5 Blackheath Hill, London | Property for sale | Savills
Guide price £325,000

5 Blackheath HillLondon

  • Updated
  • Freehold
Retail

Key features

  • Investment let at £26,000 pa
  • Fixed rental increases
  • Let to tenant trading as The Hairy Chair
  • Let on a 12 year lease expiring March 2031 (subject to break option)
  • Continuous use as hair salon since 2003. No Arrears (full rent during lockdowns)
  • Self contained maisonette on upper parts sold on long lease
  • Potential to add value with conversion to residential (subject to planning)
  • VAT-Free Investment
  • 8 Week Completion Available

Of interest to investors. Freehold Retail Investment in Popular London Location. Investment let at £26,000 pa (rising).

About this property

  • The property comprises a ground floor shop currently arranged as a hairdressers with ancillary accommodation on the basement floor.

Local information

  • Location:
  • The property is situated in a popular location in Greenwich, approximately 5 miles from Waterloo. The property is located in a prominent corner position, with good frontage exposure to the A2, close to the junction with Greenwich South Street and Blackheath Road. Nearby occupiers include Pets at Home, Wickes, Costa Coffee and a number of independent shops, cafes and restaurants. The property is squarely located between Greenwich town centre to the north, Deptford to the west, Lewisham to the south and Blackheath Village to the east. Walking distance to the town centre, University, River board and Greenwich Park and Observatory.
  • Transport:
  • Rail - 10-minute walk to Greenwich Main Station (TfL Zones 2 & 3) (Thameslink / Southeastern: 10-minute journey time to London Bridge) and DLR (10-minute journey time to Canary Wharf)

Additional information

  • Accommodation:
  • Please note that the approximate areas have been supplied by the client and/or taken from the VOA and the property has not been inspected by Savills.
  • Ground - 74.40 sq m (800 sq ft)
  • Basement - 44.20 sq m (475 sq ft)
  • Total approximate internal area - 118.60 sq m (1,275 sq ft)
  • Plus approximate external area - 9.3 sq m (100 sq ft)
  • Tenancy:
  • Ground/Basement - Let to an individual trading as The Hairy Chair Hairdressers on a 12 year lease from 01/03/2019 until 01/03/2031. Current rent reserved is £26,000pa. The lease is subject to fixed rental increases to £28,000 in September 2025 and £30,000 in September 2028. One quarter’s rent deposit is held + director’s guarantees.
  • Upper floors - Sold off on a long lease for 189 years from 24/06/1984 at a nil ground rent.
  • Total Current Rent - £26,000 pa
  • Planning:
  • The property may benefit from future development/change of use potential, subject to the necessary consents. For further enquiries please contact Greenwich Borough Council (www.royalgreenwich.gov.uk).
  • Notes:
  • VAT is not applicable to this lot.