2, Rye Lane, PECKHAM, London, SE15 5BS

Description

A freehold three-storey mid-terrace mixed-use property comprising a ground floor amusement centre together with two self-contained residential flats arranged over the first and second floors. The ground floor extends to approximately 1,347 sq ft and is let to RAL Limited trading as an casino centre. The property is held on a lease for a term of 10 years from 14 February 2018, subject to a 5 yearly rent review, at a current passing rent of £48,573 per annum. The upper parts comprise two self-contained flats, accessed independently from Rye Lane. The property occupies a prominent position on the well-established retail parade of Rye Lane within Peckham town centre, benefiting from substantial pedestrian footfall and strong transport links. The surrounding area is characterised by a mixture of national and independent retailers, restaurants, cafés and leisure operators. Tenancy: Let to RAL Limited for a term of 10 years from 14 February 2018, subject to a 5 yearly rent review, at a current rent of £48,573 per annum. Rent reserved: £48,573 per annum

Location

The property is situated on Rye Lane (A2215) in the heart of Peckham town centre. Rye Lane is a busy retailing thoroughfare benefiting from high pedestrian footfall and a wide variety of national and independent occupiers. Public transport links include Peckham Rye Station (London Overground, National Rail and Thameslink services) together with a network of local bus services serving the surrounding vicinity. Accommodation: Unit - Ground floor shop Accommodation - Used as casino/slot machine establishment across approx. 1,668 sq ft (VOA) EPC - TBA Council Tax - N/A Unit - 2A Accommodation - The auctioneers were unable to inspect at the time of going to print but believe the property to comprise a one-bedroom maisonette. EPC - F Council Tax - B Unit - 2B Accommodation - The auctioneers were unable to inspect at the time of going to print but believe the property to comprise a one-bedroom maisonette. EPC - TBA Council Tax - B

Investment Analysis

Investment Snapshot

Property & Refurbishment

Initial feasibility allowance: £15,000–£45,000. This is not a contractor quotation and should be confirmed following inspection and detailed scope.

Rental Analysis

The auctioneer-published rent identified in the source is approximately £48,573 per annum.

GDV / Resale Analysis

No independent RICS/Land Registry comparable valuation has been inserted solely from the scraped auction data. End value should be confirmed against recent genuinely comparable transactions before bidding.

Properties Sold Within Approx. 5 Miles

No independently verified sold comparables are inserted from the auction scrape alone. Confirm recent Land Registry/RICS comparable evidence before relying on a GDV.

Investor Risks & Due Diligence

• Review the full legal pack and title before bidding

• Confirm all auction administration / contract charges

• Verify property condition and obtain appropriate surveys

• Confirm refurbishment costs with contractor quotations

• Verify tenancy documents, rent history and deposit compliance

Recommendation

Preferred strategy: Commercial Income Investment. This recommendation is an initial appraisal based on the auctioneer's published property information and should be tested against the legal pack, inspection, finance and local market evidence.

Strategy Rating

Commercial Income: ★★★★☆

Development: ★★☆☆☆

Flip: ★★☆☆☆