LOCATION: – The property is situated in the heart of central Croydon and is a stone’s throw from St. James’s Road, the main road linking Croydon to Addiscombe. St. James’s Road is a bus route, and West Croydon and East Croydon Overground stations are within a mile.
DESCRIPTION: – The property comprises a pair of single storey light industrial units built of traditional steel framework. Both units are let under full repairing and insuring leases to the same leaseholder and are income-producing. Each unit benefits from 3.5m double doors and provide open plan floorplates with ancillary mezzanine space and internal WC’s.
ACCOMMODATION: –
Unit 42B Gloucester Road:
Ground Floor 222.00m² (2,390ft²)
Mezzanine Floor 15.41m² (165ft²)
Unit 42C Gloucester Road:
Ground Floor 108.75m² (1,170ft²)
Mezzanine Floor 20.17m² (217ft²)
Forecourt to the front of the units providing loading/limited parking.
TENURE: – The property is to be offered by way of a disposal of the freehold interest and are subject to separate leases to the same tenant.
42B is let under a lease dated 17th September 2021, expiring on 16th September 2026, at a current rent of £25,000 per annum exclusive.
42C Gloucester Road is let under a lease dated 11th February 2022, expiring on 10th February 2027, at a passing rent of £11,079 per annum exclusive.
Both leases are held by Twice Nice Ltd with directors’ personal sureties. Both leases are held on full repairing and insuring terms, and contracted outside of the security of tenure provisions of the Landlord and Tenant Act 1954 Part II, as amended. The total combined passing rents are £36,079.
USE/PLANNING: – We understand that the property currently falls within Class B8 of the latest Town and Country Planning (Use Classes) Order and is currently occupied by a an office furniture retailer.
Interested parties should make enquiries of the local authority in respect of the use prior to offer
PRICE: – £400,000. This reflects a gross yield of approximately 9%.
EPC RATING: –
42B Gloucester Road: – 112 within Band D.
42C Gloucester Road: – 123 within Band E.
VAT: – All capital figures quoted are exclusive of VAT
BUSINESS RATES: –
42B Gloucester Road
Rateable value: £25,250.
42C Gloucester Road
Rateable value: £11,500.
Enquiries should be made of the Valuation Office Agency in this regard.
www.tax.service.gov.uk/business-rates-find/search
VIEWINGS: – Viewings by prior arrangement – please telephone 0208 681 2000.
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Location
Gloucester Road, Croydon CR0 2DA, UK