The premises comprise two adjacent lock-up shop units together with a spacious two-bedroom flat above. The flat has its own self contained entrance fronting Chipstead Valley Road and benefits from modern kitchen units, UPVC double glazing and gas fired central heating.
Location
The property is located in the centre of Coulsdon, on the southern side of Chipstead Valley Road between its junctions with Brighton Road and Lion Green Road. Chipstead Valley Road comprises a vibrant mix of independent retailers and multiples, with Tesco Express and Aldi Supermarket close by.
There is free on-street parking (30 minutes) available on Brighton Road and a public car park around the corner in Lion Green Road. Coulsdon is located 4 miles to the north of the M25/M23 (Junction 7) via the A23. Coulsdon South Railway Station is within walking distance and there are numerous bus routes in the vicinity.
Accommodation
The premises comprise three units sold as a single freehold investment. Full accommodation and tenancy details are as follows:
51 Chipstead Valley Road — Shop (Vacant): Shop 337 sq ft (31.3 sq m) plus Basement 277 sq ft (25.7 sq m). Total 614 sq ft. Currently vacant.
53 Chipstead Valley Road — Shop (Let): Shop 345 sq ft (32.1 sq m) plus Basement 297 sq ft (27.6 sq m). Total 642 sq ft. Let to Glitz Windows and Conservatories Ltd (with guarantor). Lease term: 23 June 2025 to 22 June 2029. Rent £11,750 pa. Inside the Landlord & Tenant Act 1954. Tenant break option 23 June 2027. Tenant repairing obligation covers ground floor and basement including windows but excludes load-bearing or structural parts. Note: basement has restricted head height.
51A Chipstead Valley Road — Two-Bedroom Flat (Vacant): Gross Internal Area 722 sq ft (67.1 sq m). The flat has its own self-contained entrance fronting Chipstead Valley Road. Accommodation comprises 2 bedrooms, living room, kitchen, utility and bathroom. Currently vacant.
Total floor area (all units): approximately 1,978 sq ft (183.8 sq m).
Terms
Sale Price: £440,000 for the freehold, subject to contract.
Assuming the vacant shop is also let at £11,750 pa and the flat let at £16,800 pa (£1,400 pcm), a purchase at this level would reflect a Gross Initial Yield of 9.16%.
EPC Ratings:
Shop at 51 Chipstead Valley Road: D (76)
Shop at 53 Chipstead Valley Road: C (61)
Flat at 51A Chipstead Valley Road: C (69)
VAT: VAT is not applicable to the sale price.
Legal Costs: Each party is to pay their own costs.
Specification
- Freehold mixed-use retail & residential investment
- Town centre location
- One shop let & one shop vacant
- Includes vacant 2-Bedroom self-contained flat
- Currently producing £11,750 per annum
- Freehold price £440,000 (subject to contract)
- No VAT