74-80 North End | Cr0 1Uj
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CROYDON 74-80 NORTH END | CR0 1UJ PROMINENT, GREATER LONDON RETAIL AND OFFICE INVESTMENT WITH SIGNIFICANT ASSET MANAGEMENT POTENTIAL CROYDON 74-80 NORTH END | CR0 1UJ INVESTMENT SUMMARY ■ Croydon is one of London’s largest boroughs, with a large catchment population and growing economy. ■ An established and busy commercial centre with a flourishing retail offer encompassing an extensive array of mass market retailers including M&S, Zara, H&M, Topshop/Topman, River Island, Sainsbury’s and WH Smith. ■ Occupying a 100% prime retailing location on the pedestrianised North End between the main entrances of the Centrale and Whitgift Shopping Centres. ■ Weighted average unexpired lease term (WAULT) to expiry of 2.32 years (2.26 to break). ■ Gross income of £564,800 per annum exclusive. ■ Future Asset Management Opportunities and Significant Development Potential (STPP). ■ Offers in excess of£10,250,000 (Ten Million, Two Hundred and Fifty Thousand Pounds), Subject to Contract and exclusive of VAT for the freehold interest reflecting a net initial yield of 5.15% allowing for graduated purchasers costs of 6.7%. Well-connected business hub – 15 minutes to Central London and Gatwick Airport PROMINENT, GREATER LONDON RETAIL AND OFFICE INVESTMENT WITH SIGNIFICANT ASSET MANAGEMENT POTENTIAL 9 A43 12 A5 A120 8 Braintree Colchester Luton Stevenage 7 STANSTED Bicester Dunstable 11 A602 8 A41 LUTON Bishop's A120 9 10 A1(M) A10 Stortford A130 A131 9 6 Hertford Aylesbury Ware Witham A12 M40 Tring 5 M11 CROYDON M1 St 4 A41 Harlow 74-80 NORTH END | CR0 1UJ 8 Albans Hatfield Maldon A413 3 Chelmsford A40 7 Berkhamsted 7 1 2 8 A418 A414 7 A4010 22 Amersham 20 24 M25 25 26 A12 A130 19 5 High LOCATION 6 18 Enfield 5 5 Wycombe 17 4 Brentwood Watford A10 M11 28 Rayleigh is a densely M40 A12 The London Borough of Croydon 4 2 A127 3 M25 M1 A406 4 2 Harrow 29 A127 Basildon populated suburb situated approximately 10 miles 1 A41 Marlow 1 A40 Uxbridge M25 A13 Henley- A406 Southend-on-Sea (16km) to the south of Central London. It is the Slough A13 on-Thames 30 7 6 LONDON southernmost borough of London and the second 4 3 2 1 Woolwich 31 A4 Richmond Gravesend Reading 14 Sheerness largest borough by population. M4 A329(M) HEATHROW A205 13 A20 A2 2 12 10 H Staines A2 Rochester A 1 A2 CROYDON N 1 1 11 3 D Croydon benefits from excellent road communications D S T R 2 Gillingham C JA A M M R ES Chatham A O 11 A232’S 2 M20 located within 8 miles (13km) of Junction 7 of the M25 R H Sittingbourne F D 4 3 4 N T 3 3 5 E M25 R P Epsom Camberley D D 2 motorway. Various “A” roads such as the A23 and A22 4 A249 Y 7 U 10 3 M2 6 A33 4 Woking 9 D 5 6 S A339 D A23 M26 A2 R D A24 R 7 9 R D 5 R E R L R A232 connect Croydon with the M25 which links with Leatherhead ST 7 Y Maidstone Basingstoke M3 R D 8 E E IN A228 A3 M L M25 E S N R E T Y J 5 E 8 6 I L AM M DD F A21 the M23, M26 and the M20. 6 U I K S ES’ W K AldershotS A A26 S 3 Guildford Reigate E RD 1 O M20 A28 L A Tonbridge 7 A2 L Y A22 Farnham A31 A229 A24 8 M23 E Croydon is well connected to the rail network AMPERE WAY Godalming 9 D W R East Ashford 10 9 2 GATWICK K serving London and the south coast via two main Grinstead 1 C A264 Tunbridge WellD s Alton D 2 10 O R R A21 T A S M Crawley A2070 railway stations, East Croydon and West Croydon, D I M3 L A V E A264 I H A31 A N Haslemere 11F T A3 K E both within walking distance of the subject property. A26 A22 HorshamA D O Y S TFL state that passenger numbers rose from L O P A N 14 million in 2000 to 27 million in 2015/16. R RK S D WEST PA O CROYDON D N O OR ’ D F S N D R E M B E The Croydon tram link also offers shoppers living in A R N D D D O I A T LK A A O neighbouring conurbations fast access to the town T W R D S R R A E RBY PL 35 DE N A2 PO centre. The 17 mile (28km) track links central Croydon A W 2 O A D D R 1 S 2 2 N N D A with Wimbledon to the northwest, Beckenham WADDON MARSH L 3 O R D D W N IN R P E K N R S H E junction, Birkbeck and Elmers End to the east and U A U O L T L R R C R R L T O H WHITGIFT E L New Addington to the south east. W S E E SHOPPING Grade A office M N L Y CENTRE D A D E T I N W Y CENTRALE G CENTRALE R W The two largest international airports in the UK are A A SHOPPING SUBJECT space available D A Y 2 CENTRE PROPERTY L 3 L D easily accessible from Croydon. London Gatwick WELLESLEY R 6 R EAST H D REEVES CROYDON R T RAIL at one third the cost C CORNER R N O A O D Airport is located approximately 18 miles (29km) to the R O I EAST R W R M D O M N T CROYDON O H A N A T M F South and London Heathrow Airport is located E T WANDLE PARK M EN S N R E of Central London W U RG R IT GEO R D H D W D R A approximately 25 miles (40km) to the North West. D A 2 Y T 1 S GE 2 C CHURCH ST EOR GEORGE ST H G U C ET P R H E A WANDLE PARK C UR T STR H CH S RK PA R R D S D R U K R E ST GEORGES R C L E WALK A Y SHOPPING A L A S CENTRE N P T T A R E D INE ST E E E KATHAR 2 L E R O T 3 T F S D E D R P L H L IRFIE U L A G F I 2 O ALK 23 W MINT RO A R H C L H L A D U E D R Y T RAMNER ROAD C O C H W W R ER O OV A FLY N A YDON Y RO D E C TH SALEM A PL A 2 C A E 1 2 2 3 P 5 PROMINENT, GREATER LONDON RETAILA AND OFFICE INVESTMENT WITH SIGNIFICANT ASSET MANAGEMENT POTENTIAL HI R K G H L A R S E N V T LL RD O E UPPAS HI A232 LY D N F THE CROYDO A 212 LO WER C CROYDON RD D OOM R BE S M A ST T O A A 2 S A 3 2 2 P P 12 2 6 CO E 3 O 3 E M S 5 B O T E P E R U U D T R R H ’ S L B E R R Y ID D W G E D A R R EN Y E D RD ABE CROYDON 74-80 NORTH END | CR0 1UJ East Croydon Station Pinnacle Apartments Croydon College North End George Street Whitgift Shopping Centre SUBJECT PROPERTY West Croydon Station Centrale Shopping Centre PROMINENT, GREATER LONDON RETAIL AND OFFICE INVESTMENT WITH SIGNIFICANT ASSET MANAGEMENT POTENTIAL CROYDON 74-80 NORTH END | CR0 1UJ DEMOGRAPHICS The total population within the Croydon primary catchment area is 866,000, above the regional centre average, ranking the centre 14th of the 200 comparable PROMIS centres. The potential catchment population however extends to around 2 million people. This is the anticipated catchment uplift the area might experience because of the future re-generation in the area. Croydon is projected to see significantly above average population growth over the period 2016-2020. In a paper produced by Croydon Council they earmark it as a ‘growth borough’ forecasting this as the main driver for growth in South London in the period to 2031. The estimated shopping population is 448,000, which is above the average for the Sub Regional Centres. The population is youthful; there is a particularly high proportion of adults aged 25-44 and children aged 0-14 are also over-represented. In contrast, older working age adults aged 45-64 and the retired aged 65 and over are notably under-represented. ECONOMY Croydon has a strong history as a commercial location. Around 60% of Croydon’s GDP is made up by the service sector with thousands of government workers having been based in the 866,000 1,100,000 448,000 town for several years now. Within the finance sector,Barclays Financial and Insurance IN PRIMARY ECONOMICALLY ESTIMATED Services, Allianz and AIG have major offices while other notable employers includeArcadis , CATCHMENT ACTIVE WITHIN SHOPPING The Body Shop, WH Smith, EDF Energy and Superdrug who all have headquarters here. AREA 30 MINS POPULATION Extensive efforts by the local council, along with Government backing, have helped raise Croydon’s profile as a growth area for the future.