Investment Consideration:
Ground Rent Income: £5,000 p.a.
VAT is NOT applicable to this property
SPV can be purchased to minimize stamp duty
Comprises mixed-use retail & residential block (all units sold-off), with benefit of air rights
Pre-app submitted for roof extension to create 2 additional floors with 23 apartments in total
Includes vacant plot of land at rear (0.65 acres), with planning approved in July 2022 for erection of part four/five storey building comprising 7 apartments and erection of four storey building comprising 2 town houses
Total approved GIA at Rear Land: 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.
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 Potential: Roof Extension
Pre-app submitted for roof extension of Crown Point to create 2 additional floors including 23 apartments (9 x 1-Bed, 5 x 2-Bed and 9 x 3-Bed).
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.
