Warehouse for sale

37/39 Imperial Way, Croydon, Surrey, CR0

£6,500,000
40,000 sq. ft.

Property Description

Commercial information

  • 40,000 sq ft (3,716 sq m)
  • Use class orders: B1 Business

Full description

Investment Summary:
Located 35 miles to the south of central London and 40 miles to the north of Gatwick Airport.
Established location 7 miles to the south of the Croydon town centre off the A23 Purley Way.
Building has been extensively refurbished and upgraded.
Floor area 40,000 sq ft / 3,715 sq m (Est. GIA)
Site area 1.72 acre (approximately)
Let to Selco Trade Centres Ltd for a term of 15 years from 28 June 2016 subject to 5 yearly upwards only rent review.
Rent £400,000 per annum exclusive.
89 Year unexpired Head lease for sale subject to 10 yearly upwards only rent reviews to 15% OMV, next review 2022. Current rent payable £32,000 per annum.
We are instructed to seek offers n excess of £6,500,000.
A purchase at this level reflects a net yield of 5.35%.

Tenure:
The property is held on a long leasehold interest for a term of 125 years from 25 December 1982. The lease is subject to upwards only rent reviews every 10 years to 15% of the open market rental value the next review being in 2022. The current rent payable to the freeholder is £32,000 per annum exclusive.

Lease:
The premises are let to Selco Trade Centres Limited (company number 02182671) for a term of 15 years from 28 June 2016. The lease is drawn on full repairing and insuring terms subject to a Schedule of Condition. The lease contains upwards only rent reviews at the end of the 5th and 10th years.

Proposal:
Our clients are seeking offers in excess of £6,500,000 exclusive of VAT for the benefit of their Head leasehold interest.
A purchase at this level based upon a net income of £368,000 per annum (after deducting payment of the head lease rent) reflects a yield of 5.35% assuming purchasers costs of 5.8%.


More information from this agent

Nearest stations

  • Waddon (0.7 mi)
  • Wandle Park (1.2 mi)
  • Purley Oaks (1.2 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

David Charles Property Consultants Limited, Pinner

29 High Street Pinner HA5 5PJ

020 8012 1643 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Map & Street View

Nearest stations

  • Waddon (0.7 mi)
  • Wandle Park (1.2 mi)
  • Purley Oaks (1.2 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

David Charles Property Consultants Limited, Pinner

29 High Street Pinner HA5 5PJ

020 8012 1643 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

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