The Broadway, Croydon

LOCATION

The properties occupy a prime position fronting the main A232 which is a busy road linking the Purley Way in Croydon and Wallington as well as Beddington.

DESCRIPTION

The property comprises a triple fronted retail unit currently let to Lafford Chemists Limited. The Parade at Plough Lane is well used and comprises a mix of local retailers including a convenience store, barber shop, micro pub and others.

TENANCY DETAILS

The ground floor is currently let on a full repairing and insuring Lease for a term of 15 years from December 2018 to Lafford Chemists Limited at a current rent of £26,575 per annum. The residential element of the property is sold off by way of a long lease with ground rent being paid of £200 per annum rising to £400 per annum in 2042.

INTERNAL AREA

Net internal areas as follows:

Ground Floor 119.58 sq m 1287 sq ft

TERMS

The properties 7 - 8 The Broadway are owned freehold and the property 6 The Broadway is owned by way of a long leasehold with approximately 120 years unexpired. These interests are for sale and offers are sought in the region of £375,000 plus VAT (if applicable) subject to contract.

BUSINESS RATES      

According to the Government website the property has a Rateable Value of £21,500. The current UBR for 2024/5 is 49.9p in the £.

VAT

We understand that the premises are not elected for VAT will not be payable on the purchase price. All rents, prices and premiums are stated exclusive of VAT under the Finance Act 1989.

LEGAL COSTS

Each party to be responsible for their own legal costs in the transaction.

EPC

The commercial unit has an EPC rating of D.