Asking rent at shop below new Lewisham Travelodge is £120k a year

Adverts have appeared for new commercial spaces below a Travelodge hotel under construction in Lewisham – and the don’t come cheap.

The largest unit is a whopping £120,000 a year. The spot isn’t even in central Lewisham with its high footfall, but located to the south on the very edge of the town centre. Some may say beyond the edge.

Another unit is £39,000 a year.

Are these being priced so no one will take them on, and thus conversion to housing will quickly follow? New rules introduced last week make that easier to do. Not that many new homes could be accommodated given need for natural light. Fortunately rules allowing homes without any windows are not in force. But still, the chance of easy money through conversion to a few flats may dictate what happens.

At these rents the chances of an interesting pub or shop are next to nil, which is a shame as it would bring footfall to the area and assist other business. Even if most shops in the area converted to homes, it’d still see minimal units compared to a reasonably sized new build.

 

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John Smith

I've lived in south east London most of my life growing up in Greenwich borough and working in the area for many years. The site has contributors on occasion and we cover many different topics. Living and working in the area offers an insight into what is happening locally.

4 thoughts on “Asking rent at shop below new Lewisham Travelodge is £120k a year

  • April 10, 2021 at 1:01 pm
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    What a joke. Greed taking over as always

    Reply
  • April 10, 2021 at 2:11 pm
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    Totally agree with you Alan. No wonder why so many businesses go under with a devasting affect on our High Streets and Jobs in the retail sector.

    Reply
  • April 10, 2021 at 3:11 pm
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    Given that there probably won’t be any takers for the retail space, the developer should have just made the entire build residential.

    Reply
  • April 10, 2021 at 6:05 pm
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    It will fill and probably a chain restaurant to cater fir the hotel guests

    Reply

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