Block of flats for sale in Sydenham Road, Croydon CR0

Investment / development opportunity

Dexters are delighted to offer for sale a turnkey investment opportunity featuring a total of 11 apartments (9nos. One-bedroom apartments, 1nos. Two-bedroom apartments and 1nos. 2-bedroom duplex apartment) held within a single freehold title.

Sydenham Road is a popular residential road that runs between St James's Road and Northcote Road and is a walking distance to Selhurst train station and East Croydon train station with direct trains to Central London (London Victoria, London Blackfriars and London Bridge) and local bus routes and rail tram system.

The original building features four storeys and contains eight apartments (7nos. One-bedroom apartments and 1nos. Two-bedroom apartment).

The building has been extended as detailed within Planning Application Reference: 16/03651/P creating three new apartments (2nos. One-bedroom apartments and 1nos. Two-bedroom duplex apartment).

The property further benefits from off-street parking for circa 5 cars to the front and private and communal gardens to the rear of the building.

All apartments are currently let on Assured Short Hold Tenancy Agreements with a gross annual income of £141,039.96 (One Hundred and Forty-One Thousand, Thirty-Nine Pounds and Ninety-Six Pence) which represents an annual yield of 5.2% at the asking price.

Part Of Freehold title (hm Land Registry Title Number SY49596) as shown cross-hatched in Blue on the Promap Map 01.

In addition, the land located to the rear of 256 Sydenham Road, Croydon, CR0 2EB (see crossed-hatched in Red on Promap 02) is available to purchase. The land is circa 162 m² (1,740 ft²) and is currently occupied by a large wooden shed. The land has redevelopment potential subject to securing the necessary planning permissions.

Guide Price: To be confirmed