Freehold Retail Investment with Residential Development Potential
Prime pedestrianised retail position between The Centrale Centre and The Whitgift Centre
Ground and Basement let to Holland & Barrett Retail Limited until 2025
Residential development potential on upper floors (subject to consents)
Substantial Freehold comprising some 496.29 sq m (5,343 sq ft)
Neighbouring occupiers include Greggs, Three, Vodafone, Footlocker, Pandora and PoundWorld
Lot 7
Auction 5th May 2021
Rent £175,000 per Annum Exclusive
Status Sold Prior
Price
Sector High Street Retail
Auction Venue Live Streamed Auction
Property Information
Location
Miles
10 miles south of Central London
Roads
A212, A236, A23, M25 (Junction 7)
Rail
West Croydon Railway Station,
Centrale Tram Stop
Air
Gatwick Airport, Heathrow Airport
Situation
The property is prominently located in the heart of Croydon Town centre in a prime pedestrianised retail pitch, just north of the entrance to the Centrale Centre and opposite the entrance to The Whigift Centre. Neighbouring occupiers include Greggs, Three, Vodafone, Footlocker, Pandora and PoundWorld. A £5.25 billion regeneration of Croydon's town centre is currently underway. About a third of the new homes identified in the local plan are expected to be built in the town centre and the redevelopment of the Whitgift Centre is set to create a flagship retail destination (https://www.croydon.gov.uk/ 06/04/2021).
Tenure
Freehold.
Location
Miles
10 miles south of Central London
Roads
A212, A236, A23, M25 (Junction 7)
Rail
West Croydon Railway Station,
Centrale Tram Stop
Air
Gatwick Airport, Heathrow Airport
Situation
The property is prominently located in the heart of Croydon Town centre in a prime pedestrianised retail pitch, just north of the entrance to the Centrale Centre and opposite the entrance to The Whigift Centre. Neighbouring occupiers include Greggs, Three, Vodafone, Footlocker, Pandora and PoundWorld. A £5.25 billion regeneration of Croydon's town centre is currently underway. About a third of the new homes identified in the local plan are expected to be built in the town centre and the redevelopment of the Whitgift Centre is set to create a flagship retail destination (https://www.croydon.gov.uk/ 06/04/2021).
Tenure
Freehold.
Description
The property comprises retail accommodation on the ground floor and ancillary accommodation in the basement. The first, second and third floors, which are also included in the sale are vacant and are separately accessed from the rear of the property via Drummond Road. The upper floors benefit from residential development potential (subject to consents).
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completion
EPC
Band E. See legal pack.
Description
The property comprises retail accommodation on the ground floor and ancillary accommodation in the basement. The first, second and third floors, which are also included in the sale are vacant and are separately accessed from the rear of the property via Drummond Road. The upper floors benefit from residential development potential (subject to consents).
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completion
EPC
Band E. See legal pack.
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Reversion
Ground Basement
Retail Ancillary
155.68 sq m 99.57 sq m
(1,676 sq ft) (1,072 sq ft)
HOLLAND & BARRETT RETAIL LIMITED (1)(2)
5 years from 08/05/2020
£175,000
07/05/2025
First Second Third
Unused Unused Unused
82.20 sq m 72.52 sq m 86.32 sq m
(885 sq ft)
(781 sq ft)
(929 sq ft)
VACANT POSSESSION
Total
496.29 sq m
(5,343 sq ft)
£175,000
(1) For the year ending 30th September 2020, Holland & Barrett reported a Turnover £413,639,000, a pre-tax profit of £5,749,000 and shreholder funds of £307,466,000 (Source: NorthRow 12/04/2021). (2) Tenant has been in occupation since 2015.
If you are the successful bidder, Acuitus requires a separate payment of £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.
