204 Upper Tulse Hill, London, SW2 2NS

Description

Comprises a ground floor dry cleaners let until 2034 (no breaks). Forms part of an established local parade. Uncapped Annual RPI linked rent reviews. Situated in densely populated South London suburb. The property forms part of a larger building, the remainder of which is not included in the sale.

Accommodation

Ground floor dry cleaners

Location

Tulse Hill is a densely populated suburb situated between Streatham and Dulwich, approximately 6 miles south-east of Central London. The property has good road access, being close to the South Circular (A205) and the A23, access to which is via the A215. Tulse Hill Rail Station is approximately 800 m from the property, providing rail services to London Bridge. The property is situated on the south side of Upper Tulse Hill Road, close to its junction with Tulse Hill, in a predominantly residential area close to Brockwell Park.

Tenure / Property Information

Investment Analysis

This is a leasehold ground-floor dry-cleaners investment within a larger building. The supplied guide is £120,000–£125,000, with a known buyer fee of £4,200 including VAT. The tenant is stated to be committed until 2034 with no breaks, and the lease has uncapped annual RPI-linked rent reviews. However, no passing rent, auctioneer rent estimate, lease rent schedule, tenant covenant information or sufficiently comparable commercial sales evidence is supplied. The residential comparables are not relevant to valuing this commercial investment. A supported GDV, yield or maximum bid cannot therefore be established.

Investment Snapshot

Strategy Recommendation

Treat as an income-led commercial leasehold purchase only if the full lease, passing rent, tenant covenant and rent-review provisions are verified. Do not bid on the current evidence alone without establishing the investment value and total acquisition costs.

Works Required

No refurbishment works are evidenced in the supplied information. Verify the lease, repairing obligations, condition, statutory compliance and any dry-cleaning-related environmental obligations before bidding.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR strategy cannot be assessed reliably. No refurbishment requirement, rent, supported GDV or refinance valuation is supplied. The long lease and stated tenancy may support an investment hold, but the absence of income evidence prevents assessment of refinance proceeds and cash left in.

Buy-to-Let Analysis

BTL analysis is not applicable in the residential sense because this is a commercial shop investment. A commercial investment yield cannot be calculated because the passing rent and rent payable under the tenancy are not supplied. The stated occupation to 2034 with no breaks is potentially supportive, but the income level and tenant covenant remain unverified.

Flip Analysis

A flip analysis cannot be supported because there is no relevant commercial comparable valuation evidence, no refurbishment budget and no selling-cost allowance. The supplied residential Land Registry comparables should not be used to establish the shop's resale value.

Investor Risks & Due Diligence

• Passing rent and the commercial investment yield are not supplied.

• Tenant covenant and full tenancy terms have not been provided.

• The property is leasehold and forms part of a larger building that is not included in the sale.

• Uncapped annual RPI-linked rent reviews require review of the precise lease wording and review mechanism.

• Additional seller or third-party charges may apply under the special conditions or addendum.

• No condition, EPC or statutory compliance information is supplied.

• The stated tenancy runs until 2034 with no breaks, which may limit flexibility if the investment or tenant circumstances change.

Recommendation

Treat as an income-led commercial leasehold purchase only if the full lease, passing rent, tenant covenant and rent-review provisions are verified. Do not bid on the current evidence alone without establishing the investment value and total acquisition costs.

Strategy Rating

Analysis Confidence

The property description and headline lease structure are supplied, but rent, condition, commercial valuation evidence, EPC and several lease and cost details are missing.