Opportunity to purchase a commercial investment in South Croydon.
The property comprises three ground floor commercial shops with flats above which are owned by the ultimate freeholder Hexagon Housing Association.
The commercial shops are being sold with the benefit of a 999 year lease from September 2019 and measure 3,323 sqft in total. The shops comprise of units A, B and C. Unit B is currently let for £18,000 per annum to Crystal Elite (dance company) and Unit C is tenanted on a 5 year lease (Dukes Boxing Gym), producing an income of £25,000 per annum. Unit A measures 1,441 sqft and is currently vacant but has a prospective tenant offering £29,000 per annum.
All the units have an E Class (Commercial, Business and Service) use and therefore would be of interest to a wide range of occupiers including:
- Restaurants
- Offices
- Day Nursery
- Gyms or Yoga Studios
- Doctors
- Health Clinics
- Cafes
Viewings are strictly by appointment only and unconditional offers are encouraged in excess of £875,000.
Location
The property is located on the popular Brighton Road in South Croydon on the A235.
The property is surrounded by local amenities and various shops including Shell petrol station, Duke's gym, Coral bookmakers, Papa John's Pizza, Pizza Hut delivery as well as other local and independent traders. Sanderstead mainline railway station is within walking distance, providing services into Clapham Junction in 15 minutes and London Victoria in 23 minutes. There are also, buses located nearby which provide access to East Croydon in 15 minutes.
This is a perfect location for an investment as small businesses thrive from the local amenities and the local traffic of Brighton Road.
Accommodation
Unit A - 1,441 sq ft - Under Offer - Rent £29,000 pa
Unit B - 826 sq ft - Crystal Elite - Rent £18,000 pa
Unit C - 1,056 sq ft - Duke's Gym - Rent £25,000 pa
Terms
Tenure - Virtual Freehold (997 Years)
Price - £875,000
Planning History - 19/03195/FUL | The reconfiguration of the existing ground floor retail unit (Class A1) into three separate units and a change of use to flexible uses as A1 (shops), A2 (financial and professional services), A3 (food and drink), D1 (non-residential institution), or, D2 (assembly and leisure).
Specification
- E Class Use with a total of 3,323 sqft of ground commercial space.
- Three separate units with 2 x Let, 1 x Under Offer.
- Opportunity likely to appeal to a wide range of suitors including local investors and businesses.