£1,300,000
(£812.50/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 £112,800 gross annual income
Residential units with strong rental potential and scope to reconfigure
Just moments from Crystal Palace Station and Westow Park
Excellent opportunity for investors seeking income and capital growth
A freehold mixed-use property in the heart of Crystal Palace’s sought-after Triangle, generating a gross annual income of £112,800. Ideally located just moments from Westow Park and Crystal Palace Station (Overground and National Rail).
Property Overview
Basement: Let to a minicab office on an informal agreement at £5,000 pcm/£60,000 p.a. Layout includes a lounge, small yard, two single bedrooms, and shower.
Ground Floor: Let to a barber on a 15-year lease (from Oct 2023) with no breaks and 4-yearly rent reviews. Current rent: £2,000 pcm/£24,000 p.a.
First floor: Currently informally let to a minicab office at £1,000 pcm (£12,000 p.a.). The space comprises four temporary bedrooms, two shower rooms, and access to a terrace.
Second floor: Self-contained studio with en-suite. Vacant. Erv - £1,100 pcm (£13,200 p.a.) and one-bedroom flat (kitchen, shower room) let at £1,400 pcm (£16,800 p.a.).
Total Passing rent: £9,400 pcm/£112,800 p.a. (giy: 8.68%).
Erv fully let: £10,500 pcm/£126,000 p.a. (giy: 9.69%).
Potential: Reconfigure the first floor to create a studio and one-bedroom flat, replicating the second-floor layout (erv: £2,500 pcm / £30,000 p.a.), with scope to extend into the terrace (subject to consents).
Property Overview
Basement: Let to a minicab office on an informal agreement at £5,000 pcm/£60,000 p.a. Layout includes a lounge, small yard, two single bedrooms, and shower.
Ground Floor: Let to a barber on a 15-year lease (from Oct 2023) with no breaks and 4-yearly rent reviews. Current rent: £2,000 pcm/£24,000 p.a.
First floor: Currently informally let to a minicab office at £1,000 pcm (£12,000 p.a.). The space comprises four temporary bedrooms, two shower rooms, and access to a terrace.
Second floor: Self-contained studio with en-suite. Vacant. Erv - £1,100 pcm (£13,200 p.a.) and one-bedroom flat (kitchen, shower room) let at £1,400 pcm (£16,800 p.a.).
Total Passing rent: £9,400 pcm/£112,800 p.a. (giy: 8.68%).
Erv fully let: £10,500 pcm/£126,000 p.a. (giy: 9.69%).
Potential: Reconfigure the first floor to create a studio and one-bedroom flat, replicating the second-floor layout (erv: £2,500 pcm / £30,000 p.a.), with scope to extend into the terrace (subject to consents).
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