UNDER OFFER

FREEHOLD RETAIL INVESTMENT

FOR SALE

  • New 10 year lease to St Christopher’s Hospice
  • Starting rent of £26,500 per annum exclusive with rent reviews at the 2nd and 5th years.
  • Price:  £435,000 subject to contract

247 LOWER ADDISCOMBE ROAD, CROYDON, SURREY, CR0 6RD

 

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Location:
The property is situated on the south side of Lower Addiscombe Road close to the Addiscombe Tramlink.   This is a busy thoroughfare with good public transport facilities and short term metered parking  available immediately outside.

The parade consists of a number of multiple and independent retailers that include Sainsburys Local, Boots, Greggs and KFC

Description/Accommodation:
The property forms part of a terrace of similar properties comprising a ground floor retail unit with residential accommodation above.  The ground floor comprises retail/sales area with ancillary areas to the rear. 

THE APPROXIMATE NET INTERNAL AREAS ARE AS FOLLOWS

RETAIL/SALES
(inc Kitchen)
152.36 sq m 1640 sq ft

Tenancy Details:
The ground floor is let to St Christopher’s Hospice who have recently renewed their lease on the basis of a new 10 year lease at an initial rent of £26,500 per annum exclusive.  There are two tenant only break clauses at the 2nd and 5th years and rent reviews in the same years.   
 

The flat above is held under a lease of 125 years, from August 2016 at a ground rent of £200 per annum for 25 years, increasing to £300 per annum for the next 25 years, increasing again to £400 per annum for the remainder of the term.                                 

Price:                                                                                                   
The freehold interest is for sale subject to the tenancies described above in the sum of £435,000, plus VAT (if applicable), Subject to Contract

Business Rates:                                                                         
According to the Government website the Rateable Value is £21,500 pa.  The UBR for 2021/22 is 49.9p in the £.

Legal costs:                                                                                       
Each party to be responsible for their own legal costs.

Energy Performance Certificate:                                                      
Full information available upon request.

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
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

2 Woodbridge, Smallfield

110 HIGH STREET, CROYDON, SURREY, CRO 1ND

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