The courtyard 131 AURELIA ROAD - bcmre.com · M3 M25 M25 M25 M23 M20 M26 CENTRAL LONDON HEATHROW AIRPORT GATWICK AIRPORT CROYDON. The courtyard | 131 AURELIA ROAD | CROYDON | CR0

The courtyard | 131 AURELIA ROAD | CROYDON | CR0 3BF

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The courtyard 131 AURELIA ROAD

CROYDON | CR0 3BF

Well located Greater London industrial investment

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INVESTMENT SUMMARY• Well located Greater London industrial terrace totalling

16,207 sq ft across 8 units.

• Strategically located 2 miles north west of Croydon Town Centre, just off the A23 Purley Way, providing easy access to the national motorway network.

• The property is immediately opposite Thornton Road Trading Centre, and West Retail Park, which are home to various national occupiers

• The property is subject to a new 10 year lease from 22nd June 2017.

• Fully let to DanceSport International at passing rent of £162,000 per annum, reflecting £10.00 per sq ft with open market rent review in year 5.

• Freehold

• We are instructed to seek offers in excess of £2,540,000 (Two Million, Five Hundred and Forty Thousand Pounds), subject to contract and exclusive of VAT.

• A purchase at this level would reflect a Net Initial Yield of 6.00%, assuming purchaser’s costs of 6.39% and a low capital value of £157 per sq ft.


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LOCATIONAurelia Road is located in the London Borough of Croydon which is one of the principal commercial centres in Greater London. Croydon is located approximately 9 miles south of Central London and 6 miles north of the M25.

Croydon benefits from excellent road communications to the national motorway network. The town is strategically located adjacent to the A23 trunk road which provides direct access to the M25 (Junction 7) and the M23 (Junction 8).

Croydon benefits from excellent rail links with 3 mainline stations providing frequent services into London Victoria and London Bridge, the fastest taking only 16 minutes.

Furthermore, the town benefits from the Croydon Tramlink, a local tram network which provides regular services across the town. London Gatwick airport is directly accessible via the A23/M23, approximately 20 miles to the south while London Heathrow airport lies 17 miles to the north west.

Croydon is currently undergoing significant regeneration under Croydon Borough Council’s ‘Croydon Vision 2020’ scheme. Major schemes include Westfield Croydon, Ruskin Square and the extension of the East London Line. These major regeneration projects, including substantial residential developments are transforming Croydon into a major business, retailing and culture hub in South London.

The town is strategically located adjacent to the A23 trunk road which provides access to the M25 (Junction 7) and the M23 (Junction 8).

A323

A406

A406

A406

A316

A13

A12

A20

A2

A3

A23

A23

A40

A10

A24

M25M40

M11

M1

M4

M3

M25

M25

M25

M23

M20

M26

CENTRALLONDON

HEATHROWAIRPORT

GATWICKAIRPORT

CROYDON


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MITCHAM ROAD

MITCHAM ROAD

PAR

K L

AN

E

WH

ITEH

ORSE

ROA

D

WINDMILL ROAD

ST JAME’S ROAD

LONDON R

D

AURELIA R

OAD

PU

RLE

Y W

AY

P

UR

LEY

WAY

TH

OR

NTO

N R

OAD

BARCLAY ROAD

CROYDON

A236

A236

A236

A232

A232

A212

A212

A222

A213

B243

B266

A23

A23

A232

CROYDON UNIVERSITYHOSPITAL

SituationThe subject property is situated on Aurelia Road, approximately 2 miles north west of Croydon Town Centre. Aurelia Road is located just off the A23 Purley Way, via Shamrock Road, which provides access to the national road network.

The property is surrounded by commercial and residential uses with Thornton Road Trading Centre, and West Retail Park immediately opposite. Surrounding occupiers include national tenants such as Topps Tiles, Howdens, Big Yellow Storage, Al Murad Tiles, Carpet Right, and Wren Kitchens.


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DESCRIPTION131 Aurelia Road was redeveloped in c.1990 to provide a terrace of 8 self-contained industrial units on a secure self-contained site. There is a secure service yard to the front of each unit.

The building is constructed using cast in-situ concrete columns and downstand beams supporting full cover, cast in-situ concrete floors.

The property provides the following specification:

• 4m eaves at ground floor

• Approximately 19m maximum service yard to the front

• Dedicated parking

• Roller shutter doors

• Secure perimeter fencing

• 1st floor offices with mineral tiled suspended ceiling

• Male and Female WCs

• Distinct Utilities


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ACCOMMODATIONThe property has been measured by Plowman Craven in accordance with the RICS Code of Measuring Practice (6th Edition) on a Gross Internal Areas (GIA) basis. The measured survey is available with an appropriate warranty to the purchaser.

UNIT GROUND FLOOR FIRST FLOOR TOTAL

SQ FT SQ M SQ FT SQ M SQ FT SQ M

3 1,090 101.3 1,082 100.5 2,172 201.8

4 1,075 99.9 1,065 98.9 2,140 198.8

5 1,074 99.8 1,063 98.8 2,137 198.6

6 1,071 99.5 1,066 99.0 2,137 198.5

7 1,076 100.0 1,071 99.5 2,147 199.5

8 1,086 100.9 1,067 99.1 2,153 200.0

9 816 75.8 812 75.4 1,628 151.2

10 850 79.0 843 78.3 1,693 157.3

TOTAL 8,138 756.2 8,069 749.5 16,207 1,505.7

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SITEThe Property has a total site area of approximately 0.387 acres (0.157 ha).

TENUREFreehold

34.8m

El Sub Sta

127129

1

2

119

Ash Tree Villas

8

The Courtyard

9

10

3

2b

2a

2

1

131

121

123

m

0m 5m 10m 15m

Ordnance Survey © Crown Copyright 2017. All rights reserved.Licence number 100022432. Plotted Scale - 1:526

NOTE:- Reproduced from the Ordnance Survey Map with the permission of the Controller of H.M. Stationery Office. © Crown copyright licence number 100024244 Savills (UK) Ltd. NOTE:- Published for the purposes of identification only and although believed to be correct accuracy is not guaranteed.


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TENANCYThis property is let in its entirety to DanceSport International Ltd (Company Number: 01663333) on a new 10 year lease from 22nd June 2017.

The headline rent is £162,000 per annum, reflecting £10.00 per sq ft, with half rent in year 1 (vendor to top up). The rent will be subject to an Open Market Value rent review in the 5th year.

The lease is drawn on Full Repairing and Insuring terms and is subject to a Schedule of Condition.

DanceSport International Ltd was formed in 1982. The company is a leading retailer and wholesaler of Ballroom Dance related products and is renowned best for the design and manufacture of Ballroom and Latin dresses and dancewear. The company serves their international customer base from the subject property with key clients including BBC (manufacturing dance costumes for the “Strictly Come Dancing” series), Harrods and the British Junior Dance team.

More information can be found online at:

www.dsi-london.com


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EPCEPC certificates are available upon request.

VATThe property is elected for VAT and it is anticipated that the sale will be treated as a transfer of a going concern.

PROPOSALWe are instructed to seek offers in excess of £2,540,000 (Two Million, Five Hundred and Forty Thousand Pounds), subject to contract and exclusive of VAT.

A purchase at this level would reflect a Net Initial Yield of 6.00%, assuming purchaser’s costs of 6.39% and a low capital value of £157 per sq ft.

OCCUPATIONAL MARKETThe occupational market in Croydon remains robust, driven by both limited supply and increased pressures on industrial land from higher value uses. This supply constraint is putting upward pressure on rents and delivering real rental growth across the market. The vacancy rate for industrial space in Croydon presently stands at 2.4% versus 5 year average of 2.9%.

Overall affordability of smaller units and their resultant wide appeal offers the potential to achieve top rents. Current estimated rental value if the units were to be broken up are in the region of £11.00 - £11.50 psf.

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CONTACTSFor further information please contact:

Jonothan Holmes +44 (0) 20 7409 8826 [email protected]

Charlie Foster +44 (0) 20 7409 8883 [email protected]

Sandra Nwachukwu +44 (0) 20 7409 8074

[email protected]

Important Notice

Savills give notice that:

1. They are not authorised to make or give any representations or warranties in relation to the property either here or elsewhere, either on their own behalf or on behalf of their client or otherwise. They assume no responsibility for any statement that may be made in these

particulars. These particulars do not form part of any offer or contract and must not be relied upon as statements or representations of fact.

2. Any areas, measurements or distances are approximate. The text, photographs and plans are for guidance only and are not necessarily comprehensive. It should not be assumed that the property has all necessary planning, building regulation or other consents and Savills have

not tested any services, equipment or facilities. Purchasers must satisfy themselves by inspection or otherwise.

Designed and Produced by Savills Marketing: 020 7499 8644 | September 2017

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The courtyard 131 AURELIA ROAD - bcmre.com · M3 M25 M25 M25 M23 M20 M26 CENTRAL LONDON HEATHROW AIRPORT GATWICK AIRPORT CROYDON. The courtyard | 131 AURELIA ROAD | CROYDON | CR0