Site

• Land on a corner plot to the rear of x2 existing terraced houses
• Site Area of 0.154 acres (0.062 hectares)
• Located within the London Borough of Croydon
• Coulsdon Town (0.7 miles) and Coulsdon South (1 mile) are the nearest railway stations with direct journey times of approx. 6 minutes to East Croydon station, 28 minutes to London Victoria, 21 minutes to London Bridge and 20 minutes to Gatwick Airport

Acquisition

• Contact initiated through our own direct marketing campaign
• Purchase unconditional direct from vendor
• Agreed a purchase price equivalent to circa 30% of the market value for the existing house
• Impact of the loss of land to the existing home owners property value is negligible (potentially circa 2% reduction in market value)

Financing

Red Banksia obtained a bridging loan from LendInvest to secure the purchase.

Planning

Planning approved for demolition of existing garage and outbuildings, erection of x4 terraced dwellings with associated car parking, vehicular accesses, landscaping, cycle parking and refuse storage.

Floorplan

Schedule of accommodation

Note GIA = Gross Internal Area (Code of Measuring Practice, 6th Edition)