Location
The property is prominently situated on the corner of Perry Vale and Waldram Place and benefits from excellent transport links. The property is situated close to Forest Hill Station (0.1 miles) which provides regular services to East Croydon and London.
Description/Accommodation
The commercial element comprises a ground floor retail unit and self contained office. The residential element comprises 2 x 1 bedroom flats accessed with their own entrance from Waldram Place.
Approximate net internal areas
Ground Floor
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Retail
48.46 sq m - 515 sq ft
Rear Office
26.48 sq m - 285 sq ft
Basement storage*
28.83 sq m - 310 sq ft
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First Floor
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Residential
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Second floor
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Residential
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*Restricted head height
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Tenancies
Commercial
Ground Floor Retail; The Retail unit is let an effective full repairing and insuring lease for a term of 10 years from 22nd February 2021 at a current rent of £16,500 pa, subject to a rent review at at the 5th year. There is a Tenant break clause in the 5th year subject to 6 months prior written notice. The Landlord holds a rent deposit of £5,500.
Ground Floor Rear Office: Currently under offer at £9,000 pa on the basis of a new effective full repairing and insuring lease for a term of 15 years.
Residential
Flat A (first floor): Let on an AST Agreement at a current rent of £1350 pcm.
Flat B (second floor): Let on an AST Agreement at a current rent of £1500 pcm.
Terms
The Freehold interest is available for sale subject to the above tenancies at a price in the region of £850,000, subject to Contract, plus VAT (if applicable).
Business Rates
According to the Government website the property has a Rateable Value of (To be assessed). The UBR for 2022/3 is 49.9p in the £.
Benefits include
More informationArrange an inspection
Strictly by appointment with Sole Agents
Gildersleve & Payne: 01883 723888
Nick Payne
Email: nickp@gpcommercial.co.uk
Property Misdescriptions Act 1991 Please note the agents have not carried out a survey, have not made planning enquiries nor tested any of the equipment, apparatus, fixtures, fittings, services or land and are therefore not able to verify their condition, or suitability for their purpose
Code of Practice Applicants should be aware that the code of practice on commercial leases in England and Wales strongly recommends you seek professional advice from a qualified Surveyor, Solicitor or Licenced Conveyencer before agreeing or signing a Business Tenancy Agreement. The Code is available through professional institutions and trade associations or through the website www.leasingbusinesspremises.co.uk
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