Acquired
London – Cafe & Ground Rent
80 High Street, South Norwood, London SE25 6EAFreehold Shop & Ground Rent Investment
Investment Consideration
- The property is arranged as a Ground Floor A1 commercial unit and 3 flats sold on long leases
- Commercial unit let to Communitea Café on a lease expiring in 2028 (No Breaks)
- Rent review for commercial unit on 25th October 2023; rise in rent to a minimum of £15,000 p.a.
- Occupiers close by NatWest, Subway, Nisa Local, Greggs, amongst others
VAT
VAT is not applicable.
Property Description
The property is arranged as a Ground Floor A1 commercial unit trading as a coffee shop and 3 flats sold on long leases (one flat in the basement, one flat on the first floor and one flat on the second floor).
The property provides the following accommodation and dimensions:
Ground Floor Shop:
Shop: 692 sq ft
Shop NIA: 485 sq ft
Shop Frontage: 17 ft on High Street
The property provides the following accommodation and dimensions:
Ground Floor Shop:
Shop: 692 sq ft
Shop NIA: 485 sq ft
Shop Frontage: 17 ft on High Street
Tenancy Description
The shop is at present let to Communitea Café for a term of 10 years from 25th October 2018 at a current rent of £13,800 per annum with ground rent for the upper flats of £450 p.a. The lease provides for rent reviews every fifth year of the term and contains full repairing and insuring covenants.
Tenancies & Accommodation
Location Description
Croydon has a population in excess of 364,000 and is one of the principal retail centres south of London, approximately 9 miles to the south of London. Croydon benefits from excellent road communications being the focal point of the main road routes between Central London and the south coast.
