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.

Running a site alone takes time and a fair bit of money. Adverts are far from enough to cover it and my living costs as a private renter.