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Price/premium:
£840,000
Size:
2,672 Square feet
Ref #3392
Address
Address:
12, Purley Parade, High Street, Surrey
Town:
Purley
Area:
Surrey
Postcode:
CR8 2AB
Location
Situated on Purley High Street, the premises benefit from a prime location close to a wide range of local shops and amenities. Purley railway station is only a few minutes’ walk from the property, providing convenient transport links for occupiers.
Description
A fantastic opportunity to acquire a fully let investment property producing a strong and secure income- Business unaffected.
The ground floor commercial premises are let to a well-established and reputable law firm that has occupied the property for many years. The tenant recently renewed their commitment to the premises by signing a new 10-year lease in March 2025 at a rental income of £48,600 per annum. The lease includes an upward-only rent review at the fifth anniversary and a tenant break option in March 2028, subject to six months’ prior written notice. The lease is contracted inside the provisions of the Landlord and Tenant Act 1954.
The residential flats were sold on long leases of 999 years from 2001. We are advised that each flat contributes a ground rent of £200 generating an additional income of approximately £11,400 per annum.
We understand the ground floor commercial space measures circa 2670 sq ft (taken from the VOA website)- please verify prior to contract.
EPC Rating - B
This represents a clean and straightforward investment opportunity, ideal for an investor seeking a well-located asset with a professional tenant in situ and established long-term income.
General Information
Tenure:
Freehold
Price/premium:
£840,000
Legal fees:
Each party to bear their own
Rateable value:
The VOA website states a rateable value of £48,250 payable at the prevailing rate.
Lease details:
10 year lease from March 2025
Features
Densely populated area
Floorplan(s)
Important Notice
Information supplied by franklin commercial is intended as a general guide only & should always be verified by you prior to contract (we do not usually inspect leases/service charge accounts etc or test any amenities/services). We do not guarantee the accuracy of approximate measurements/areas quoted, plans or any other information, which may have been supplied to us by Clients. Our descriptions do not form part of any contract and nothing is included unless it is in the solicitors contract for sale. All inspections/negotiations must be conducted through us & information should not be transmitted to 3rd parties. Under no circumstances may a direct approach to the business, vendor or lessee be made - staff are usually unaware of a proposed sale. Rents/Prices quoted are always exclusive of V.A.T. (if applicable).