SHW, on behalf of private clients, has sold the freehold interest in Melrose House on Dingwall Road in Croydon to South London based property investment and management specialist, Ganco Assets.
The office building, built in the early 1980s, is located close to East Croydon Station. Comprising circa. 22,500 sq ft, over six-storeys, with basement storage and rear and front parking, the multi-let building was sold part let – offering asset management / development potential for the new owners.
Thomas Tarn, Associate of SHW, says: “Melrose House is a longstanding instruction for SHW, with our agency, lease advisory, management and building surveying teams all having worked with the client. Having reported on the future strategy options for the building, with a focus on current day office occupier requirements and MEES, examining the option to refurbish/reposition the building with both commercial and residential options explored, ultimately, the decision was made by the owners to sell Melrose House off-market and allow a new owner to take the building forwards.
“We set about discreetly sourcing a selection of reputable and active buyers, obtaining offers and achieving a sale price which met with the client’s expectations.”
Richard Plant, Partner of SHW, adds: “This is the latest in a number of freeholds we have sold on behalf of our clients in the Croydon area, including 252-254 High Street and Alhambra House. The changes in permitted development rules in March this year alters the complexion for many buildings and we would be happy to advise other building owners on their options for their existing portfolios.”
