Prominent town centre location close to the Centrale Shopping Centre and Whitgift Shopping Centre
Six Week Completion Period Available
Fixed Rental Increase in 2013 and a minimum uplift in 2015
Nearby occupiers include Argos, McDonald's, Poundstretcher, Bon Marché and Lidl
Please note that the adjoining property is to be offered as Lot 18 in the catalogue
Rent rising to a minimum of £75,000 in 2015
Lot 7
Auction 7th April 2011
Rent £70,000 per Annum Exclusive
Status Sold
Price £600,000
Sector High Street Retail
Auction Venue Millennium Hotel 39-44 Grosvenor Square London W1K 2HP
Property Information
Location
Miles
11 miles south of Central London
Roads
A23, A232, M25 (Junction 7)
Rail
East Croydon Railway Station, Church Street Tram Stop
Air
Gatwick Airport, Heathrow Airport
Situation
The property is situated within Croydon town centre on the eastern side of Church Street opposite its junction with Old Palace Road. Nearby occupiers include Argos, McDonald's, Poundstretcher, Bon Marché and Lidl. Centrale Shopping Centre and Whitgift Shopping Centre are also in close proximity and house retailers including House of Fraser, Debenhams, Zara and Next.
Tenure
Freehold.
Location
Miles
11 miles south of Central London
Roads
A23, A232, M25 (Junction 7)
Rail
East Croydon Railway Station, Church Street Tram Stop
Air
Gatwick Airport, Heathrow Airport
Situation
The property is situated within Croydon town centre on the eastern side of Church Street opposite its junction with Old Palace Road. Nearby occupiers include Argos, McDonald's, Poundstretcher, Bon Marché and Lidl. Centrale Shopping Centre and Whitgift Shopping Centre are also in close proximity and house retailers including House of Fraser, Debenhams, Zara and Next.
Tenure
Freehold.
Description
The property comprises a ground floor retail unit with self- contained offices on first floor. The property also benefits from rear access for servicing and parking rights for two vehicles.
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a ground floor retail unit with self- contained offices on first floor. The property also benefits from rear access for servicing and parking rights for two vehicles.
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
10 years from 16/09/2010 until 15/09/2020 on a full repairing and insuring lease
£70,000
16/09/2013 and 16/09/2015 (2)
Totals
551 sq m (3)
(5,939 sq ft)(3)
£70,000
(1) Platinum Furniture Limited, trading as Croydon Furniture Centre sells furniture at wholesale prices to the public. (2) The lease provides for a fixed rental increase to £72,500 p.a.x. at the 2013 rent review. As to the 2015 rent review, the lease provides for the rent to be reviewed to the minimum of open market rental value or £75,000 p.a.x. (3) Please note that the floor areas have been measured on a gross internal basis.
Contacts
Seller's Solicitors
Forsters LLP 31 Hill Street London W1J 5LS +44 (0)20 7486 8511
