Latest Valuation
£2,170,000
ROCE
%
Selling Agent
Sourced Uxbridge

Freehold – Brand New Block of Flats

New build scheme set to complete in Feb/March 2021.
Guide Price
£2,150,000

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Key Features

  • Project Completion: Feb/March 2021
  • New Build
  • Freehold
  • 6 Apartments
  • Croydon
  • Off Market

The Property

This development will comprise a detached four-storey building with 2x studio, 2x one bedroom and 2x two bedroom flats; with the provision of associated parking and landscaping.

Fortune House offers fresh, contemporary living space in a vibrant, ascendant location on the fringes of London.

Off market
Gated community
Close to amenities
Located off the high street to avoid busy feeling

INTERIORS
• Contemporary kitchens from UK manufacturer Price Kitchen
• Modern and trendy kitchen splash back
• Sleek modern bathrooms supplied by Grohe on ceramics
• Vado on brassware and Roman on bath screens
• Bosch appliances throughout
• Premium grade vinyl flooring
• Underfloor heating
• All apartments have been thoughtfully designed to offer affordable luxury

EXTERIORS
• Amazing long sliding balcony
• Wienerberger heathfield red blend multi stock brick
• Children’s playground area dedicated for the gated community
• Ground floor lockers for each apartment
• Colour video/audio entry system to all communally accessed apartments
• Cycle parking store
• 5 x car parking spaces

Planning Information

Scheme Details:
18/04812/FUL | Erection of a detached four storey building comprising 2x studio, 2x one bedroom and 2x two bedroom flats. Provision of associated parking and landscaping. | Venture House Car Park 15 High Street Purley CR8 2AF
Fortune House, 11c High Street Purley
Planning Link: https://publicaccess3.croydon.gov.uk/online-applications/applicationDetails.do?keyVal=PFYZAXJLLKK00&activeTab=summary

floor plan

The Plan

Asking price: £2,150,000 (including freehold)
GDV: £2,170,000
Sourcing fee: 2%
Annual rental income: £87,600

Help To Buy available
3 floors
6 apartments
Apartment sizes range from 37.1m2 to 64.60m2

2 x studios £280k each
Service charges £1,370.88 pa each
Ground rent £280 pa each
Rental: £1,050 PCM

2 x 1 bedroom £340k each
Service charges £1,942.08 pa each
Ground rent £340 pa each
Rental: £1,250 PCM

2 x 2 bedroom £440k each
Service charges £12,399.04 pa each
Ground rent £4,400 pa each
Rental: £1,350 PCM

All one allocated parking space bar one of the studios.
Lease term on all 130 years.
Parking additional at £10,000 each (5 in total).

Total £2,170,000

Regarding the rentals, there is a new built scheme in Purley that is renting much higher than the above predicated PCM Rents and it is in a worse location than this.
Pampisford Road, Purley, CR8 (2 bed Rental range - £1,550 PCM - £1,800 PCM) https://www.rightmove.co.uk/properties/82703923#/

The Location

For the discerning first time buyer or investor, a property in the development represents the chance to be part of this economic and cultural transformation, while still enjoying the draw of the capital,
less than half an hour away.

Purley is a leafy but vibrant London suburb that possesses the harmony of a thriving high street, dining and bar scene, as well as numerous choices for shopping. Leisure and recreation are well served in Purley, with a multiplex cinema, bowling, a leisure centre and numerous golf courses all nearby. The town also enjoys close proximity and easy access to numerous parks and open
countryside.

Purley is served by rail from two stations on the London to Brighton mainline, with direct trains to and from London Bridge, Victoria and Gatwick Airport. These are all accessible within 30 minutes, and Brighton in under an hour. Croydon’s Tramlink serves the surrounding areas of South London and multiple bus routes stop in the centre of Purley . The town is also an easy gateway to the M25
and southern England by road, with the natural splendour of the South Downs, as well as the coasts of Sussex and Kent, all reachable in little over an hour.

Average estimated value for a house in

£

These 6 modern apartments are located in Purley, a lively, well connected town in the heart of the London Borough of Croydon, currently benefiting from a landmark regeneration plan that will transform the area.

This has already seen the arrival of independent fashion and dining space, Boxpark already a renowned leisure concept in other areas of London and work will soon be underway on the 1.5 million sq.ft Westfield shopping centre. Croydon’s Fairfield Halls is going under a £42 million makeover funded by the Croydon council into a state of the art performance venue at the heart of a stunning new cultural quarter. In Purley itself, there are plans for further regeneration of housing, retail and a multi use state of the art building for the community, which will accommodate sporting, leisure, meeting and retail activities for the whole community.

Purley is home to a number of schools including four notable Catholic schools, two of which are in Peaks Hill, Surrey. These schools are The John Fisher School, a high performing Catholic all boys state school (formerly an independent and then highly selective state school); Laleham Lea School, a co educational prep school and Oakwood School, a co educational Catholic primary. Cumnor House School, a prep school, is also in Purley. Oakwood Prep School is located on Godstone Road, Purley, and has been awarded Outstanding by Ofsted for over 10 years.
Purley has one of the UK's longest established language schools, Purley Language College, founded in 1928.

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