Central Croydon development site goes on the market
The freehold of an 0.53 acre site with planning permission for 230 residential units in central Croydon is going up for sale.
London-headquartered Watling Real Estate has been instructed to sell the development opportunity at Edridge road, which was formerly occupied by offices.
The site is currently occupied by NCP as temporary car park, producing an income of £67,200 per annum, on a management agreement which has now expired but negotiations are underway for a new short-term licence.
Andrew Foster and Chris Walker of Watling Real Estate have been appointed LPA Receivers, with Jamie Lamond and Tom Colyer in Watling’s London office leading the sale process.
Lamond said: "The detailed planning permission is for a part 33 storey, part 11 storey, development providing the 230 residential units, plus a residents’ gym, communal roof terraces and amenity spaces.
"The proposed development consists of 100 one bedroom, 78 two bedroom and 53 three bedroom apartments, with 43 units to be allocated for social housing within the 11 storey block."
The agreed scheme for the site will see two co-joined towers linked by a shared ground floor with two separate entrances, and includes various green spaces, a play area on the first floor and a shared play/garden area on the 11th floor.
The penthouses will have the benefit of a roof terrace with views across Croydon and the London skyline.
