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
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.
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
|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:
|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|
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.
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).
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
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.
For further information, or to arrange an inspection please contact Sole Agents Gildersleve & Payne
Tel 020 8686 4400
Contact: Nick Payne MRICS Email: firstname.lastname@example.org
or David Sutton BA (Hons) Email: email@example.com
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