- Huge Investment Potential
- Potential To Create 9 Units
- Large Rear Garden
- Near East Croydon Station
Full Description
HMO or Hotel or Development!!!! The choice is yours! Benson and Partners are delighted to offer for sale this superb development site (STPP), with potential to convert to 9 units. Cost to convert would be surprisingly lower than most would anticipate! Come see for yourself as the layouts are there!
DEVELOPMENT POTENTIAL Potentially a developer could do the following with the existing building, keeping the total units below afordable to 9 which would be subject to planning consents :-
4 x 1 bed flats @ £250,000 each, bathrooms already in each unit!
1 x 1 bed with private entrance
2 x 1 bed self contained own private entrance newly built with gardens! £250,000 plus!
1x 2 bed flat @ £300,000
1x 3 bed split level @ £350,000
Total £2,400,000 plus.
DESCRIPTION The Croydon Hotel is a bed and breakfast which has been family run for over 20 years and is now for sale due to retirement of the owner. Currently only seven of the bedrooms are being let whilst the remainder is used for staff private accommodation. The building has had upper and lower floor extensions and consists of a total of 12 bedrooms (7 bedrooms, 5 nearing completion), plus also staffing quarters etc….
We are of the opinion that the building could lend itself to conversion to flats (STTPC). There may also be an option to put another floor on the building as the property next door is set back and is a church not residential. Plus neighbouring properties are three storey buildings! Any prospective purchaser would have to investigate for themselves of the possibility.
LAYOUT Ground Floor
Ground floor currently let accommodation:
* Twin room with en suite shower room
* Double en suite room
* Family room en suite
Also on the ground floor are a breakfast room with seating for 10, a kitchen, an office/reception, a laundry room with access to a separate kitchen which is part of the staff accommodation.
The staff accommodation contains a double en-suite bedroom and a spacious lounge. The staff bedroom has planning permission granted to convert into an additional letting room.
The ground floor has been extended to the rear nearly finished but not completed where there are three bedrooms that are configured as follows:
* Twin room (en suite)
* Double room (en suite)
* Family room (en suite - Spacious room which can be split into two separate rooms)
From the extension there is also access to a sizeable rear garden.
Other Floors
On the first floor of the building there are the four remaining letting rooms:
* Double room (en suite)
* Twin room (en suite)
* Double room (en suite)
* Family room (en suite)
The additional rooms on the first and second floors of the building are used as owner's storage and are nearing completion and include:
* Single room
* Double room (en suite)
* Double room (en suite)
THE OPPORTUNITY There is a large potential here to increase the number of letting rooms in the building subject to obtaining the relevant planning consents. The current manager uses a sizeable portion of the building as owner's accommodation and there is potential to reconfigure the hotel for additional letting rooms. The hotel can be sold with vacant possession and could thus provide the opportunity to convert the building for alternative use, subject to planning permission.
Viewing
Please contact us on 020 8667 0121 if you wish to arrange a viewing appointment for this property, or require further information.
Disclaimer
Benson and Partners endeavour to maintain accurate depictions of properties in Virtual Tours, Floor Plans and descriptions, however, these are intended only as a guide and purchasers must satisfy themselves by personal inspection.
DEVELOPMENT POTENTIAL Potentially a developer could do the following with the existing building, keeping the total units below afordable to 9 which would be subject to planning consents :-
4 x 1 bed flats @ £250,000 each, bathrooms already in each unit!
1 x 1 bed with private entrance
2 x 1 bed self contained own private entrance newly built with gardens! £250,000 plus!
1x 2 bed flat @ £300,000
1x 3 bed split level @ £350,000
Total £2,400,000 plus.
DESCRIPTION The Croydon Hotel is a bed and breakfast which has been family run for over 20 years and is now for sale due to retirement of the owner. Currently only seven of the bedrooms are being let whilst the remainder is used for staff private accommodation. The building has had upper and lower floor extensions and consists of a total of 12 bedrooms (7 bedrooms, 5 nearing completion), plus also staffing quarters etc….
We are of the opinion that the building could lend itself to conversion to flats (STTPC). There may also be an option to put another floor on the building as the property next door is set back and is a church not residential. Plus neighbouring properties are three storey buildings! Any prospective purchaser would have to investigate for themselves of the possibility.
LAYOUT Ground Floor
Ground floor currently let accommodation:
* Twin room with en suite shower room
* Double en suite room
* Family room en suite
Also on the ground floor are a breakfast room with seating for 10, a kitchen, an office/reception, a laundry room with access to a separate kitchen which is part of the staff accommodation.
The staff accommodation contains a double en-suite bedroom and a spacious lounge. The staff bedroom has planning permission granted to convert into an additional letting room.
The ground floor has been extended to the rear nearly finished but not completed where there are three bedrooms that are configured as follows:
* Twin room (en suite)
* Double room (en suite)
* Family room (en suite - Spacious room which can be split into two separate rooms)
From the extension there is also access to a sizeable rear garden.
Other Floors
On the first floor of the building there are the four remaining letting rooms:
* Double room (en suite)
* Twin room (en suite)
* Double room (en suite)
* Family room (en suite)
The additional rooms on the first and second floors of the building are used as owner's storage and are nearing completion and include:
* Single room
* Double room (en suite)
* Double room (en suite)
THE OPPORTUNITY There is a large potential here to increase the number of letting rooms in the building subject to obtaining the relevant planning consents. The current manager uses a sizeable portion of the building as owner's accommodation and there is potential to reconfigure the hotel for additional letting rooms. The hotel can be sold with vacant possession and could thus provide the opportunity to convert the building for alternative use, subject to planning permission.
Viewing
Please contact us on 020 8667 0121 if you wish to arrange a viewing appointment for this property, or require further information.
Disclaimer
Benson and Partners endeavour to maintain accurate depictions of properties in Virtual Tours, Floor Plans and descriptions, however, these are intended only as a guide and purchasers must satisfy themselves by personal inspection.
