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Prime retail and residential block

Croydon, United KingdomUnlock address

82%

£11.500.000

Mixed use

#14231

Core+, Value-Add

28 Feb 2024

Property Details

Broker

For sale

30,917 sq.ft.

2,872 m²

Leasable area

371 £/sq.ft.

4,004 £/m²

8.67 %

10

Freehold

X

Fees

0.00 %

1.00 %

0.60 %

0.40 %

Investment Overview

The subject block occupies a prime trading location. The property comprises an unbroken parade of six retail units, and 3 residential units, extending to 30,917 sq f. Predominantly arranged on basement, ground and two upper floors, some extended to third floor. Freehold held in 8 separate titles. The property is let to 10 tenants, producing a current rent passing of £1,003,160 pa. The WAULT to expiry is 5.7 years with 3.7 years to break. The property offers immediate asset management initiatives and potential to carry out further residential conversion/ extension of the ancillary upper parts, subject to planning and vacant possession. The property is not listed but sits within the Central Croydon Conservation Area.