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89 Lower Addiscombe Rd 1,450 SF Retail Building Croydon CR0 6PT $408,998 ($282.07/SF)
Investment Highlights
- High footfall
- East Croydon Station is less than 15 minutes walk away
- Basement, Rear yard, Kitchen, Rear access
- Good frontage
- Long term income stream with 5 yearly rent reviews.
Executive Summary
Opportunity to purchase a freehold investment in a prominent position on the busy Lower Addiscombe Road. The ground floor is occupied and used as a restaurant benefitting from a large seating area over ground floor and basement, plus a good-sized kitchen leading to a rear storeroom, yard area, and rear access to Warren Road. The flats above are sold off on long leases.
Ground floor and basement let to the restaurant Les Calices, on a 20 year lease beginning 1st December 2017 and expiring 31st November 2037. Rent review every 5th anniversary and currently producing £20,000 pax.
1st floor flat is sold off on a long lease and has reversionary potential with 64 years unexpired. Ground Rent of £250 is payable per annum.
2nd floor flat is sold off on a long lease with 190 years unexpired. Ground rent of a peppercorn is payable per annum.
Ground floor and basement let to the restaurant Les Calices, on a 20 year lease beginning 1st December 2017 and expiring 31st November 2037. Rent review every 5th anniversary and currently producing £20,000 pax.
1st floor flat is sold off on a long lease and has reversionary potential with 64 years unexpired. Ground Rent of £250 is payable per annum.
2nd floor flat is sold off on a long lease with 190 years unexpired. Ground rent of a peppercorn is payable per annum.
Property Facts
Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Property Subtype
Restaurant
Building Size
1,450 SF
Building Class
B
Year Built
1888
Price
$408,998
Price Per SF
$282.07
Tenancy
Single
Building Height
4 Stories
Lot Size
500.00 AC
Frontage
18’ on Lower Addiscombe Road
Amenities
- Restaurant
- Storage Space
1 1
Nearby Major Retailers
1 of 5
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89 Lower Addiscombe Rd
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