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- An opportunity to purchase two neighbouring Victorian buildings on an attractive residential street in the heart of South Croydon.
- Located 0.4 miles from South Croydon Station offering direct access into London Victoria within 20 minutes.
- The two properties comprise a total of 10 x 1 bedroom apartments of which nine are let on ASTs and one is vacant.
- In addition, there is a large gated car park to the rear of the buildings which may be suitable for redevelopment (subject to the necessary consents).
- We also believe there is the potential (subject to the necessary consents) to carry out side and rear extensions to ground floor in line with neighbouring precedent.
- There are currently four apartments on the ground floor of which only two have gardens, we believe there is the potential to sub-divide the gardens to create four garden flats.
- The current rent roll totals £105,000 per annum, the vacant flat has an estimated rental value of £950 pcm, once let the total income of the building will increase to £116,400 per annum.
- The apartments comprise an Net Internal Area of 5,216 sq ft, each flat benefits from its own parking space.
- It is our opinion that the break up value is in the region of £2,700,000.
- Offers In Excess Of £2,175,000 (Two Million, One Hundred and Seventy Five Thousand Pounds), reflecting a low capital value of £416 psf and 5.35% Gross Yield based off the fully let rental value.
