SHW has acquired the freehold interest in a 5,895 sq ft office investment on behalf of a retained client.
Acquired with development potential, 94 Park Lane in Croydon, is a purpose-built, four storey office building, with a car parking area to the rear, situated less than 15 minutes’ walk from the town centre and East Croydon Station. The entire space is let to HML PM Limited until July 2025 at a low passing rent of £110,000 per annum, proving the opportunity for repositioning, including alternative uses, subject to planning.
Croydon is one of the best-connected towns in South London, with excellent road and rail links. The second largest London borough by population, Croydon is a leading business and financial centre and is home to companies including AECOM, Allianz, American Express, HMRC and he Home Office.
Richard Plant, Partner at SHW, comments: “We are delighted to acquire this ready-made investment, with future development potential, on behalf of our valued client. The flexible leasing structure allows for asset management opportunities to be explored for the building to dramatically increase rental income, or explore residential conversion
Rapleys and Aston Rose advised the seller.