Mixed-Use Unbroken Freehold Parade Of Six Buildings

Strategically located in the heart of Croydon’s High Street, approximately 0.5 miles (a 10-minute walk) from both East Croydon and West Croydon train stations, the property benefits from significant footfall and strong demand across both residential and commercial uses.

In aggregate, the accommodation provides c. 7,600 sqft of retail accomodation, c. 3,900 sqft of self-contained residential upper parts, c. 3,600 sqft of self-contained commercial upper parts, and rear land with outbuildings of a further c. 2,500 sqft – equating to a total building size of c. 17,600 sqft.

At the point of sale, the property was generating a low passing rent of £176,750 per annum in total, with the office accommodation vacant, and several other units let below market rental levels. The estimated rental value is approximately £315,000 per annum, presenting a clear opportunity for asset management-led income growth.

In addition to the existing buildings, the property benefits from implemented planning consent for the construction of a new third floor and the conversion of part-first and second floor offices to provide a further 8 self-contained residential units.

The site also offers comprehensive longer-term re-development potential. A previous planning application (refused October 2021) proposed demolition and re-development, to deliver a 29-storey scheme comprising 121 self-contained residential units together with flexible commercial floorspace at ground, mezzanine, first and second floor levels.

Elem Real Estate acted as sole agents on behalf of the vendor, a private property company, in the disposal of the unbroken freehold asset. The sale price remains undisclosed. The transaction was concluded off market.