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- A rare opportunity to purchase three unbroken blocks of residential accommodation, all located on the same street in South Croydon.
- The portfolio consists of 11 apartments, which are arranged as follows;
- 29 St Peter’s Road, Croydon CR0 1HN: 1 x 1 bed, 1 x 2 bed, 1 x 3 bed, NIA – 2,476 sq ft.
- 36 St Peter’s Road, Croydon CR0 1HG: 4 x 1 bedroom apartments, NIA – 2,041 sq ft.
- 73 St Peter’s Road, Croydon CR0 1HS: 1 x Studio, 3 x 1 bedroom apartments – 1,759 sq ft.
- The entire portfolio is fully let and income producing with a total rent roll of £118,026 per annum.
- The three-bedroom apartment at 29 St Peter’s Road is occupied by a regulated tenant, with the remainder let on ASTs.
- We believe there is potential to increase the rents of the apartments let on ASTs by an additional £22,174 per annum, which would make the estimated rental value £140,200 per annum.
- Guide prices are offering significant discount relative to break up value.
- We believe there is the potential to re-configure two of the apartments within the portfolio from one to two-bed apartments as well as convert the three-bedroom apartment into two one-bed apartments.
- Freehold.
