Venture House & Downlands Shopping Precinct, 15-31 High Street & 923 Brighton Road, Purley, CR8 2AF

Borough of Croydon just 13 miles south of Central London.Purley allows for easy multi-modal access to rail, road and air which in turn connect the town to key national and international destinations.Purley benefits from 9 trains per hour to London, with a fastest journey time of 22 minutes.Venture House & Downlands Shopping Precinct is situated in the heart of Purley town centre, 90 seconds walk from the railway station and fronting the two principal shopping locations.The property principally comprises 10 retail units on the ground floor with office accommodation on the two upper floors.A total of 29 car parking spaces.Large, town centre site extending to 0.6 acres offering development potential (subject to planning).Freehold.The property is let to 8 tenants with retail covenants including Boots, Ladbrokes and Subway.Combined income of £XXX per annum.Numerous asset management opportunities to increase the rental tone, enhance the income profile and improve the WAULT on the retail element and convert the upper floors to residential use.A Permitted Development Rights (PDR) application has been approved for change of use of the office accommodation to 24 residential units.Increasing residential values in Purley have been driven by a lack of stock in the market and the discount Purley provides relative to surrounding towns such as Croydon, where residential values have reached up to £XXX per sq ft.Offers are sought in excess of £XXX (Four Million, One Hundred and Fifty Thousand Pounds), subject to contract and exclusive of VAT.A purchase at this level reflects an attractive net initial yield of 7.50% on the retail income and AST exclusive of purchaser’s costs of 6.31% and a low capital value of £XXX per sq ft on the upper floors.

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