SM6 53-59 Stafford Road, Wallington

The property comprises a block of four two storey buildings occupied under two individual commercial leases and one residential long lease at the first floor only. 53 and 55 Stafford Road has the benefit of large yard areas to the rear with vehicular access from Charlotte Road and 57 and 59 Stafford Road have been extended at ground floor to create enlarged commercial accommodation. The buildings are currently income producing but are considered to have future development or investment potential and the investment is therefore considered to be highly reversionary. The block has a total frontage to Stafford Road of approximately 30m and a 10m return frontage.

53-55 Stafford Road The property is held under two coterminous leases in favour of Brandon Hire Limited to expire on 3 July 2028. The combined passing rent on both premises is £21,000 per annum exclusive. The tenant has exercised a break clause and has given notice which will terminate both leases on 3 July 2023. The tenant has vacated the premises. 57A Stafford Road This is a self-contained residential flat sold off on a long lease. The lease has been subject to an extension and has approximately 170 years unexpired. The ground rent payable is £50.00 rising from 2028. 57 & 59 Stafford Road This property is subject to two coterminous leases expiring on 24 June 2030. The leases contain break clauses in June 2025. The current combined passing rents are £32,100 and there is an outstanding review from June 2020 and a further review in June 2025. All leases are held on effectively full repairing and insuring terms. The total combined rent there is £53,150 per annum exclusive.

The property is situated fronting Stafford Road in a highly visible position with a large frontage and return frontage to Charlotte Road in Wallington in Surrey. Stafford Road is the main link road between Wallington and Croydon and is a busy bus route. The property therefore benefits from vast quantities of passing vehicular traffic which is particularly heavy during the rush-hour periods. Stafford Road contains a variety of commercial occupiers and there are a number of short term parking spaces available along Stafford Road which encourages quick stop trade to the wider area. The surrounding areas of Wallington, Purely, Croydon and Banstead are densely populated and reasonably affluent environments.