21 Westow Street, Croydon, London, SE19

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).