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