The property comprises a three storey mid-terrace building, arranged as a ground floor retail unit with a three bedroom maisonette on the first and second floors. To the rear is a single storey detached storage building leased with the shop and used for ancillary storage and WC facilities.
( Agency Pilot Software ref: 26675 )
Location
The property is located in Selsdon, within the London Borough of Croydon. The premises is situated on the northern side of Addington Road and forms part of a parade of shops that includes a range of national and local occupiers. Sanderstead Railway Station is approximately 1.4 miles to the west providing services to London Victoria (23 minutes) and London Bridge (24 minutes). Multiple bus routes also operate in close proximity
Accommodation
Ground Floor Retail 43sq m ( 463 sq ft )
First & Second Floor Flat 95 sq m (1,023 sq ft )
Rear Storage Building 51 sq m (549 sq ft )
TOTAL 189 sq m (2,035 aq ft )
Terms
TENANCIES Shop lease The property is let by Mind In Croydon Limited to Mind (The National Association For Mental Health) at a current rent of £16,000 per annum on a full repairing and insuring basis. The lease expires on 24/10/2028. The October 2023 rent review is outstanding. Flat lease The upper parts comprise a split-level three bedroom maisonette which is let to a private individual who is holding over on an Assured Shorthold Tenancy (now a Periodic Tenancy) from 2018 at a current rent of £13,200 per annum. The lease and legal documentation can be found in our data room.
TENURE The property is held freehold under title reference number SGL387426
GUIDE PRICE Offers are invited for the freehold interest subject to the existing leases in the region of £475,000 STC.
VAT We understand that the property is not elected for VAT, therefore VAT will not be payable on the sale price.
EPC The EPC rating is C.
Specification
▪ Retail and residential investment opportunity located within the London Borough of Croydon.
▪ Ground floor shop let to national charity, Mind, with a selfcontained three bedroom flat above.
▪ Shop lease expires October 2028.
▪ Total passing rent of £29,200 per annum.
▪ Possible development potential to convert the upper floors to create an additional residential unit (subject to the existing leases and requisite consents); and potential to redevelop the rear storage building.
▪ Offers invited in the region of £475,000 STC