69 North End and 1/1a Drummond Road
Croydon
London
CR0 1TG

Freehold Retail & Charity Let Commercial/Office Investment

  • Prime pedestrianised retail location between The Centrale Centre and The Whitgift Centre
  • Fully let comprising a Shop, Charity-let Office and a Juice Bar
  • Shop let to Footasylum Limited a part of JD Sports
  • Recently extended shop lease from October 2021 at a rent re-based from £139,000 to £120,000 pa (2)
  • Potential residential conversion/development of upper parts (subject to lease and consents)
  • Neighbouring occupiers include H&M, Zara, Next, Greggs, Holland & Barrett, Footlocker and Pandora
  • Lot
    8
  • Auction
    04/Nov/2021
  • Rent
    £145,500 per Annum Exclusive
  • Status
    Contact Us
  • Price*
  • Sector
    High Street Retail
  • Auction Venue
    Live Streamed Auction
Important Update
  • 69 North End and 1/1a Drummond Road, Croydon, London, CR0 1TG
  • Expand
  • Photos
  • Map

* More information on the term "price" can be found here

Property Information

Location
Miles
10 miles south of Central London
Roads
A212, A236, A23, M25 (Junction 7)
Rail
West Croydon Railway Station,
Centrale Tram Stop
Air
Gatwick Airport, Heathrow Airport
Situation

The property is prominently located in the heart of Croydon Town centre in a prime pedestrianised retail pitch. Neighbouring occupiers include H&M, Zara, Next, Greggs, Holland & Barrett, Footlocker and Pandora. A 5.25 billion regeneration of Croydon's town centre is currently underway. About a third of the new homes identified in the local plan are expected to be built in the town centre and the redevelopment of the Whitgift Centre is set to create a flagship retail destination (https://www.croydon.gov.uk/ 28/09/2021).

Tenure

Freehold.

Description

The property comprises a shop arranged on the ground floor and basement, separately accessed offices on the first and second floors, and a juice bar at the rear, accessible from Drummond Road.

VAT

VAT is applicable to this lot.

Completion Period

10 Week Completion Available

EPC

See legal pack at www.acuitus.co.uk.

Tenancy & Accommodation

FloorUseFloor Areas
(Approx)
TenantTermRent p.a.xReview
Ground
Basement
Retail
Ancillary
165.74 sq m
125.99 sq m
(1,784 sq ft)
(1,356 sq ft)
FOOTASYLUM
LIMITED (1)
5 years from
24/10/2021 (2)
£120,000-
First
Second
Office
Office
47.38 sq m
54.53 sq m
(510 sq ft)
(587 sq ft)
STUDIO
UPSTAIRS (3)
10 years from
12/07/2018 (4)
£18,000 rising to
£19,000 in July 2022
12/07/2023
GroundRetail
32.60 sq m
(351 sq ft)
JUICE IT LIMTED
T/a Juice It
10 years from
20/05/2020
£7,50020/05/2025

(1) For the year ended 30th January 2021, Footasylum Limited reported a turnover of £232,001,000, a pre tax profit of £348,000 and shareholder funds of £34,047,000 (Source: NorthRow 28/09/2021). Footasylum trade from over 65 high street stores in the UK and are part of JD Sports (www.footasylum.com 29/09/2021).
(2) Footasylum occupy under a 10 year lease from 2011 that expires on 23/10/2021 at a current rent of £139,000 p.a. A new 5 year reversionary lease, at a rebased rent, has been completed subject to a tenant option to determine in October 2024. The tenant is paying half rent for the period from 25th June 2021 to 24 June 2022. The seller will make an allowance from completion of the sale to the expiry of the concessionary rental period, so that the property produces £120,000 per annum.
(3) Studio Upstairs are an arts and health charity, established in 1988 (www.studioupstairs.org.uk 29/09/2021).
(4) The lease provides for a tenant option to determine on 13/07/2023. The lease is drawn outside the security of tenure provisions of the Landlord and Tenant Act 1954.

If you are the successful bidder, Acuitus requires a separate payment of £1,000 inclusive of VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.

Due to the current restrictions in movement throughout the UK, the property may not have been inspected by Acuitus. Some photographs may not be current and these will be dated where this is the case. Plans showing nearby occupiers and mention of nearby occupiers may reflect a dated situation as some tenants are not currently in occupation. Floor areas and accommodation details are likely to have been obtained from VOA.Gov.UK and the Vendor.

Property Documents

  • Solicitors Legal Pack
    Updated Date
    15.10.21
    File Size
    46 MB
    Login to View
  • Catalogue Page
    Updated Date
    15.10.21
    File Size
    2 MB
    View PDF
  • Site Plan
    Updated Date
    15.10.21
    File Size
    899 KB
    View PDF
  • Common Auction conditions
    Updated Date
    10.06.21
    File Size
    168 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Acuitus
David MargolisDavid Margolis +44 (0)20 7034 4862 +44 (0)7930 484 440david.margolis@acuitus.co.uk
Peter MayoPeter Mayo +44 (0)20 7034 4864 +44 (0)7833 459318Peter.mayo@acuitus.co.uk
Seller's Solicitors
Keystone Law
Graham Goldspink 020 3319 3700graham.goldspink@keystonelaw.co.uk

Useful Links

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