Ground Floor, Surrey House 1-4 Surrey Street Croydon CR9 1HB

Ground Floor, Surrey House
1-4 Surrey Street
Croydon
CR9 1HB

Virtual Freehold Public House

Public house let on assignment from Mitchells & Butler Retail Limited until 2025.
Prominently located on established leisure circuit.
Active management/residential redevelopment potential of first floor.
Neighbouring occupiers include Sainsbury’s, Nando’s, Betfred and NatWest.
Six Week Completion

Lot
40
Auction
17th October 2013
Rent
£118,500 per Annum Exclusive
Status
Withdrawn Post
Price
Auction Venue
The Millennium Hotel
44 Grosvenor Square
Mayfair
London W1K 2HP

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Virtual Freehold Public House

Public house let on assignment from Mitchells & Butler Retail Limited until 2025.
Prominently located on established leisure circuit.
Active management/residential redevelopment potential of first floor.
Neighbouring occupiers include Sainsbury’s, Nando’s, Betfred and NatWest.
Six Week Completion

Lot 40
Auction 17th October 2013
Rent £118,500 per Annum Exclusive
Status Withdrawn Post
Price
Sector
Public House
Auction Venue
The Millennium Hotel
44 Grosvenor Square
Mayfair
London W1K 2HP

Property Information

Location

Miles: 11 miles south of Central London
Roads: A23, A22, A232, M25 (Junctions 6, 7 & 8)
Rail: East Croydon (14 minutes’ to London Bridge, 16 minutes to London Victoria) Church Street Tram Stop
Air: London Heathrow, London Gatwick; Situation

Situation

The property is situated in a prominent corner location in an established leisure circuit within Croydon town centre. Neighbouring occupiers include Sainsbury’s, Nando’s, Betfred and NatWest. The property is located within close proximity to the proposed Croydon Partnership redevelopment of the Whitgift and Centrale Shopping Centres, a joint venture between Westfield and Hammerson. The scheme will provide 1.5 million square feet of retail and leisure accommodation and between 400-600 new homes (www.thecroydonpartnership.com).

Tenure

Virtual Freehold. Held for a term of 999 years from completion of the sale at a peppercorn rent. The lease will provide for the buyer to have an option to purchase the Freehold. For details please see a copy of the lease.

Location

Miles: 11 miles south of Central London
Roads: A23, A22, A232, M25 (Junctions 6, 7 & 8)
Rail: East Croydon (14 minutes’ to London Bridge, 16 minutes to London Victoria) Church Street Tram Stop
Air: London Heathrow, London Gatwick; Situation

Situation

Tenure

Description

The property forms part of a larger building and comprises ground floor public house accommodation with ancillary accommodation on the first floor and part of the basement. The property benefits from a return frontage and side access for deliveries.

VAT

VAT is applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

VAT

VAT is applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x.	Reviews
Part Basement Ground First	Ancillary Public House Ancillary	34.39 sq m 394.20 sq m 411.65 sq m	(370 sq ft) (4,243 sq ft) (4,431 sq ft)	Let to STONEGATE PUB COMPANY LTD on assignment from Mitchells & Butlers Retail plc (1)	25 years from 29/29/2000 until 01/09/2025 on a full repairing and insuring lease	£118,500 (2)	29/29/2015 and 5 yearly
Totals		840.24 sq m	(9,044 sq ft)			£118,500

(1) For the year ending 29th September 2012, Mitchells & Butlers plc, formerly Bass Taverns Limited (Company No. 00024542) reported a turnover of £1,889,000,000, pre-tax profits of £83,000,000 and a total net worth of £1,083,000,000. (Source: www.riskdisk.com 5th September 2013)
(2) The seller is holding a £71,000 rent deposit