8 November 2022: Tuesday 08 November 2022 - 9:00am
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    Key features

    • Withdrawn due to missing legal pack information
    • Investment let at £49,000 p.a.
    • Let on a 10 year lease from 2018
    • Planning permission achieved by appeal for 6 x one bedroom flats in the upper floors. (Now Lapsed)
    • Possible other development potential in the upper floors for a residential led scheme or Hotel scheme (subject to the requisite consents)
    • Approx. 6,506 sqft (604.43 sqm) 

    Description

    Freehold retail investment with redevelopment opportunity of the upper parts situated opposite West Croydon Station.

    The property is a terraced, three storey property constructed over part basement. The ground floor and basement are in use as a retail Premises and the upper floors and areas not demised to the tenant are in a very poor state of decoration throughout and require full renovation.

    The property had planning permission approved for 6 x one bedroom flats in the upper floors through appeal (Now Lapsed).

    Nearby occupiers include Sainsburys (adjacent), Greggs, KFC, Pizza Hut, as well as a wide range of other independent retailers.

    Whitgift centre is also located in close proximity to the property which houses many national retailers .

    Additional information

    Tenure

    Freehold

    Accommodation

    Please note that the floor areas have been provided by the vendor and the property has not been inspected by Savills.


    Basement - an approx. 195.47 sqm (2,104 sq ft)

    Ground - an approx. 199 sqm (2,142 sq ft)

    1st & 2nd Floor - an approx. 209.96 sqm (2,260 sq ft)


    Total - an approx. 604.43 sqm (6,506 sq ft)


    Tenancy

    13-15 London Road (Ground and Basement)

    • Let to Loan arranger Limited
    • 10 year FRI lease from 20th June 2018
    • Investment let at £49,000 pa plus VAT
    • Tenant option to break at the expiry of year 5 subject to a penalty of £15,000 payable by the tenant.
    • 5 yearly rent reviews.

    Planning

    Croydon Council

    Ref:18/00050/REF (Granted on Appeal) Now Lapsed

    Description: Alterations to facade ; erection of roof extension to form third floor ; erection of four storey side / rear extension ; use of first, second and third floors as 6 one bedroom flats ; provision of associated refuse and cycle storage (amended description) 


    Rent

    £49,000 p.a.

    Notes

    Joint Auctioneer


    Panayiotis Themistocli

    panayiotis.themistocli@agg.uk.com

    M: 07973 856 232


    Please note the site areas provided are approximate. The photos and yellow line drawings are for illustrative purposes only and may not reflect the exact boundary of the site. The property has not been internally inspected by Savills. Prospective purchasers must rely upon their own enquiries in this regard.

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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

      Located on western side of London Road opposite West Croydon Station which provides regular services to London Terminals.

      West Croydon Station - located opposite the property

      Transport

      West Croydon Station - Overground and national rail services

      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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