2, Sanway Close, West Byfleet, Surrey

Description

A freehold mixed-use investment comprising commercial premises with ancillary residential accommodation, benefiting from planning permission for the erection of three terraced houses. The property comprises a ground floor retail shop with ancillary store accommodation together with a self-contained residential flat providing three bedrooms, a kitchen/dining room, bathroom/WC, hallway and storage cupboards.

Accommodation

Existing accommodation: ground floor retail shop with ancillary store accommodation and a self-contained three-bedroom residential flat. Existing approximate total internal area is 180.99 sq m (1,949 sq ft), comprising approximately 159.67 sq m (1,719 sq ft) plus a store of approximately 21.33 sq m (230 sq ft). Proposed accommodation for each of three houses: first floor with two bedrooms, bathroom/WC and landing; ground floor with open plan reception room/dining/kitchen, study, cloakroom/WC and entrance hall; rear garden and two parking spaces.

Location

Situated on the corner of Sanway Close and Sanway Road within Byfleet, Surrey. West Byfleet Railway Station provides services to London Waterloo. Road links include the M25 Junction 10 and the A3. Local amenities are available in Byfleet Village Centre, with further shops, bars and restaurants in West Byfleet, Weybridge and Woking. Recreational areas include Byfleet Recreation Ground, Brooklands Community Park and Wisley Common.

Tenure / Property Information

Investment Analysis

The £270,000 guide is materially below the supplied nearby residential sales range of £420,000–£605,000, but those comparables are existing houses and are not sufficiently specific to value this mixed-use property or the proposed three-house scheme. No reliable GDV, rental value or refurbishment cost can therefore be established. The buyer’s known guide-level outlay is £271,800 including the £1,800 contract documentation fee, excluding any seller’s additional fees and other acquisition costs.

Investment Snapshot

Strategy Recommendation

Treat as a planning-led development opportunity subject to full legal, planning, lease and construction-cost due diligence. Do not bid on a projected GDV or rental yield until the three-house consent, lease economics and total project cost are verified.

Works Required

Assess and, if viable, implement the existing planning permission for three terraced houses, including the specified internal layouts, rear gardens and two parking spaces per house. The evidence does not establish existing defects or the construction cost, so no refurbishment allowance is assumed.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

The proposed development may provide a route to value creation, but the evidence does not provide a supported GDV for the three houses, construction budget, planning conditions, finance costs or exit assumptions. A refinance calculation cannot be completed. Legal, planning and development appraisal should precede any bid.

Buy-to-Let Analysis

The property is let under a full repairing and insuring lease expiring on 28 September 2029, but no passing rent or sufficiently specific rental evidence is supplied. The 2019 and 2024 rent reviews are outstanding. BTL yield, debt coverage and investment value cannot be established without the lease rent, review position and other acquisition costs.

Flip Analysis

A flip appraisal cannot be supported from the available evidence. Nearby completed sales range from £420,000 to £605,000, but they are existing detached, semi-detached and terraced houses and do not establish the resale value of each proposed house. Construction cost and selling costs are also unavailable.

Investor Risks & Due Diligence

• The full repairing and insuring lease expires on 28 September 2029, limiting the remaining term.

• Rent reviews due in September 2019 and September 2024 are outstanding, and no passing rent is supplied.

• The supplied nearby sales are not sufficiently specific to value the mixed-use premises or proposed three-house development.

• Planning permission details, conditions, deliverability and any obligations are not supplied.

• Construction, professional, finance and selling costs are unavailable, preventing a reliable development appraisal.

• EPC, council tax, heating and existing parking information are unavailable.

• The seller may charge additional completion fees under the Special Conditions of Sale.

Recommendation

Treat as a planning-led development opportunity subject to full legal, planning, lease and construction-cost due diligence. Do not bid on a projected GDV or rental yield until the three-house consent, lease economics and total project cost are verified.

Strategy Rating

Analysis Confidence

The tenure, accommodation, lease structure, planning proposition, guide price and nearby completed sales are supplied, but rent, planning detail, condition, construction costs, GDV evidence, parking information and potential additional fees are unavailable.