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Costa Coffee & 3 Flats, Bromley, Greater London

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Basic Facts

Status: Type: Tenure: Freehold Gross Rent: £ 113,992
Lease Term: 10 yrs from Jul' 11 VAT applicable: Yes

Property Description

  • Freehold Blue Chip Retail & Residential Investment.
  • The property is arranged on basement, ground and three upper floors to provide a ground floor shop with further customer seating in the basement, WCs and stores, and external customer seating to the side facing the south/east.
  • The 1st and 2nd floors provide three self-contained two bedroom flats which are accessed from Market Square.

Location Description

  • Bromley, with a population of some 275,000, is a popular and affluent suburb of London and is the commercial and administrative centre of the
    London Borough of Bromley, the largest of the London boroughs.
  • The town is located some 12 miles south-east of Central London, at the junction of the A21 and A222. The property benefits from its close proximity to Bromley North and Bromley South Rail Stations where there are regular services to London Victoria, with a direct journey time of approximately 20 minutes.
  • The property is prominently situated on the corner of the pedestrianised Market Square. which provides a busy thoroughfare from Primark to The Glades Shopping Centre. Occupiers close by include Primark, Barclays, Virgin Money, Lloyds, McDonald’s, Santander and Carephone Warehouse, amongst many others.

Additional Notes

  • The property benefits from planning permission dated 10th May 2018 for a rear dormer and rear rooflights and creation of a three bedroom flat within the roof space of 33A and 34 Market Square.
  • Shop let to Costa Limited for £85,000 p.a. until 2028 (no breaks), who have been in occupation since 2001. It has 1,500 branches, for the year ended 2nd March 2017, COSTA LIMITED reported a turnover of £886.366m, a pre-tax profit of £103.387m, shareholders’ funds of £628.991m and a net worth of £616.894m. (Source: Experian
  • The flats are currently let on ASTs for £8,400 p.a., £9,600 p.a. and £10,992 p.a. respectively.

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