Green Dragon House
The development of a dilapidated and vacant office building to provide 119 award winning residential units in Croydon
Details:
Green Dragon House is an award winning development of 119 residential apartments following the conversion of a vacant 1960s office building in the heart of Croydon.
With the main entrance located on the high street amongst an array of commercial units, the only opportunity for amenity space was to utilise the rooftops, offering stunning views of the London skyline and beyond.
YKG was involved in the procurement and construction stages of the project, seeing through the 124.34% gross margin for our developer clients.
Permitted Development
Total Units
Unit Sale £psf
Avg Price of 1 Bed flat
Avg Price of 2 Bed flat
GDV
Gross Costs
Gross Profit
Gross Margin
Duration
Equity Investment
Initial
111
£435
£151,318
£172,294
£23,175,000
£15,650,000
£7,525,000
48%
24 months
£2,400,000
Actual
119
£664
£226,000
£316,000
£37,567,162
£16,745,846
£20,821,315
82%
30 months
£2,400,000