Summary - High Street, Purley, CR8 CR8 2AA
1 bed 1 bath Not Specified
Ready-to-trade unit with strong footfall and immediate planning commencement.
Heart of Purley, 0.1 miles from train station
A compact high-street retail unit in the heart of Purley, positioned 0.1 miles from Purley station with fast links to London Bridge and Victoria. The ground-floor frontage, large display windows and 1,075 sq ft of internal space suit a convenience store, takeaway or small food operation; services are modern and broadband and mobile connectivity are strong.
This lot is offered at auction with a 10-year lease starting 29/11/2024 (approximately nine years remaining). Current terms state an annual rent of £15,500 and a ground rent figure listed at £15,500. Pre-commencement planning conditions have been discharged so works can begin quickly; however the purchaser must carry out specified works to the adjoining property’s front garden and driveway under the original option agreement.
Important buyer warnings: the short lease term (circa nine years remaining) is likely to prevent many mortgage lenders from lending. The lot carries additional up-front and transactional costs: CIL of £42,787.27, a buyer information pack fee (£349), and a non-refundable auction reservation fee of 4.5% of the purchase price (minimum £6,600). These costs can materially affect total acquisition outlay and should be factored into any bid.
This is best suited to a cash buyer or an investor familiar with short-lease commercial deals who can accept the tenancy profile and immediate obligations. The property’s central location and ready-to-trade condition present clear income potential, but the lease length, heavy ongoing site cost figures and local crime level are significant constraints that reduce mainstream mortgageability and may limit operator options.
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