Investment Properties: Hustler Club, 12-20 Crown Hill, Croydon, CR0
Hustler Club, 12-20 Crown Hill, Croydon, CR0
Guide Price £900,000 subject to contract - Virtual Freehold
- Located in the centre of Croydon close to the junction of North End and High Street
- Provides a nightclub over Ground, first and second floors.
- Total floor area of c. 8,700 sq ft.
- Virtual Freehold – 999 years at a peppercorn (sale includes the air rights above the Hustler club).
- Let for 20 years until 06 Sept 2025 (8.1 years unexpired) with a tenant’s break option - subject to 6 months’ written notice- on 5 Sept 2020 (3.1 years term certain).
- Let to WDV Talent Agency London Ltd (via assignment in May 2007) – Creditsafe score of 94.
- Passing rent – £80,000 per annum / £9.20 per sq ft.
- 5 yearly upward only rent reviews.
- Rent Deposit held of £40,000.
- Guide Price £900,000 / 8.41% NIY (assuming purchaser’s costs of 5.63%).
- Capital value of £103 per sq ft.