The premises form the end of terrace unit to a series of secondary retail properties fronting onto Central Hill close to the junction with Gipsy Hill and Westow Street. The subject property comprises the ground floor to this 3 storey building. There is rear access via the adjoining side road. The property was formally used as a community police support office although other uses maybe considered subject to obtaining planning permission and landlord’s approval. If so required.
The premises provide a series of air conditioned rooms together with Wc`s, kitchen and shower. To the rear of the building is a covered bike store which could be converted to provide additional accommodation.
Location
Crystal Palace is located approximately 7 miles (11.3 Km) south east of London. The town offers a wealth of shops, bars and restaurants.
Crystal Palace mainline station, serves trains between Victoria and London Bridge. London Overground trains run to Highbury & Islington . In addition, Southern services run to Beckenham Junction, Sutton and Epsom Downs. Gipsy Hill mainline line station is also close by offering services to Clapham Junction and also Victoria.
Accommodation
Net Internal Area approx: 1,346 sq ft (125 sq m).
Terms
Lease/Sub Lease
The premises are available, either, by way of the assignment of our client’s lease or our client granting a sub-lease. Our clients existing lease is for a period of 10 years from August 2018. Rent £15,000 per annum exclusive. Rent review in August 2022 and 2026.
Alternatively, a new sub lease can be offered on terms to be agreed at an annual rent of £20,000 per annum ex.
Both options will require obtaining the landlords prior written consent.
Premium
In the case of a lease assignment a premium of £10,000 is sought to take over the existing lease.
VAT
We understand that VAT is not applicable to the rent.
Business Rates
We understand that the property has a Rateable Value of £14,500. Therefore, the Business rates liability for the year to 30th March 2019 is approx. £6,960. However, the rate payer, maybe entitled to small business rate relief hence reducing the amount payable. Any interested party should discuss directly with Croydon business rates dept.