High Street, Croydon

A ground floor long leasehold investment for sale at 9.6% gross yield at asking price

LOCATION: – The property is situated fronting the High Street, a bus route and through road from Central Croydon leading onto the A235 Brighton Road into Purley. location benefits from heavy vehicular traffic and moderate pedestrian foot-flow. Traffic lights in front of the parade increases visibility to the premises. Across the road there are temporary parking bays promoting quick-stop trade. The property is 0.5 miles from South Croydon mainline station and 0.8 miles to East Croydon mainline station.

DESCRIPTION: – The property comprises a mid-terrace ground floor lock-up shop currently occupied by A&A Alteration Tailors. The property has an aluminum shop front and a visible frontage. At the asking price of £135,000 this opportunity provides a gross yield of 9.6%

ACCOMMODATION: –
Gross frontage 4.6m (15ft) approx.
Internal width 4.6m (15ft) reducing to 2.4m (8ft) approx.
Shop depth 10.468m (34ft) approx.
Sales area 36.368m² (394ft²) approx.
WC

USE/PLANNING: – The property is believed to fall within Class E of the current Town and Country Planning (Use Classes) Order and is occupied by a tailor.

TENURE: – The property is to be offered on a long leasehold basis of 125 years from 24 June 1990 (91 years approx. remaining) and is subject to the existing commercial lease. There is a £25 ground rent. We understand from the seller that a 12-year lease was granted on the 14th of September 2011 therefore the tenant is currently holding over, and the passing rent is £13,000 (thirteen thousand pounds) per annum.

PRICE: – The price of £135,000 (one hundred and thirty-five thousand pounds) is sought for our client’s long leasehold interest subject to the existing tenancy.

BUSINESS RATES: – The property has a ratable value of £11,250. Interested parties should contact the local authority to confirm the rates PAYABLE. www.tax.service.gov.uk/business-rates-find/search

EPC RATING: – The property has an EPC rating of 81 within Band B.

VAT: – We understand from the vendor that the property is not elected to VAT.