Investment Properties: PureGym, 12-20 Crown Hill & Frith Road, Croydon, CR0

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PureGym, 12-20 Crown Hill & Frith Road, Croydon, CR0

Guide Price £3,100,000 subject to contract - 999 year lease at a peppercorn rate

  • Prominent corner position by the junction of Frith Road and Crown Hill.
  • First floor gym.
  • Total floor area 18,489 sq ft.
  • Let to PureGym Ltd.
  • New 15 year lease from 10th October 2017 (TBO at year 10).
  • Passing rent – £210,000 per annum / £11.36 per sq ft (12 months’ rent free to be topped up by the vendor).
  • Rent reviews to RPI with a cap and collar at 1% - 3% pa compounded every 5 years.
  • Tenure – 999 year lease at a peppercorn rate Guide Price £3,100,000 / 6.4% NIY (assuming purchaser’s costs of 6.46%).
  • Capital value of £167 per sq ft.