SOLD

RETAIL/RESIDENTIAL INVESTMENT
WITH REAR OFFICE BUILDING
(POTENTIAL FOR RESIDENTIAL STP)

FREEHOLD INVESTMENT FOR SALE

  • Retail/Residential Freehold Investment for sale subject to the existing tenancies
  • Rear Office Building

222 Addington Road, Selsdon, Surrey, CR2 8LD

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Location:
The property is situated on the south side of Addington Road (A2022) which links with the A232 to Bromley and Beckenham and the A212 to central Croydon.  Junction 6 of the M25 is approximately six miles distant, providing access to the national motorway network.  Various bus routes operate along Addington Road and there is a bus stop immediately outside the property.

Description/Accommodation:
The property comprises a terraced three storey property comprising ground floor retail unit with two self contained one bedroom flats above  accessed from Addington Road and a self contained three storey office building to the rear.

THE APPROXIMATE NET INTERNAL AREAS ARE AS FOLLOWS

222
Ground Floor Retail/Sales 38.60 sq m 415 sq ft
Storage 1.98 sq m 21 sq ft
Total 40.58 sq m 436 sq ft

The residential upper parts comprise:
2 x one Bedroom flats each comprising of the following:

Bathroom/wc  :  Kitchen  :  Lounge  :  Bedroom  :

The rear office building is currently vacant and comprises the net internal areas as follows:

222c Office
Ground Floor 73.86 sq m 795 sq ft
First Floor 44.96 sq m 484 sq ft
Second Storage 22.30 sq m 240 sq ft
Total 141.91 sq m 1519 sq ft

Tenancies:  

Retail Unit:
Let to Stephen and Caroline Walcott trading as Eden Tea Rooms who took an assignment of a lease from Alvin Burke and Selda Refet dated 8th June 2011 for a term of 10 years.  The current rent is £13,500 per annum

The first floor flats are currently let on an Assured Shorthold Tenancies as follows:

222a Addington Road – £850 pcm
222b Addington Road – £750 pcm

Rear Office Building:
A Planning Application has been submitted for conversion of this property to residential use under Permitted Development.  Floor plans are attached.

Terms:
The Freehold interest is available for sale subject to the Tenancies above and offers are sought in the region of £800,000 subject to contact plus VAT (if applicable).

Business Rates:  
According to the Government website the property has the following Rateable Values

222 (Shop) – RV £8,100
222c (Rear Office) – RV £7,500
The UBR for 2017/18 is 46.6p in the £.
The Residential Flats are Council Tax Band B

Legal costs:           
Each party to be responsible for their own legal costs incurred in this transaction.

Energy Performance Certificate
Full information in respect of 222 Addington Road
Awaiting information on 222c Addington Road.

Viewing
For further information, or to arrange an inspection please contact Sole Agents Gildersleve & Payne
Tel 020 8686 4400
Contact:  Nick Payne MRICS    Email: nickp@gpcommercial.co.uk
or David Sutton BA (Hons)    Email: davids@gpcommercial.co.uk

Property Misdescriptions Act 1991
Please note the agents have not carried out a survey, have not made planning enquiries nor tested any of the equipment, apparatus, fixtures, fittings, services or land and are therefore not able to verify their condition, or suitability for their purpose

Code of Practice
Applicants should be aware that the code of practice on commercial leases in England and Wales strongly recommends you seek professional advice from a qualified Surveyor, Solicitor or Licenced Conveyencer before agreeing or signing a Business Tenancy Agreement. The Code is available through professional institutions and trade associations or through the website www.leasingbusinesspremises.co.uk

 

 

222 Addington Road, Selsdon, Surrey CR2 8LD

222 Addington Road, Selsdon, Surrey CR2 8LD

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