Investment Consideration:
VAT is NOT applicable to this property
SPV can be purchased to minimize stamp duty
Comprises vacant plot of land c. 0.65 acres
Planning approved in July 2022 for the erection of part four/five storey building comprising 7 apartments and erection of four storey building comprising 2 town houses
Total approved GIA: 724 sq m (7,796 sq ft)
Each apartment would benefit from private balcony/terrace and communal roof terrace
Each town house would benefit from private terrace and balcony, as well as garage
Lidl and Tesco Express are situated opposite the property, while retail occupiers at Crown Point retail parade include barbers, pharmacy, post office and restaurants, providing great convenience for future residents.
Property Description:
Comprises plot of land situated to the rear of a mixed-use block (Crown Point) and accessed via shared private driveway with gated entrance. The plot has a total size of c 0.65 acres including shared driveway.
Development Opportunity:
Planning approved in July 2022 for the erection of part four/five storey building comprising seven apartments and erection of four storey building comprising two town houses as well as provision of associated off street parking spaces, cycle and refuse storage.
For more information, please refer to Croydon Planning Portal with Planning Reference: 20/02305/FUL
Development Opportunity:
The block of 7 apartments (5 x 2-Bed and 2 x 1-Bed) would benefit from communal lift between all floors and communal roof terrace. Each apartment would also benefit from private balcony/terrace, providing the following accommodation and dimensions:
Lower Ground Floor:
Apartment 1 - 61.86 sq m (666 sq ft)
2 bedrooms, kitchen/living room, bathroom, utility room
Ground Floor:
Apartment 2 - 67.69 sq m (729 sq ft)
2 bedrooms, kitchen/living room, bathroom, utility room
First Floor:
Apartment 3 - 67.44 sq m (726 sq ft)
2 bedrooms, kitchen/living room, bathroom, utility room
Apartment 4 - 50.80 sq m (547 sq ft)
1 bedroom, kitchen/living room, bathroom, storage
Second Floor:
Apartment 5 - 71.70 sq m (772 sq ft)
2 bedrooms, kitchen/living room, bathroom, utility room
Apartment 6 - 53.00 sq m (570 sq ft)
1 bedroom, kitchen/living room, bathroom, storage
Third Floor:
Apartment 7 - 71.74 sq m (772 sq ft)
2 bedrooms, kitchen/living room, bathroom, utility room
Development Opportunity:
The 2 x four storey semi-detached houses (4-bed each) would benefit from private terraces and garages, providing the following accommodation and dimensions:
House 1: 140 sq m (1,507 sq ft)
Lower Ground Floor: Garage, storage, utility
Ground Floor: Kitchen, living/dining room, wc, terrace
First Floor: 2 bedrooms, 1 bathroom
Second Floor: 2 bedrooms (1 en-suite), balcony
House 2: 140 sq m (1,507 sq ft)
Lower Ground Floor: Garage, storage, utility
Ground Floor: Kitchen, living/dining room, wc, terrace
First Floor: 2 bedrooms, 1 bathroom
Second Floor: 2 bedrooms (1 en-suite), balcony
Total Apartments GIA: 444 sq m (4,782 sq ft)
Total Houses GIA: 280 sq m (3,014 sq ft)
Total Development GIA: 724 sq m (7,796 sq ft)
Location:
Norwood New Town forms part of the larger district of Upper Norwood. It lies between West Norwood and Upper Norwood (to the north and south respectively) and with Norwood/Crystal Palace to the east and Streatham west. It is approximately six miles south of Charing Cross station. The property is situated to the rear of Crown Point, which occupies prominent location on the junction between A215 Beulah Hill and A214 Crown Dale. Lidl and Tesco Express are situated opposite the property, while retail occupiers at Crown Point retail parade include barbers, pharmacy, post office and restaurants, providing great convenience for future residents.
