5 Saffron Central Square Croydon London CR0 2FT

5 Saffron Central Square
Croydon
London
CR0 2FT

South London Retail Investment

Shop Let to an Estate Agents (t/a 1st Avenue) on 10-year lease expiring March 2033 (subject to mutual option)
March 2028 Rent Review linked to the Retail Price Index subject to a Minimum of 1% and a Maximum of 4%
Popular and Busy South London Location
Within Berkeley Homes Scheme with 750 Residential Units
500 metres from West Croydon Overground Station (25 minutes from London Bridge)
Close to Whitgift Shopping Centre where retailers include Marks & Spencer, Sainsbury's, Boots the Chemist, McDonald's, Caffe Nero, Costa Coffee, Zara and H&M

Lot
27
Auction
15th February 2024
Rent
£20,500 per Annum Exclusive
Status
Sold
Price
£219,000
Auction Venue
Live Streamed Auction
On Behalf of Berkeley Homes

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South London Retail Investment

Shop Let to an Estate Agents (t/a 1st Avenue) on 10-year lease expiring March 2033 (subject to mutual option)
March 2028 Rent Review linked to the Retail Price Index subject to a Minimum of 1% and a Maximum of 4%
Popular and Busy South London Location
Within Berkeley Homes Scheme with 750 Residential Units
500 metres from West Croydon Overground Station (25 minutes from London Bridge)
Close to Whitgift Shopping Centre where retailers include Marks & Spencer, Sainsbury's, Boots the Chemist, McDonald's, Caffe Nero, Costa Coffee, Zara and H&M

Lot 27
Auction 15th February 2024
Rent £20,500 per Annum Exclusive
Status Sold
Price £219,000
Sector
High Street Retail
Auction Venue
Live Streamed Auction
On Behalf of Berkeley Homes

Property Information

Location

Miles: 9 miles south of the City of London
Roads: A23, A212, A222, A232, A236
Rail: West Croydon Railway Station, East Croydon Railway Station (London Bridge in 14 minutes)
Air: London Heathrow Airport, London Gatwick Airport

Situation

Croydon is one of the principal retail centres south of London located approximately 9 miles south of Central London. The town lies adjacent to the A23 which gives direct access to the National Motorway Network via the M23 and M25. The property boasts excellent rail links being 500 metres from West Croydon Station (25 minutes from London Bridge) and close to East Croydon Station which benefits from six trains per hour to Victoria station.

The property is prominently situated in Saffron Central Square, a recently developed residential and retail scheme in the heart of Croydon. The Scheme provides for 750 apartments and over 10 commercial units. The property is 400 metres from Whitgift Shopping Centre where retailers include Marks & Spencer, Sainsbury's, Boots the Chemist, McDonald's, Caffe Nero, Costa Coffee, Zara and H&M.

Tenure

Virtual Freehold. Held for a term of 999 years from completion of the sale at fixed peppercorn rent.

Location

Miles: 9 miles south of the City of London
Roads: A23, A212, A222, A232, A236
Rail: West Croydon Railway Station, East Croydon Railway Station (London Bridge in 14 minutes)
Air: London Heathrow Airport, London Gatwick Airport

Situation

Tenure

Virtual Freehold. Held for a term of 999 years from completion of the sale at fixed peppercorn rent.

Description

The property comprises ground floor business / Retail accommodation situated within the the central courtyard of a highly attractive and recently developed, modern residential scheme comprising over 750 residential units. Commercial tenants within the development include Tesco.

VAT

VAT is not applicable to this lot.

Note

8 Saffron Central Square is being offered for sale as Lot 31.

Completion Period

Six Week Completion

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

VAT

VAT is not applicable to this lot.

Note

8 Saffron Central Square is being offered for sale as Lot 31.

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 sq m	Floor Areas (Approx sq ft)	Tenant	Term	Rent p.a.x.	Rent Review
Ground	Estate Agent	89.84	(967)	1ST AVENUE.CO.UK LIMITED (crn: 05913713) (t/a 1st Avenue Real Estate Services) (1)	10 years from 04/03/2023 (2)	£20,500	04/03/2028 linked to the Retail Price Index subject to a minimum of 1% and a maximum of 4%
Total Approximate Floor Area		89.84	(967)			£20,500

(1) 1st Avenue.co.uk Limited (crn: 05913713) are Estate Agents that have been incorporated since 2004 and specialise in letting, managing and selling New Build Apartments. They currently operate from two other locations in Greenwich, Docklands & City and Bromley (www.1stavenue.co.uk). 1st Avenue.co.uk Limited (crn: 05913713) have a Dun & Bradstreet rating of 1A2 - £700,000 to £1,499,999 in Tangible Net Worth or Equity, Lower than Average Risk .
(2) The lease is subject to a mutual option to determine the lease on 04/03/2028 on 6 months written notice. The lease is contracted outside of the Security of Tenure Provisions of the Landlord & Tenant Act 1954. The lease provides for a rent review on the 04/03/2028 in line with the Retail Price Index subject to a minimum of 1% and a maximum of 4%.

If you are the successful bidder, Acuitus requires a separate payment of £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.