An opportunity to purchase a prominent freehold property located in the centre of Sidcup High Street comprising a large ground floor commercial unit and four flats on first and second floors which are sold off on a long leasehold basis.
The Ground floor commercial unit is currently let to Loungers UK Limited on a brand new 15-year FRI lease from January 2024 and therefore has 13 years unexpired at a current passing rent of £85,000 per annum with 5 yearly upward only, market rent reviews (January 2029 & January 2034). The four flats which are located across first and second floor levels offer reversionary value as they are owned on 99-year leases which commenced in September 1980 meaning they currently have 54 years unexpired.
Steven Flannighan
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