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Office / educational freehold investment

Croydon, United KingdomUnlock address

85%

£35.450.000

Office

#14013

Core

2 Feb 2024

Property Details

Broker

Under offer

56,189 sq.ft.

5,220 m²

Leasable area

630 £/sq.ft.

6,791 £/m²

5.20 %

1

Freehold

X

Fees

0.00 %

0.40 %

0.00 %

0.40 %

Investment Overview

Croydon is one of London’s leading business, financial and cultural centres, benefitting from excellent communication links. Grade II Listed Art Deco building which has been recently refurbished and refitted to form a new campus for London South Bank University. The specification includes raised access floors, VRF air conditioning, suspended metal grid ceilings with LED lighting, four fibre-optic links and digitally connected teaching environments throughout. 56,189 sq ft net internal area adopted for review purposes.. Let to London South Bank University, for 15 years from 5 October 2021, a £1,892,647 pa (reflecting a low £33.68 psf overall). Five yearly upward only rent reviews to the higher of either OMRV, or RPI (1%-4%).