Summary - 21 WESTOW STREET LONDON SE19 3RY
1 bed 1 bath Retail Property (high street)
**Standout Features:**
- Prime freehold mixed-use investment in Crystal Palace Triangle
- Gross annual income of £112,800, strong rental potential
- Planning permission for conversion into residential units
- Convenient location near Crystal Palace Station and Westow Park
- Chain-free sale, offering immediate accessibility for investors
**Positive Aspects:**
This exceptional freehold mixed-use property, nestled in the thriving Crystal Palace Triangle, presents a lucrative opportunity for investors seeking both immediate income and long-term capital growth. Spanning approximately 1,600 square feet over three stories, the property boasts a productive ground floor barber shop on a long-term lease generating £24,000 annually, and a rear commercial unit currently leased informally for £60,000 per year. The potential to convert existing spaces into desirable residential units significantly amplifies its appeal, with prior approval already in place for a one-bedroom flat on the first floor, giving you the chance to create a lucrative one- or two-bedroom dwelling.
The property's excellent location enhances its desirability with easy access to key amenities and transport links, positioning it as a prime choice for high rental demand, primarily among young professionals and families. Notably, the combination of existing passive income and flexible future development options creates an investment with exceptional versatility and potential.
**Potential Concerns:**
While the property offers a myriad of advantages, prospective buyers should note that renovations are required to complete the interior layout and achieve full rental potential. Current works for the conversion approvals are partly complete, meaning buyers must be prepared to arrange for the necessary final fit-outs and Building Control sign-offs. Additionally, the surrounding area does exhibit a higher crime rate, which may influence the investment’s appeal for certain demographics.
In summary, this property is a unique investment opportunity, offering not only a significant immediate income but also the potential for further development and growth in a dynamic and rapidly evolving neighborhood. Given the diverse use possibilities and current tenant arrangements, this is an investment that deserves immediate attention.
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