A substantial, 3 storey semi detached house with 6 bedrooms and 3 reception rooms. Planning consent for conversion to 1 x 3 bedroom and 2 x 1 bedroom apartments with potential to reconfigure. Currently a licensed HMO, part let producing £29,400 pa. Great potential for development and to increase the rental income.

Description/Location

This large semi detached dwelling is situated in an established residential location, Norwood Junction 0.4 miles. Currently, 5 rooms are let on ASTs (all in periodic status) producing a combined £29,400 pa, there is good potential to upgrade the accommodation. The HMO license was granted for 9 persons / 7 rooms + 1 self contained unit on 07/05/2020, we estimate that a refurbishment of the accommodation could produce rent of £65,000 - £70,000 pa. Planning was granted by Croydon Borough Council on 08/10/2021 for conversion to 3 self contained apartments of 86 sqm (3 bed), 57 sqm (1 bed) and 51 sqm (1 bed). We believe the first floor 1 bed apartment could easily be reconfigured to create a 2 bedroom layout.

Tenure

Freehold

Viewing

Network Auctions - 020 7871 0420

Accommodation

Ground Floor: Entrance hall, 2 rooms, self contained studio flat. First Floor: Landing, 3 rooms, shower room and wc. Second Floor: Landing, 3 rooms, shower room. Outside: Gardens front and rear.

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