David Pitt House, Norwood High Street, London SE27 9NR

A freehold building comprising 18 apartments with planning permission to create an additional floor

Key Information

Location

Norwood, London SE27

Planning Status

Consented

Price

£4,300,000

Description

Investment Opportunity

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Overview

David Pitt House is a four-storey, including a lower-ground floor, residential building, comprising a mix of 18 apartments with a total net internal area, excluding common parts of approximately 6,246 square feet / 580.3 square metres.

All apartments within the building are let on AST’s (assured shorthold tenancies) producing a gross annual income of approximately £212,040.

The building also benefits from detailed planning consent to implement a roof extension, which would enlarge two existing top-floor apartments into 2 & 3-bedroom duplexes.

The building is in good condition throughout, and the office to residential conversion was completed in 2017, through permitted development rights.

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Investment Summary

  • A four-storey freehold building including a lower-ground floor, currently arranged as 18 apartments comprising 15 x studio & 3 x 1-bedroom apartments
  • The Building is producing a gross income of approx. £212,040 per annum / £17,670 per month
  • Planning permission for a roof extension, to enlarge units 15, 16, 17 & 18 into duplexes
  • NIA Approx: 6,246 square feet / 580.3 square metres, excluding common parts
  • The building is to be sold with the benefit of existing tenants
  • Located just 0.1 Miles from West Norwood Station, with trains travelling into Central London in under 20 minutes

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