Retail Investment For Sale, 8-10 Crown Hill, Croydon, CR0 1RY

Arranged over the ground floor and basement (with shared rear access) of a mixed-use retail / residential building.The unit has just been let to Crisis who are currently fitting out the unit prior to trading.
( Agency Pilot Software Ref: 14049 )

Location

Croydon is a well-established retail centre, approximately 9 miles to the south of Central London. The property is located on Crown Hill, a busy pedestrianised retail pitch close to the junction with North End and opposite Surrey Street Market.

A short distance to the north east of the subject property, Westfield and Hammerson (The Croydon Partnership) have secured planning permission for a major retail led development. Croydon is the subject of substantial investment/development and there are currently approximately 9,000 residential units planned for the town centre.

Accommodation

The premises extend to the following approximate areas:
Ground Floor Sales: 1,202 sq ft (111.67 sq m)
Ground Floor Office: 111 sq ft (10.31 sq m)
Basement: 870 sq ft (80.82 sq m)
TOTAL - 2,183 SQ FT (202.8 SQ M)

Terms

TENANCY DETAILS
The property is let to Crisis UK Limited on a ten years effective full repairing and insuring lease from May 2018. There is an upward only rent review at year 5 and a tenant’s break subject to 6 months notice. The lease is inside the L&T Act. The passing rent is £60,000 per annum exclusive

TENURE
A new 999 year lease with a peppercorn ground rent.

PROPOSAL
Offers are invited in excess of £940,000. A purchase at this level reflects a net initial yield of 6.04% after deducting standard purchaser's costs. The tenant has a rent free period of 6 months. This will be deducted pro-rata from the purchase price upon completion.

EPC - D