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    Key features

    • Retail investment located within the Queen's Quarter Development in Croydon town centre,
    • A popular London commuter town, approximately 9.5 miles south of Central London•
    • The property has a gross internal floor area of 3,400 square feet (316 square metres)
    • Occupied by Southern Co-Op (Jay Retail Ltd) on a 15-year lease from January 2024, with a current passing rent of £50,000 per annum which represents a gross yield of 8.69% on guide price

    Description

    The property is arranged over ground floor only. The property has a gross internal floor area of 3,400 square feet (316 square metres).Please note that the sizes given are approximate only and have been taken from plans provided from by the seller. All interested parties are advised to relyon their own inspection and survey.

    London supermarket investment located in Croydon town centre. The property has a gross internal floor area of 3,400 square feet (316 square metres) and is occupied by Southern Co-Op (Jay Retail Ltd) on a 15-year lease from January 2024. The current passing rent of £50,000 per annum which is considered to be below the current market value. A sale at Guide represents a gross yield of 8.69% on guide.

    Additional information

    Tenure

    Leasehold - The property is held on a 250-year lease from August 2019 with no ground rent payable.

    Tenancy

    The property is let to Jay Retail Ltd (t/a Southern Co-Op) on a 15-year lease from January 2024, with a current passing rent of £50,000 per annum. Thereis a CPI linked rent review in 2029 and 2034.There is a tenant only break option in January 2034.

    Rent

    £50,000 per annum

    Notes

    Please note the areas provided are approximate. The photos and any drawings are for illustrative purposes only and may not reflect the exact boundary of the property. Prospective purchasers must rely upon their own enquiries in this regard. Please refer to the legal pack.


    Joint Agent:

    Nick Harston

    Harston&Co 

    

    nick@harstonandco.co.uk

    Tel: +44 (0) 20 3371 0061

    Mob: +44 (0) 7984 190781

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      All viewings at this property have now taken place prior to the auction. For further information on the property please download the legal pack or email the property contact.

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      Viewings are in the process of being finalised and will be online shortly, please click here for a notification when they go online.

      No set viewings will be available on this property prior to auction due to the tenants in situ. Please refer to the legal pack for further information.

      No set viewings will be available on this property prior to auction due to safety concerns within the property. Please refer to the legal pack for further information.

      There are no formal viewings for this property. You can visit during commercial trading hours as a customer.

      Local information

      The property is located within Block 3 of the new Queen's Quarter development, a thoughtfully designed neighbourhood in Croydon town centre.The development fronts onto The Queen’s Gardens, a revitalised community green space, comprising vast lawns, trees, a large children’s play area withbenches, and a sunken garden area with flower beds.Queen's Quarter also benefits from exceptional connectivity to London and beyond.

      Situated just moments from East Croydon station, it is one of thebusiest public transport interchanges in the UK. Regular services provide direct access into London Victoria Station (17 minutes) and London BridgeStation (13 minutes), which in turn link to the London Underground networks. Three local tram routes and several bus routes are also available adjacent tothe development.

      Legal documents

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      EPC rating

      If no EPC rating appears please refer to the legal pack.

      Guide prices and common auction conditions

      •Guide prices given are indications within 10% upwards or downwards of where the reserve price may be set at the time of going to print. Please note they are not an indication of the anticipated sale price or a valuation.

      •The reserve price is the minimum price at which the property can be sold.

      •Both the guide price and reserve price may be subject to change up to and including the day of the auction.

      •For unsold properties after an auction an Available price may be listed. This is the price that the seller(s) are looking for post auction, subject to contract and no higher offers, and has no relation to the guide prices listed prior to the auction sale.

      Please note that all prices listed, whether prior to or post auction, are subject to contract.

      The Auctioneers and sellers accept no responsibility for any loss, cost or damage that a buyer may incur as a result of relying on any guide price. It is the buyer's responsibility to decide how much they should bid for any lot. Please check with us for regular updates as guide prices are subject to change prior to the auction.

      The guide price does not include the buyer's fee charged by the auctioneer or VAT which may apply to the sale or other amounts the seller may charge. The seller's Special Conditions of Sale will state whether there are other seller's charges and whether the seller has elected to charge VAT on the sale price.

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