The Old Forge, 33 St Peters Street

Property Details: • Type: Block of Apartments • Tenure: N/A • Floor Area: N/A

Key Features: • - Two purpose-built blocks with **6 x 1-bedroom flats** and parking spaces. • - Front block: **4 flats**, rear block: **2 flats**. • - **Planning permission granted** to extend Flats 1 and 2 by **1.8m**. • - Current annual income: **£79,000** with potential to increase to **£90,000**. • - All flats are under **AST agreements**. • - Estimated total market value: **£1,465,000**. • - Long-term investment with **rental growth** and capital appreciation potential.

Location: • Nearest Station: N/A • Distance to Station: N/A

Agent Information: • Address: Airport House Purley Way, Croydon, CR0 0XZ

Full Description: Investment Opportunity - £1,372,000 for the Freehold Interest

We are pleased to present this well-maintained residential development consisting of two purpose-built blocks, offering a prime investment opportunity.

The front block contains 4 x 1-bedroom flats, while the rear block includes 2 x 1-bedroom flats, each with parking spaces. There is also planning permission granted to extend Flats 1 and 2 (rear block) by 1.8m, providing an opportunity for further development should the buyer wish to do so.

The current owner has enjoyed 9 years of consistent, high-yield income, with all flats under AST agreements, producing a strong rental return of £79,000 per annum, with the potential to increase this to £90,000 per annum.

Current Income and Tenancy Details: Flat 1 – £10,500 PA – long-term tenant (market rent: £15,600) Flat 2 – £15,600 PA – tenancy ends January 2025 Flat 3 – £11,700 PA – under-let Flat 4 – £13,800 PA – market rent (since June 2023) Flat 5 – £13,800 PA – under-let Flat 6 – £13,800 PA – under-let

Estimated Market Value (per unit): Flat 1 – £240,000 - EPC states 34 sqm Flat 2 – £240,000 - EPC states 35 sqm Flat 3 – £240,000 - EPC states 34 sqm Flat 4 – £245,000 - EPC states 39 sqm Flat 5 – £245,000 - EPC states 37 sqm Flat 6 – £255,000 - EPC states 49sqm

All flats have a current BLP 10 year Building Warranty: Flats 1-2 expire on the 24th November 2024 Flats 3-6 expire on the 30th October 2025

All Flats have an EPC of C

Total estimated market value: £1,465,000 Asking price for the entire freehold: £1,400,000

This development presents a unique opportunity for investors seeking a reliable income stream with potential for rental growth and long-term capital appreciation. Contact us for more details on this off-market transaction.