MIXED RETAIL AND RESIDENTIAL INVESTMENT
WITH REAR DEVELOPMENT POTENTIAL (STP)
FREEHOLD FOR SALE
- Well located in prime position within the Town
- Ground floor office/shop
- Four studio flats
- Land at rear
- Currently occupied and income producing
936 Brighton Road, Purley, Surrey, CR8 2LP
The property is located on the south side of Brighton Road, occupying a prime position within the Town close by to a mix of multiple and independent retailers that include Barclays Bank, Sainsburys, William Hill, Pizza Express and Ladbrokes.
There is short term High Street parking immediately opposite with two off-street car parks close by, one immediately behind the shops on the other side of Brighton Road and the other off the High Street to the rear of the premises.
The property forms part of a parade in Purley Town Centre and comprises ground, first and second floors.
The ground floor accommodation comprises an office/shop currently occupied by Streets Ahead together with rear office, kitchen and wc with the following net internal areas:
THE APPROXIMATE NET INTERNAL AREAS ARE AS FOLLOWS
42.82 sq m
461 sq ft
13.55 sq m
146 sq ft
7.19 sq m
77 sq ft
63.56 sq m
684 sq ft
There is land to the rear which we believe provides potential for development but is currently let as detailed below.
The upper parts comprise four studio flats all in good condition and all currently occupied and income producing.There is land to the rear which we believe provides potential for development but is currently let as detailed below.
Ground floor (Retail Unit): Let on an effective full repairing and insuring lease from 14th September 2019 to the 22nd September 2031, subject to 4 yearly rent reviews. The current rent is £19,000 per annum exclusive and the next review is on the 14th September 2023.
Land at the Rear: Let on a Tenancy at Will to J D Motors at a current rent of £3,120 pa.
Residential Upper Parts:
936a Studio flat: Let on an AST until 28th January 2022 at £9,600 pa
936b Studio flat: Let on an AST until 5th March 2022 at £9,000 pa
936c Studio flat: Let on an AST until 29th May 2021 at £9,000 pa
936d Flat: Studio flat: Let on an AST until 29th November 2021 at £9,000 pa.
Total current income – £58,720 per annum.
The property is available for sale freehold, subject to the existing tenancy below and offers are sought in the region of £850,000, Subject to Contract.
We understand VAT is not payable on this property.
Each party to be responsible for their own legal costs.
For further information, or to arrange an inspection please contact Sole Agents Gildersleve & Payne
Contact: Nick Payne MRICS
or David Sutton BA (Hons)
Energy Performance Certificate:
Full information available upon request.
For more information please refer to the Government website (https://www.tax.service.gov.uk/business-rates-find/valuations/17013359000) or contact Croydon Council on 020 8726 6000.
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