Industrial for sale in Ladywell Arches, 59 Ladywell Road, London SE13

Key Points

Description

The premises comprise seven adjoining arches/vaults of reinforced concrete structural frame directly underneath Ladywell Road, opposite a small residential development site of approximately 14 flats. Vehicular access is served from Ladywell Road and the site is secured by two large steel gates. The majority of the arches have double glazed aluminium frontages with pedestrian doors. Arch six has a secondary pedestrian access to the rear elevation leading onto Lewisham Park and Ladywell station train platform.

The arches are generally in shell condition with exposed solid concrete floors, walls, and ceilings. All the arches have the ability to link with the adjoining arch. Internally, the arches have demountable fibreboard partitioning serving numerous studio/workshop and artistic spaces with suspended fluorescent strip lighting. To the front of Arch 4 are W.C. Facilities with a small kitchenette serving all the arches.

Location

The property is located within the London Borough of Lewisham, just half a mile southwest of Lewisham town centre. It is conveniently located directly opposite Ladywell Station. The surrounding area is primarily residential use, while Ladywell itself has a small parade of shops, occupied mainly by boutique independent retailers and businesses. There is a lot of ongoing and proposed residential development in the surrounding area. University Hospital Lewisham is just 300 metres to the south.

The property has exceptional road and public transport links, being situated on Ladywell Road (B236) which links directly to the A21 (0.4 miles) and joins the A20 to London, or out to the M25. Ladywell Station is directly adjoining the site, with frequent trains into central London, including London Bridge, Charing Cross, and Cannon Street (approximately 20-30 mins). There are regular bus routes from Ladywell Station, providing direct links to Shoreditch, Stratford, and Victoria, amongst others.

Asset Management Opportunities

There is potential to increase the total income of the site by securing tenants for the vacant arch.
A low level of current rents provides a short-term opportunity for rental increase at rent review or on new lettings.
Limited capital expenditure to the site has the potential to provide an exponential increase in rents.
The rear section of Arch 2 is currently blocked off and not utilised. It backs onto the entrance of Ladywell Station and has potential for a coffee shop or convenience store.

Tenure

The property is held on a long lease of 199 years from 27th November 2001 (c.176.5 years remaining), expiring 26 th November 2200 from the Mayor and Burgesses of the London Borough of Lewisham at a peppercorn rent.

Tenancies

The arches are let in whole or in part to a variety of individual artisan and artistic occupiers, on a series of annual licences inclusive of Utilities bills. Full details of all licences and occupational terms are available in the Data Room.

Landlord Costs

Approximate landlord costs per annum are £7,740, consisting of electricity, Wifi, Insurance and Maintenance. Full costs are available in the Data Room. All tenants pay their own Rates.
Net Income is currently £55,512 pax and Net erv is £73,748 pax.