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High street retail property for sale

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 £100,800 gross annual income
  • 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 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:
         - 8.96% NIY on the current passing rent.
         - 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.

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.

Map data ©OpenStreetMap contributors.

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