Offers over
£800,000
(£296.08/sq. ft)
Retail premises for saleChurch Street, Croydon CR0
2,702 sq. ft
About this property
Circa 4 years left on the lease with current tenant
2025 rent review not instigated yet
Location
The property is located on the corner of Church Street and
Frith Road, in Croydon’s town centre. Church Street benefits
from good passing trade due to its close position to Surrey
Street, which is a market street that has been operating as a
daily market dating back 700 years.
Nearby occupiers include: Kfc, Savers, Iceland, Shoezone, PureGym, Holiday Inn, Forbidden Planet and McDonalds
amongst others.
Description
The shop is situated on the corner of Frith Road and Church
Street, benefiting from a strong corner position with a good
return frontage. Internally, the unit is predominantly open
plan with high ceilings and is currently trading as a
supermarket.
Tenure
rent.
Circa 966 years sub long leasehold at a peppercorn ground
Tenancy
A 10 year lease from 17 th
July 2020 to Abad Ltd. There is
currently an outstanding rent review from 2025 that can be
implemented. The current rent is £60,000 pax, equating to a
low value of £22.20 psf.
Price
Offers in excess of £800,000 for the long leasehold interest, which represents a Net Initial Yield of 7.11% after deducting
purchaser’s costs.
It is also possbile to acquire the saver’s unit next door (18
Church Street), more information is available on request.
VAT
The premises are elected for VAT.
EPC
D-80.
Legal Costs
Each party to cover their own legal costs.
Aml
In accordance with Anti Money Laundering regulations, any
purchaser will have to provide proof of funds, along with
confirmation of how funds were obtained and proof of id and
address.
The property is located on the corner of Church Street and
Frith Road, in Croydon’s town centre. Church Street benefits
from good passing trade due to its close position to Surrey
Street, which is a market street that has been operating as a
daily market dating back 700 years.
Nearby occupiers include: Kfc, Savers, Iceland, Shoezone, PureGym, Holiday Inn, Forbidden Planet and McDonalds
amongst others.
Description
The shop is situated on the corner of Frith Road and Church
Street, benefiting from a strong corner position with a good
return frontage. Internally, the unit is predominantly open
plan with high ceilings and is currently trading as a
supermarket.
Tenure
rent.
Circa 966 years sub long leasehold at a peppercorn ground
Tenancy
A 10 year lease from 17 th
July 2020 to Abad Ltd. There is
currently an outstanding rent review from 2025 that can be
implemented. The current rent is £60,000 pax, equating to a
low value of £22.20 psf.
Price
Offers in excess of £800,000 for the long leasehold interest, which represents a Net Initial Yield of 7.11% after deducting
purchaser’s costs.
It is also possbile to acquire the saver’s unit next door (18
Church Street), more information is available on request.
VAT
The premises are elected for VAT.
EPC
D-80.
Legal Costs
Each party to cover their own legal costs.
Aml
In accordance with Anti Money Laundering regulations, any
purchaser will have to provide proof of funds, along with
confirmation of how funds were obtained and proof of id and
address.
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Monthly repayment
£4,001 per month
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