2-8 Park Ln

• Croydon serves as London’s largest borough and one of the largest commercial and financial centres in the South East, outside of London.
• The town boasts an estimated total retail expenditure of £2.264 bn, with 61.8% of the population categorised within the most affluent AB and C1 social grades (against national average of 53.2%)
• The property is situated on the junction between Park Street and Park Lane, a major thoroughfare which runs through the heart of Croydon – from North End to East Croydon station which is located approximately 350m to the east. • Held Long Leasehold for a term of 125 years from 29 September 1997, at a peppercorn rent.
• The property comprises two modern leisure units (15,574 sq ft), situated below 13 residential flats (sold-off) and constructed by renowned residential developer Galliard Homes.
• Let to Wagamama Ltd and Stonegate Pub Company Ltd at a total rent of £241,500 per annum, with a WAULT of 9.18 years to expiry. We are instructed to seek offers in excess of £2,840,000 (Two Million, Eight Hundred and Forty Thousand Pounds), subject to contract and exclusive of VAT. A purchase at this level would reflect an attractive Net Initial Yield of 8.00%, after the deduction of standard purchaser’s costs of 6.43%.