89 Lower Addiscombe Rd 1,450 SF Retail Building Croydon CR0 6PT $399,718 ($275.67/SF)

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.