Map View
Sold on 19/04/2023
£13,200,000
£253,256 per annum
Croydon is a principal retailing location in Greater London and has been selected as an opportunity area in the London Plan 2021. The borough is located 11 miles (18km) south of Central London, 5 miles (8km) south west of Bromley and 9 miles (14km) south east of Kingston upon Thames. The property is prominently situated on London Road at its junction with Montague Road, a short walking distance from West Croydon overground station and in close proximity to Croydon town centre, both directly south of the site
The property comprises a supermarket, gym and office building arranged over six floors in total, including two levels of parking. The supermarket is occupied by Lidl and is arranged over ground and mezzanine levels and benefits from a dedicated surface carpark providing approximately 174 car parking spaces, an attractive ratio of 1:123 sq. ft. The unit has been refurbished by the tenant in recent years. The gym is occupied by The Gym and is sublet from Lidl. The units is arranged over Ground and Mezzanine floors. . There are two floors of office space which are selfcontained, with a dedicated entrance fronting London Road, at its return onto Montague Road. Internally there are suspended ceilings, raised floors, plastered and painted walls, carpet tiled flooring and extensive tenants partitioning. Secure car parking for the office space is located directly beneath the accommodation and provides 121 spaces, providing a ratio of c1:189 sq ft.
£1,057,350.00 per annum exclusive
Freehold
A net initial yield of 7.3%.
Partner | Investment
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abrdn
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La Salle Investment Management
The expertise and excellent client focus provided by Team G&P is greatly valued and appreciated. The continuing hard work to support our investment, Leasing and Asset Management activities has enabled us to drive investment performance for our clients.
M & G Real Estate
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DTZ Investors
With Green & Partners you get Partner level involvement and Commitment whether it's an MSU or a small kiosk. They are creative and tenacious and have a very good knowledge of shopping centres and the retailer market at all levels.
Hammerson
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