210 Upper Tulse Hill, London, SW2 2NS

Description

Virtual Freehold Shop Investment. Comprises a ground floor dry shop let until 2029 with no breaks. Forms part of an established local parade. Uncapped RPI linked rent reviews. Situated in a densely populated South London suburb. VAT is not applicable. Six Week Completion Available.

Accommodation

Ground floor dry shop

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

The £125,000–£135,000 guide is the only current pricing evidence and is not a formal valuation. The supplied sold comparables are not sufficiently comparable: one is identified only as 'Other' and the other is a flat/maisonette, with dates from 2007 and 2021. No passing rent, tenant covenant, lease terms for the occupational tenancy, or investment yield evidence is supplied, so GDV and market value cannot be reliably established. The £2,125 pcm commercial listing is an advertised asking rent elsewhere in Tulse Hill, not evidence of this property's achieved or passing rent.

Investment Snapshot

Strategy Recommendation

Consider only as a commercial income hold subject to verifying the passing rent, tenant covenant, occupational lease, rent-review provisions, condition and all special-condition costs. Do not bid solely on the advertised Tulse Hill rent evidence.

Works Required

No refurbishment or repair works are evidenced. The asset appears to be an income-producing ground-floor dry shop, so inspection should focus on condition, statutory compliance, EPC position, repairing obligations and the occupational lease.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR strategy cannot be underwritten from the supplied evidence. There is no supported GDV, passing rent, refurbishment budget or refinance valuation. The new 250-year lease from completion at a peppercorn ground rent is favourable in structure, but refinance capacity depends on the occupational rent, tenant covenant and lender treatment of the commercial lease.

Buy-to-Let Analysis

This is a commercial investment rather than a residential BTL. The only rental evidence is one £2,125 pcm advertised commercial asking rent in Tulse Hill, implying £25,500 annually, but it is not confirmed as this property's passing rent or an achieved rent. Indicative gross yield is approximately 18.9%–20.4% against the £125,000–£135,000 guide, before costs, voids, taxes, finance and management. A reliable yield cannot be established until the rent schedule and occupational lease are reviewed.

Flip Analysis

No supported resale GDV, refurbishment allowance or selling-cost allowance is available. The supplied comparables are not suitable evidence for a resale surplus, so a flip return cannot be calculated.

Investor Risks & Due Diligence

• The actual passing rent is not supplied, so income and yield cannot be confirmed.

• The £2,125 pcm figure is an advertised asking rent elsewhere in Tulse Hill, not an achieved or property-specific rent.

• The occupational tenancy ends in 2029 and no break is stated; reletting, renewal and void risk thereafter are unquantified.

• Tenant covenant, repairing obligations and other occupational lease terms are not supplied.

• Uncapped RPI-linked reviews may affect income, but the review dates and mechanics are not supplied.

• Additional seller or third-party charges may apply and are not quantified.

• No condition, EPC or statutory-compliance evidence is supplied.

Recommendation

Consider only as a commercial income hold subject to verifying the passing rent, tenant covenant, occupational lease, rent-review provisions, condition and all special-condition costs. Do not bid solely on the advertised Tulse Hill rent evidence.

Strategy Rating

Analysis Confidence

The guide, tenure, lease structure, occupancy period, rent-review basis and buyer premium are supplied, but passing rent, tenant details, lease documentation, condition, EPC, costs and reliable commercial comparables are absent.