Let on a recent 15 year lease until 2031 (No breaks)
50m from the main entrance to the Major 130+ unit Glades Shopping Centre
Nearby occupiers include Debenhams, Apple, H&M, River Island and Boots the Chemist
Producing £50,000 (Gross)
For the Seller's Legal Pack, please click the Property Documents tab below
Lot 29
Auction 25th May 2017
Rent £50,000 per Annum Exclusive
Status Sold
Price £627,000
Sector High Street Retail
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
7 miles north-east of Croydon, 12 miles south-east of Central London
Roads
A21, A205 (South Circular Road), M25 (Junction 4)
Rail
Bromley South Railway Station
Air
London City Airport, London Gatwick Airport, London Heathrow Airport
Situation
The property is situated on the south side of Elmfield Road, directly opposite the major 130+ unit Glades Shopping Centre and adjacent to the Mall Shopping Centre. The Glades Shopping Centre accommodates major occupiers including Marks & Spencer, Debenhams, H&M, River Island, Costa Coffee, Superdrug, Apple, French Connection, The Disney Store and Footlocker.
Tenure
Virtual Freehold. Held for a term of 999 years from completion at a fixed ground rent of £300 per annum.
Location
Miles
7 miles north-east of Croydon, 12 miles south-east of Central London
Roads
A21, A205 (South Circular Road), M25 (Junction 4)
Rail
Bromley South Railway Station
Air
London City Airport, London Gatwick Airport, London Heathrow Airport
Situation
The property is situated on the south side of Elmfield Road, directly opposite the major 130+ unit Glades Shopping Centre and adjacent to the Mall Shopping Centre. The Glades Shopping Centre accommodates major occupiers including Marks & Spencer, Debenhams, H&M, River Island, Costa Coffee, Superdrug, Apple, French Connection, The Disney Store and Footlocker.
Tenure
Virtual Freehold. Held for a term of 999 years from completion at a fixed ground rent of £300 per annum.
Description
The property comprises ground and first floor retail accommodation and forms part of a larger building.
VAT
VAT is applicable to this lot.
Completion Period
Six Week Completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises ground and first floor retail accommodation and forms part of a larger building.
VAT
VAT is applicable to this lot.
Completion Period
Six Week Completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Review
Ground First
Retail Retail
120.00 sq m 112.00 sq m
(1,292 sq ft) (1,206 sq ft)
INDIVIDUAL t/a Creams, The Italian Gelato Co
15 years from August 2016
£50,000 (1)
08/2021 and 2026
Total
232.00 sq m
(2,498 sq ft)
£50,000
(1) The lease provides for a tenant option to determine the lease in August 2021 and August 2026 .
