong transport infrastructure, with fast travel to Central London and surrounding boroughs.
•Lewisham is one of the most densely populated London local authorities and was designated the Mayor’s London Borough of Culture.
•The Borough has undergone substantial regeneration, with recent and planned developments totalling approximately £2 billion.
•The property is let entirely to Power Leisure Bookmakers Ltd t/a Paddy Power until 10 October 2034 at a current rental of £88,000 per annum.
•The lease is guaranteed by Flutter Entertainment PLC, a company with $15.44 billion of revenue (Financial Times).
•There is a tenant break option on 11 October 2029.
•The lease is subject to an upwards-only open market rent review on 11 October 2029.
•We would apply an ERV of £100,677 per annum to the unit, reflecting £111 Zone A. Further information available upon request. We are instructed to seek offers in excess of £1,040,000 (One Million and Forty Thousand Pounds Pounds), subject to contract and exclusive of VAT. A purchase at this level reflects a net initial yield of 8%, assuming standard purchaser’s costs. Adopting an ERV of £100,677 per annum, a purchase at quoting terms would reflect a reversionary yield of 9.15% in October 2029.
•Lewisham is a vibrant and densely populated borough in south east London, located approximately 6 miles south east of Central London.
•The area benefits from strong transport infrastructure, with fast travel to Central London and surrounding boroughs.
•Lewisham is one of the most densely populated London local authorities and was designated the Mayor’s London Borough of Culture.
•The Borough has undergone substantial regeneration, with recent and planned developments totalling approximately £2 billion.
•The property is let entirely to Power Leisure Bookmakers Ltd t/a Paddy Power until 10 October 2034 at a current rental of £88,000 per annum.
•The lease is guaranteed by Flutter Entertainment PLC, a company with $15.44 billion of revenue (Financial Times).
•There is a tenant break option on 11 October 2029.
•The lease is subject to an upwards-only open market rent review on 11 October 2029.
•We would apply an ERV of £100,677 per annum to the unit, reflecting £111 Zone A. Further information available upon request. We are instructed to seek offers in excess of £1,040,000 (One Million and Forty Thousand Pounds Pounds), subject to contract and exclusive of VAT. A purchase at this level reflects a net initial yield of 8%, assuming standard purchaser’s costs. Adopting an ERV of £100,677 per annum, a purchase at quoting terms would reflect a reversionary yield of 9.15% in October 2029.
Property Facts
Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Property Subtype
Storefront Retail/Residential
Building Size
2,740 SF
Building Class
B
Year Built
1963
Price
$1,922,300 CAD
Price Per SF
$701.57 CAD
Cap Rate
9.15%
NOI
$175,890 CAD
Tenancy
Single
Building Height
3 Stories
Building FAR
0.37
Lot Size
0.17 AC
Amenities
- 24 Hour Access
- Security System
- Signage
- Storage Space
- Smoke Detector
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Nearby Major Retailers
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Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
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Street
Map
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86 Lewisham High St
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