6 bedroom semi-detached house for sale

Southbridge Road, South Croydon, Surrey, CR0

Guide Price £875,000

Property Description

Key features

  • Unique Investment Opportunity
  • Massive development potential
  • Organised as 3 self-contained flats
  • 70' ft rear garden
  • Central location
  • 6-8 mins walk to Croydon town centre
  • 10-12 mins walk to East Croydon Station
  • Attractive period features
  • Solid tenancy history
  • Underwent complete refurbishment in 2016

Full description

Tenure: Freehold

Large plot with massive development potential. Victorian House converted into 3 individual flats, underwent complete refurbishment in 2016, new double glazing, new fitted kitchens, bathrooms, wooden flooring throughout and presented in immaculate condition. The sale presents a unique opportunity to any investor wishing to maintain an impressive rental yield whilst simultaneously realising benefit of potential development uplift. Alternatively, the property is ideal for long term rental income on existing layout with gross rental yield of 5%.


The existing layout consists of:

1. Ground Floor Flat
2 double bedrooms
Open plan kitchen / reception
Kitchen and bathroom
Gross Yearly rental income of 15,000 (rent review due: April 2018).

2. Middle Floor Flat
2 double and 1 single bedroom
1 reception
Kitchen
Bathroom
Gross yearly rental income of 16,800 (rent review due: September 2017)

3. Top Floor Flat
1 large double bedroom
1 reception
Kitchen
Bathroom
Gross yearly rental income of 12,000 (rent review due: May 2018)

GROSS RENT: 43,800 p.a.



Previous successful planning granted for the following (since expired).

1. Demolition of existing garage and replacing with a 3 bedroom house (Croydon Council planning ref: 13/02365/P).

2. Erection of single/two storey rear extension (Croydon Council planning ref: 13/01543/P).

Garage:
1. Planning application granted for 3- bed house (13/02365/P | Demolition of garage; erection of two storey three bedroom house with basement area - since expired). A new planning application is likely to receive favorable outcome based on the same consent (renewal). This represents a potential GDV of over 450,000.
,
2. Back Garden
70" ft, entrance via ground floor flat and side entrance via garage. Potential for a brand new 2 or 3-bedroom house (subject to planning) in the far end of the garden.
There exist potential erection of single/two storey rear extension (Planning permission 13/01543/P was previously granted and since expired). A new planning application is likely to receive favorable outcome.

Asking price for the entire investment: 875,000 reflecting a current rental yield of 5%.


Please call Walter on 07540 295 786 or email info@latitudecroydon.com for further information and viewing.


Listing History

Added on Rightmove:
14 February 2017

Nearest stations

  • Church Street (0.5 mi)
  • South Croydon (0.5 mi)
  • George Street (0.5 mi)
Distances are straight line measurements from centre of postcode

Nearest schools

Use the school checker

To view this property or request more details, contact:

AA Homes and Housing, Croydon

Coombe Farm Oaks Road, Croydon, CR0 5HL

020 8012 6573 Local call rate

How much will it cost me to call the number displayed on the site?

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Map & Street View

Nearest stations

  • Church Street (0.5 mi)
  • South Croydon (0.5 mi)
  • George Street (0.5 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

AA Homes and Housing, Croydon

Coombe Farm Oaks Road, Croydon, CR0 5HL

020 8012 6573 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Disclaimer - Property reference 29SouthbridgeRd1. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by AA Homes and Housing, Croydon. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.

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