Entirely let to FX Power Ltd on a 10 year lease until 2020
Town centre location close to Centrale Shopping Centre and Whitgift Shopping Centre
Fixed annual rental increases
Nearby occupiers include Dreams, Argos, McDonald's and Lidl
Six Week Completion Available
Please note that the adjoining property is to be offered as Lot 7 in the catalogue
Rent rises annually to £40,000 in 2019
Lot 18
Auction 7th April 2011
Rent £31,000 per Annum Exclusive
Status Sold
Price £347,000
Sector Leisure
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 to the east of Church Street, and is accessed via Tamworth Place. Nearby occupiers include Dreams, Argos, McDonald's 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 to the east of Church Street, and is accessed via Tamworth Place. Nearby occupiers include Dreams, Argos, McDonald's 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 self-contained ground floor health and fitness club.
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 self-contained ground floor health and fitness club.
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
Ground
Fitness Club
472.78 sq m
(5,089 sq ft)
FX FITNESS LTD (1) (t/a Muscle FX Power & Fitness Studio)
10 years from 23/09/2010 until 22/09/2020 on a full repairing and insuring lease
£31,000
23/09/2011 and annually thereafter (2) (3)
Totals
472.78 sq m
(5,089 sq ft)
£31,000
(1) FX Fitness Limited have been in occupation of the property for approximately 11 years. (2) The lease provides for annual rental increases of £1,000 per annum rising to a rent of £40,000 per annum in 2019. (3) The lease provides for a tenant’s option to determine the lease on the eighth anniversary of the term, subject to 12 months’ written notice.
Contacts
Seller's Solicitors
Forsters LLP 31 Hill Street London W1J 5LS +44 (0)20 7486 8511
