Benson & Partners says ..

Property Oracle says ..

This property listing presents a commercial building located on Lower Addiscombe Road in Croydon. The listing highlights the property’s location near several transport links, including Norwood Junction and East Croydon stations. Local schools such as Oasis Academy Shirley Park, which has a ‘Good’ Ofsted rating, are also nearby. The property comprises at least two commercial units; one of which is a supermarket and another let commercially. There is no information provided on the actual size of the property’s footprint, but there is a mention that one unit generates a rental income of £35,000 per annum and another approximately £30,000 per week in sales. The provided images showcase the exterior and interior of the supermarket, revealing the typical layout of a convenience store with various food and beverage items. The internal images also show storage rooms and a small basic kitchen area, which demonstrates a lack of high standards in terms of maintenance and upkeep. The photographs showcase the commercial units in a seemingly functional state, though not particularly well-maintained. Importantly, the property lacks a garden, which might not be an issue for buyers focused on commercial investment, but which could be a major drawback for those seeking residential features. The listed price of £2,900,000 presents a significant investment, and the overall value hinges on the profitability of the existing commercial businesses and any future development potential. Potential buyers should undertake thorough due diligence regarding the financial performance of the businesses, the state of the building, future planning permission (if any), and realistic rental income before making an informed decision. The absence of key information such as the exact square footage of the commercial units and a complete breakdown of the business’s financial statements makes it difficult to offer a definitive assessment of the property’s financial value at the asking price. A full commercial survey is strongly recommended to verify the actual condition, and to accurately calculate a true market value.

Therefore, we give this property 4 / 10. *Disclaimer: This is our option and does constitute a recommendation or financial advice. Do your own research. *

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