Block of six South Croydon flats up for £1.25 million

This residential development, situated on St. Peters Street, comprises two purpose-built blocks and is being marketed as a prime investment opportunity by Paul O’Shea Homes.

The front block houses four one-bedroom flats, while the rear block contains two one-bedroom flats, each complete with parking spaces.

Rear and front blocks combine for six high-performing one-bed flats (Image: Paul O’Shea Homes) The estate agent also highlights the granted planning permission to extend Flats 1 and 2 by 1.8 metres, presenting a further development opportunity for potential buyers.

Current income details reveal the following annual returns: Flat 1 generates £10,500 with a long-term tenant, Flat 2 stands vacant but is expected to fetch £15,600 in market rent, Flat 3 brings in £11,700, Flat 4 earns £13,800 since June 2023, and Flats 5 and 6 both yield £13,800.

Each one-bed flat offers a bright open-plan living area ideal for modern tenants (Image: Paul O’Shea Homes) The total estimated market value of the flats is pegged at £1,465,000.

Flat 1 is valued at £240,000, with an Energy Performance Certificate (EPC) stating 34 sqm, Flat 2 is also priced at £240,000 with an EPC of 35 sqm, Flat 3 matches this at £240,000 with an EPC of 34 sqm, Flat 4 comes in at £245,000 with an EPC of 39 sqm, Flat 5 is valued at £245,000 with an EPC of 37 sqm, and Flat 6 is the highest at £255,000 with an EPC of 49 sqm.

All flats carry a current 10-year Building Warranty, with those for Flats 1 and 2 expiring on November 24, 2024, and for Flats 3 to 6 expiring on October 30, 2025.

Spacious double bedrooms provide ample natural light and practical storage options (Image: Paul O’Shea Homes) The flats also have an Energy Performance Certificate of C.

The listing indicates that the current owner has enjoyed nine years of consistent, high-yield income from these flats, which are all under Assured Shorthold Tenancy (AST) agreements.

The agent also notes that this development represents a long-term investment, with potential for rental growth and capital appreciation.

Contemporary bathrooms feature clean tiling, modern fittings, and efficient layouts (Image: Paul O’Shea Homes)

The location of the flats is also worth noting.

South Croydon station is just 0.1 miles away, while Sanderstead, East Croydon, and Purley Oaks stations are all within a mile’s radius.

The area also boasts a number of schools, including Elmhurst School Ltd, Harris Primary Academy Haling Park, Heathfield Academy, and St Peter’s Primary School, all within a 0.3-mile radius.

The estate agent has advised interested parties to contact them for more details on this off-market transaction.