196 Lower Addiscombe Road, 196 Lower Addiscombe Raod, Croydon, CR0 7AA

Location

The property is situated on the south side of Lower Addiscombe Road adjacent to the Addiscombe Tramlink.   This is a busy thoroughfare with good public transport facilities and short term metered parking  available immediately outside.

The parade consists of a number of multiple and independent retailers that include KFC, Sainsburys Local, Boots and Greggs.

 

Description/Accommodation

The property comprises a ground floor retail unit with residential accommodation above.

 

The residential upper parts comprise a 2 x 2 bedroom flats with self contained access.

Tenancy Details

Ground floor:

Let to Paddy Power on a 10 year lease from 11th October 2020 on an effective full repairing and insuring basis at a rent of £26,000 per annum.  There is a Tenant break clause effective at 23rd June 2025.

 

Both flats have been sold off on 999 year leases and produce a Ground Rent of £100 per annum per flat.

 

Terms

The Freehold interest is available for sale subject to the Tenancies above.

 

Price

Offers in the region of £300,000 subject to contact plus VAT (if applicable).

 

Business Rates

According to the Government website the property has the following Rateable Values

196:    £21,250pa  (The UBR for 2019/20 is 49.1p in the £.)
196a:  The residential Flat is Tax Band C. (First floor)
196b:  The residential Flat is Tax Band B. (Second floor)

 

Legal costs

Each party to be responsible for their own legal costs incurred in this transaction

 

Energy Performance Certificate

Energy Rating:  C (74).  Full information available upon request.