commercial property - Other for sale in CR9 5AA, for £20,000,000 by Savills - Proptyle

commercial property - Other for sale in CR9 5AA, for £20,000,000 by Savills

Croydon Park Hotel 7 Altyre Road, Croydon, £20,000,000

Key features Existing 211 bedroom full-service hotel. 1.54 acre site occupied by a 137,000 sq ft GIA vacant hotel. Outline feasibility study undertaken for c.400 units (c.360,000 sq ft) Potential for comprehensive redevelopment of the site and change of use. Exceptional opportunity to purchase a prime freehold hotel in the centre of Croydon’s Commercial District. About this property Substantial 137,000 sq. ft. full-service hotel with 211 guestrooms, car parking, food and beverage facilities, conferencing and event space and fitness and leisure facilities set on a 1.54 acre site. The purpose-built Hotel opened in 1984 and was previously operated under an international hotel brand before operating independently until the hotel’s closure in 2020. Available with vacant possession, unencumbered by brand, franchise or management, providing optimal operational and development flexibility with substantial potential to increase value. Local information Croydon Park Hotel is strategically positioned in the heart of Croydon’s commercial centre in close proximity to both East Croydon (300m) and west Croydon (1.2km) railway stations, where there is a frequent service to London Bridge, London Victoria and the London Underground Network, as well as London Gatwick Airport and Brighton. Prime town centre location in the heart of Croydon in close proximity to east Croydon station, one of London’s busiest stations with 25 million passengers in 2019. The Hotel is situated in the Croydon Metropolitan Centre, the Croydon Opportunity Area and the ‘Edge Area’ for tall buildings, all of which are supportive in principle for additional massing on the site and for alternative uses, potentially unlocking more accretive development proposals. Additional information Extensive asset management opportunities including: hotel repositioning; extension of the existing property; or redevelopment of the site to increase the massing and change of use (subject to obtaining the necessary planning and all other consents) to potentially superior alternative use values. Croydon has benefitted from significant recent investment and is set to benefit from further significant investment to regenerate the town centre. Croydon’s strategic position and excellent transport links make the town attractive to key corporate occupiers that have established Croydon as a premier business location in south London. Energy performance EPC rating of E