September 2020: Thursday 24 September 2020 - 9:00am
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    Key features

    • First time on the market for 18 years
    • A large three story building arranged as supermarket and offices let to Tescos along with six flats
    • Flat roof to the rear (with potential subject to requisite consents and Tesco's permission)
    • Total Current Rent £135,256 per annum

    Description

    The property is arranged on basement, ground, first and second floors

    The ground floor together with ancillary basement storage and part of first floor arranged as offices are let to Tesco Supermarket

    In addition to the above the first and second floor provide a further 6 flats (5 x large studio flats and 1 x one bedroom flat) from a separate front entrance

    Further development possibility on the rear roof (please see the legal pack) subject to requisite consents and Tesco's permission


    Virtual Tour Flat 1

    Virtual Tour Flat 2

    Virtual Tour Flat 3

    Virtual Tour Flat 4

    Additional information

    Tenure

    Freehold

    Accommodation

    Basment 1,350 sq ft,

    Ground Floor 2,812 sq ft,

    First floor 2,247 sq ft,

    Second Floor 831 sq ft.


    Flat 1, Studio, 412 sq ft (38.3 sq mt)

    Flat 2, Studio, 437 sq ft (40.6 sq mt)

    Flat 3, Studio, 550 sq ft (51 sq mt)

    Flat 4, Studio, 276 sq ft (25.6 sq mt)

    Flat 5, Studio, 253 sq ft (23.5 sq mt)

    Flat 6, 1 bed, 330 sq ft (30.7 sq mt)

    Tenancy

    Ground Floor and Part First Floor - Let on 10 year agreement to Tesco Stores Ltd from 2nd August 2011 at £89,256.47

    Part First Floor and Second Floor - Let on separate Assured Shorthold Tenancy agreements at £56,100 per annum. 


    Rent

    Total Current Rent £145,356 per annum

    Notes

    The seller has informed us that the tenant has recently carried out works to improve the property. Buyers should conduct their own due diligence in relation to this point.


    A copy of an Award Winning Formation Architects Feasibility Report for possible Development is available form the auctioneer.

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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

      Croydon has a population of some 390,000 and is one of the principal retail centers south of London, covering an area of 22,000 acres approximately 9 miles to the south of central London

      The property occupies a prominent position on George Street, one of the main thoroughfares between East Croydon station and the High Street/North End, and is ideally located opposite George Street tram station

      Nearby commercial occupiers include Nationwide, Santander, Natwest, Barclays, Yorkshire Building Society, Pizza Hut and JD Wetherspoon

      Entertainment facilities can be found in the nearby Grant's while Queen's Gardens Croydon and Park Hill Park are close by

      Transport

      East Croydon (Gatwick Express, Southern, Thames Link)

      West Croydon (Overground, Southern)

      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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