Cambrian Court & Benhill Court

For Sale – Freehold Investment to include 12 Garages:
Benhill Court, Westmead Road, Sutton SM1 4HX
Cambrian Court, South Park Hill Road, South Croydon, CR2 7DY

Allen Heritage are delighted to offer this attractive South London freehold ground rent and garage investment.

The opportunity comprises the freehold reversions of 14 long-leasehold flats together with 12 garages let on monthly licences across two well-located residential blocks in Sutton and South Croydon.

The flats are all held on long leases with between 130–148 years unexpired. Current ground rent income stands at £1,435 per annum from 10 flats, with these leases containing doubling provisions every 25 years, rising to between £2,400 and £8,000 each by the latter part of their terms. Ground rent is not payable on the remaining 4 flats (Peppercorn leases).

The garages provide a strong and consistent income stream of £17,280 per annum, with rents that have not been increased for over two years. With current passing rents at £120–125 per month, we believe an increase to £130 per month is readily achievable, which would lift garage income to £18,720 per annum.

In total, the investment produces £18,715 per annum, reflecting a gross yield of 5.7%. Allowing for the reversionary garage uplift, income would rise to £20,155 per annum, equating to a 6.1% yield.

This is a rare opportunity to acquire a secure, income-producing freehold with both immediate and long-term growth prospects, underpinned by highly sought-after South London locations.