£1,125,000
(£703.12/sq. ft)
Retail premises for sale21 Westow Street, Croydon, London SE19
1,600 sq. ft
Freehold
About this property
Prime freehold mixed-use investment in Crystal Palace Triangle
Generating £100,800 gross annual income
Just moments from Crystal Palace Station and Westow Park
Excellent opportunity for investors seeking income and capital growth
A freehold mixed-use investment in the heart of Crystal Palace’s sought-after Triangle, producing a strong income with future development and asset management potential. The property is ideally located just moments from Westow Park and Crystal Palace Station (Overground & National Rail).
Property Overview
Income Profile
- 7.47% niy on reversionary erv.
Asset Management & Potential
Property Overview
- Ground Floor (front): Barber shop on a 15-year lease from October 2023, with no breaks and 4-yearly rent reviews. Current rent £2,000 pcm / £24,000 pa.
- Ground Floor (rear): E Class accommodation currently occupied by a minicab operator at a rent of £48,000 pa. The accommodation is arranged as a series of rooms, kitchen and small yard. Market erv is estimated at approx. £12,000 pa.
- First Floor: One-bedroom flat. Currently occupied by the same operator at £12,000 pa. Residential erv is estimated at approximately £19,200 pa
- Second Floor: One-bedroom flat let at £16,800 pa together with a vacant self-contained studio with an erv of £12,000 pa.
Income Profile
- The property produces a passing rent of £100,800 pa.
- The current income profile is above underlying stabilised residential market levels, with reversionary erv estimated at approximately £84,000 pa.
- Based on a purchase price of £1,125,000, this reflects:
- 7.47% niy on reversionary erv.
Asset Management & Potential
- Potential to re-let the rear ground floor E Class unit and first floor residential accommodation at estimated market levels.
- Opportunity to bring the vacant second floor studio into income-producing use.
- Potential to convert the rear ground floor E Class accommodation to residential use, subject to planning.
Mortgage calculator
Monthly repayment
£5,627 per month
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