Property photos
Freehold
£1,125,000
(£703.12/sq. ft)
Retail premises for sale
21 Westow Street, Croydon, London SE191,600 sq. ft
Local area information
Property location
Nearby amenities
- Paxton Primary School 0.2 miles
- Rockmount Primary School 0.3 miles
- Gipsy Hill 0.4 miles
- Crystal Palace 0.4 miles
These distances are calculated in a straight line. The actual route and distance may vary.
Read our area guides for Norwood New Town, Gipsy Hill and Crystal Palace to find out more about the local area.
Features and description
- Freehold
- 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.
More information
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