FREEHOLD RETAIL INVESTMENT
- 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
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
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
|152.36 sq m||1640 sq ft|
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.
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
According to the Government website the Rateable Value is £21,500 pa. The UBR for 2021/22 is 49.9p in the £.
Each party to be responsible for their own legal costs.
Energy Performance Certificate:
Full information available upon request.
For further information, or to arrange an inspection please contact Sole Agents Gildersleve & Payne
Tel 020 8686 4400
Contact: Nick Payne MRICS
David Sutton BA (Hons)
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