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21 Westow Street, Croydon, London, SE19

£1,125,000

£703.13 per sq ft

Business rates & charges may apply

Whozoo, London
SIZE AVAILABLE

1,600 sq ft

149 sq m

SECTOR

High street retail property for sale

Key features

  • 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

Description

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
  • Ground Floor (front): Barber shop 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.
  • Ground floor (rear): E Class unit. Let informally to a minicab office at £5,000 pcm / £60,000 p.a. The layout includes various rooms, kitchen, a shower, and a small yard. Subject to minor works and change of use, the space could convert to a one-bed flat (ERV £1,400 pcm / £16,800 p.a.). 
  • First Floor: Prior Approval (Ref: 24/03928/GPDO) granted for conversion to a one-bed flat. Works are partly complete, with Building Control sign-off still required. Buyer to complete fit-out. Currently let to the same minicab office on an informal agreement at £1,000 pcm / £12,000 p.a. ERV as a large one-bed flat: £1,500 pcm / £18,000 p.a.
  • Second Floor: A one-bed flat let at £1,400 pcm / £16,800 p.a and a vacant self-contained studio. ERV £1,000 pcm / £12,000 p.a.
Income
  • Passing Rent: £9,400 pcm / £112,800 p.a. (NIY: 10.02%).
  • ERV (fully let): £10,400 pcm / £124,800 p.a. (NIY: 11.09%).
  • ERV assuming residential use for all but the shop: £7,400 pcm / £87,600 p.a (NIY: 7.78%)
Potential
  • Potentially formalise the lease with the minicab office.
  • Convert the ground floor rear from Class E (commercial) to Class C3 (residential) under Class MA, subject to prior approval (STP).
  • Extend the first-floor terrace to create a larger two-bed flat OR configure the space similar to the second floor (studio and 1 bed flat) STP.

Energy Performance Certificates

EPC 1

Brochures

21 Westow Street, Croydon, London, SE19

Open mapStreet View

NEAREST STATIONS

Distances are straight line measurements from the centre of the postcode
  • Crystal Palace Station0.4 miles
  • Gipsy Hill Station0.4 miles
  • Anerley Station0.9 miles

About Whozoo, London

Unit 2, 2 Delacourt Road, London, SE3 8XA

Whozoo is a leading commercial and development agency, offering expert property services across the UK. With a deep understanding of the market, we help clients navigate every stage of the commercial property process, from acquisition and disposal to development and investment. Our nationwide reach ensures that businesses, developers, and investors receive tailored solutions that align with their goals and maximize their property's potential.

Notes

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Disclaimer - Property reference LON0009AC. 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 Whozoo, London. 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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