RETAIL INVESTMENT

FOR SALE FREEHOLD

  • Located approximately half a mile from East Croydon mainline railway station.
  • Numerous bus services operate along Lower Addiscombe Road
  • Ground floor retail unit currently let
  • First and second floor accommodation sold off on long leases.
  • Ground floor single storey office A1/A2 Use would suit owner occupier or could be let

59 & 59a LOWER ADDISCOMBE ROAD, CROYDON, SURREY, CR0 6PQ

 

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Location:

The property is prominently located at the junction of Lower Addiscombe Road (A222) and Cherry Orchard Road approximately half a mile from East Croydon mainline railway station.  

Numerous bus services operate along both Lower Addiscombe Road and Cherry Orchard Road.

59 LOWER ADDISCOMBE ROAD:

Description/Accommodation:             
The premises comprise a ground floor retail unit arranged as a large open plan area with kitchentte, wc and basement storage area of approximately 164 sq ft with restricted headroom.

The net internal areas are as follow:

Retail plus kitchenette

39.67 sq m

427 sq ft

Basement area with restricted headroom

15.23 sq m

164 sq ft

Total

54.90 sq m

591 sq ft

Tenancies:
59:  The retail premises are let to M A Mahmood trading as Asian Hair & Beauty on a FRI lease for a period of 20 years from 1st February 2019, with 5 yearly upward only rent review.  

The tenant is initially not responsible for any external decoration liability which will revert to a full repairing liability after 4 years.  

The rent is £11,000 per annum exclusive, payable monthly in advance.  The Landlord holds a rent deposit deed for £2,700 for the period of the lease.

The first and second floors contain residential accommodation approached by separate access from the frontage. The first floor one bedroom flat has been sold off on a long lease.

The second floor flat is held on a 99 year lease from 29 September 1987 thus having 66 full years unexpired. Ground rent of £100pa. The freeholder has offered a 90 year lease extension for £19,500. 

59A LOWER ADDISCOMBE ROAD:

Description/Accommodation:     
The premises comprises a ground floor self contained single storey office A1/A2 premises and may suit owner occupier or could be let at a rent of £6000pa.

The unit has the benefit of a small courtyard at the rear.

The net internal areas are as follows:

Retail/Office

20.81 sq m

224 sq ft

The advertising hoarding has been sold off on a long lease at a peppercorn rent.

PRICE:                                                                                                                  
The entire property is available for sale freehold and offers  are sought in excess of £235,000. Subject to Contract.

VAT:
We understand that VAT will not be applicable in respect of this transaction.

BUSINESS RATES:                                                                         
According to the Government Website the current Rateable Value of the property is
59: £8,300pa. 
59a: £4,650pa.   
The UBR for 2019/20 is 49.1p in the £.

Energy Performance Certificate:     
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
2 Woodbridge, Smallfield

110 HIGH STREET, CROYDON, SURREY, CRO 1ND

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