49-61 High Street, Croydon

This highly complex development opportunity was purchased from the London Borough of Croydon in July 1998 for £1.8 million. It occupies a prominent corner position in an established commercial location in Croydon Town Centre.

The scheme comprises of a leisure/public house use at the front of the site and 16 one and two bedroom flats above and to the rear of the site. A pre-let was agreed with Brannigans, an operation of First Leisure, for a 14,000 sq.ft. unit, on a new 25 year lease at £255,000 p.a. The residential element was developed and sold on a flat by flat basis by LRE for around £1.6m.

The large Brannigans’ unit was sold to an overseas investor for £3.4 million in 2001

PROFESSIONAL TEAM
Architects: John Clark Associates
Quantity Surveyors: Harris Rourke & Simpson
Engineers: Abraham Consulting
Building Surveyor: White & Co
Agent: Kitchen La Frenais Morgan