Croydon, CR0 1FN | Investment Property for Sale | VES-CR0-007

Opportunity to purchase an apartment in London generating £17,400 gross rent pa & gross yield of 6.3%

£275,000

Apartment

VES-CR0-007

INITIAL INVESTMENT

£83,250

Based on

deposit: £68,750

stamp duty: £12,000

mortgage fees: £1,500

conveyancing fees: £1,000

GROSS RENT

£17,400

GROSS YIELD

6.3%

ADD TO FAVOURITES

The property

TENANCY

Tenanted

TENURE

Leasehold

GROUND RENT

£350

SERVICE CHARGE

£1,900

2 bedrooms

1 bathroom

1 reception room

469

Fully Furnished

Please note this property is for cash buyers only.

Leasehold information

  • Length of lease: 999 years
  • Year lease started: 2015
  • Years left on lease: 991 years (from 2023)
  • Service charge review period: tbc
  • Ground rent review period: tbc

Property information

  • Located on the 5th floor the apartment comprises:
    • Open plan living room/kitchen
    • 2 x bedrooms
    • Bathroom
    • Both bedrooms have built-in wardrobes
  • The property was redecorated in 2022
  • An EWS1 certificate is required; the building qualifies for financial government support to carry out works; the property managers are actively addressing the necessary steps to obtain the required EWS1 certificate
  • EPC rating D
  • Council tax band D
  • Monthly rental income £1,450

Location information

  • The property is located in the centre of Croydon
  • All local amenities are just a short walk away
  • East Croydon railway station is 0.5 miles away
  • West Croydon station is also 0.5 miles away
  • Easy access to the A232

Floorplans

Documents available on request, please contact for viewings or further questions.

The information relating to this property is supplied by the vendor and was the latest available information at the time of listing. Certain information may expire or become inaccurate over time.

Vesta makes no warranty as to the accuracy or completeness of the property listing or any associated information. All information should be reviewed by the purchaser and their solicitor.

About Croydon, SE London

Croydon is a large town and borough in the south of London, situated 9.5 miles south of Charing Cross.

This area is serviced by East Croydon Station which is one of the busiest non-terminal stations in London and is managed by Southern. This station offers fantastic transport routes to destinations in Sussex, Surrey and onwards to Brighton, as well as many fast train services in to the City of London and other suburban London destinations. Frequent services are run by Thameslink from Brighton via London Bridge and St Pancras International to Bedford on the London – Gatwick Airport – Brighton Line. Southern runs 10 trains per hour (tph) to London Victoria and 6 tph to London Bridge as well as several services southbound to areas in Sussex. This station also has a Tramlink service that provides routes to destinations within this southern suburban area of greater London.

Croydon is one of the largest commercial districts outside Central London, with an extensive shopping district. This has led it to become considered to be the third main central business district in Greater London. The Whitgift Centre and Centrale shopping centre are the backbone of the shopping strip with plans for a new £1bn Westfield to be built to replace it in the near future. Along the main high street and within the shopping centre one could find a wide selection of stores and boutiques including many well-known household names. This area is also plentiful in restaurants and bars and with the opening of Boxpark in recent years has added to the process of gentrification and breathing new life in to the area.

In the City of London and surrounding areas there are thousands of job opportunities and there are numerous adequate travel options to get you there.

Scarbrook Road,

Croydon,

Greater London,

England,

CR0 1FN

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Important Note

All information contained in this website is provided as a guideline only, is based on estimates and assumptions, may not be accurate or complete, and is subject to change. We make no representations or warranties with regards to this information, expressed or otherwise. A buyer who relies on such information does so at their own risk. Buyers are advised to seek independent financial advice and should undertake their own due diligence.

Your capital is at risk. Property values may decline and the property might not be able to be rented at amounts sufficient to cover debt interest costs, operating expenses and liabilities, and might not result in a positive cash flow. Property is an illiquid asset and should not be viewed as a short-term investment.

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