Investment Properties: PureGym, 12-20 Crown Hill & Frith Road, Croydon, CR0
PureGym, 12-20 Crown Hill & Frith Road, Croydon, CR0
OIEO £2,700,000 subject to contract - New long 999 year lease at a peppercorn rate
- Croydon is one of London’s largest boroughs, with a large catchment population and growing economy.
- Situated in a prominent corner position by the junction of Frith Road and Crown Hill.
- Provides a new gym at first floor level with a total area of 18,489 sq ft (GIA).
- New long leasehold of 999 years at a peppercorn rent.
- Let to PureGym Ltd on a new 15 year lease from 8th November 2017 (TBO at year 10).
- Passing rent of £191,500 per annum / £10.36 per sq ft.
- Rent reviews to RPI with a cap and collar at 1% - 3% pa compounded every 5 years.