4 Bedford Park
Croydon CR0 2AP
Sunley House · Office Property For Sale
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INVESTMENT HIGHLIGHTS
- Sunley House is located a 5-minute walk from West Croydon station and a 7-minute walk from East Croydon station
- Significant potential for redevelopment to a mixed-use scheme, subject to necessary consents
- Croydon is one of South East England’s most significant financial and commercial hubs
EXECUTIVE SUMMARY
- Greater London, multi-let office building with significant potential for repurposing / permitted development scheme.
- Croydon is one of South East England’s most significant financial and commercial hubs.
- Sunley House is located a 5-minute walk from West Croydon station and a 7-minute walk from East Croydon station.
- The property comprises office accommodation providing in excess of 105,000 sq ft NIA (134,267 sq ft GIA) arranged over ground, basement and 10 upper floors.
- Freehold site of 1.15 acres (0.47 hectares).
- On-site surface level car parking is provided for 95 vehicles, providing a generous office ratio of 1:1,112 sq ft.
- Whole building EPC score of C-63.
- Multi-let to seven tenants, with a WAULT of 2.9 years to expiry and 1.9 years to breaks based on current contracted income.
- Diverse tenant base with spread of lease events offering numerous asset management opportunities.
- Sunley House provides a contracted rental income of £1,616,933 per annum producing a low average rent of only £22.85 per sq ft – the rents range from £22.50 to £27.50 per sq ft.
- Further additional income is produced via a profit share arrangement with TBXH who provide co-working space in the building. Further information is available on request.
- Highly flexible floorplates averaging c.9,800 sq ft, readily divisible into multiple smaller suites.
- Let at a 40% discount to prime Croydon office rents (£22.85 per sq ft versus £38.50 per sq ft).
- Significant potential for redevelopment to a mixed-use scheme, subject to necessary consents.
- Croydon is one of South East England’s most significant financial and commercial hubs.
- Sunley House is located a 5-minute walk from West Croydon station and a 7-minute walk from East Croydon station.
- The property comprises office accommodation providing in excess of 105,000 sq ft NIA (134,267 sq ft GIA) arranged over ground, basement and 10 upper floors.
- Freehold site of 1.15 acres (0.47 hectares).
- On-site surface level car parking is provided for 95 vehicles, providing a generous office ratio of 1:1,112 sq ft.
- Whole building EPC score of C-63.
- Multi-let to seven tenants, with a WAULT of 2.9 years to expiry and 1.9 years to breaks based on current contracted income.
- Diverse tenant base with spread of lease events offering numerous asset management opportunities.
- Sunley House provides a contracted rental income of £1,616,933 per annum producing a low average rent of only £22.85 per sq ft – the rents range from £22.50 to £27.50 per sq ft.
- Further additional income is produced via a profit share arrangement with TBXH who provide co-working space in the building. Further information is available on request.
- Highly flexible floorplates averaging c.9,800 sq ft, readily divisible into multiple smaller suites.
- Let at a 40% discount to prime Croydon office rents (£22.85 per sq ft versus £38.50 per sq ft).
- Significant potential for redevelopment to a mixed-use scheme, subject to necessary consents.
PROPERTY FACTS Under Contract
Sale Type
Investment
Property Type
Office
Tenure
Freehold
Building Size
115,579 SF
Building Class
B
Year Built/Renovated
1964/1985
Price
$25,361,999
Price Per SF
$219
Cap Rate
7.74%
NOI
$1,963,019
Percent Leased
100%
Tenancy
Multiple
Building Height
12 Stories
Typical Floor Size
9,365 SF
Building FAR
2.33
Lot Size
1.14 AC
Parking
1 Space per 1,000 SF Leased
AMENITIES
- Raised Floor
- Accent Lighting
- Energy Performance Rating - B
- Storage Space
- Air Conditioning