81/81a High Street, Lindfield

Description

The property is arranged over basement, ground and two upper floors to provide a convenience store with a 3 bedroom maisonette above. To the rear the property benefits from a large garden. Arranged over 2,437 sq ft. Well positioned on Lindfield High Street, an affluent village in West Sussex. VAT is not applicable.

Accommodation

Basement - 44.10 sq m (475 sq ft); Ground Floor - 73.76 sq m (794 sq ft); Part First Floor - 7.50 sq m (81 sq ft); 3 bedroom Maisonette - 101 sq m (1,087 sq ft); Total - 226.36 sq m (2,437 sq ft).

Location

The property occupies a prominent position on Lindfield High Street in the heart of the affluent West Sussex village of Lindfield, approximately 2 miles north east of Haywards Heath. The area benefits from a strong local retail and leisure offering, with nearby occupiers including Morrisons Daily and a range of independent retailers, cafés and restaurants. Haywards Heath railway station provides regular services to London, Brighton and the wider South East. Lindfield is accessed via the A272, which connects with the A23 approximately 3 miles to the west. Haywards Heath Railway Station is approximately 2 miles south west of the property. London Gatwick Airport is approximately 14 miles north west of the property.

Tenure / Property Information

Investment Analysis

The £370,000 guide equates to approximately 15.7 times the stated annual rent of £23,500 and a gross yield of 6.35% before acquisition costs. The property is a freehold mixed-use investment let on an FRI lease, which supports an income-led assessment. No completed sales comparables, formal valuation, market yield evidence or purchaser fees were supplied, so GDV and a reliable maximum bid cannot be established. The lease expires in 2029 with no breaks, creating a medium-term re-letting or renewal risk.

Investment Snapshot

Strategy Recommendation

Income-led hold, subject to satisfactory legal due diligence, confirmation of the FRI lease, tenant covenant, rent payment history, repair liabilities and all auction/seller charges. Do not underwrite a refurbishment, BRRR or flip without valuation and cost evidence.

Works Required

No specific refurbishment works are evidenced. The property should be assessed for compliance, maintenance and repair obligations under the FRI lease, with particular attention to the EPC rating of D and the condition of the retail, office, maisonette, basement and garden areas.

Rental & Market Context

Potential BRRR Position

A BRRR assessment cannot be completed reliably because no GDV, refurbishment budget, lending terms or market valuation evidence is supplied. At 75% of any eventual GDV, refinance proceeds and cash left in would depend materially on the valuation and lease position, particularly the 2029 expiry.

Buy-to-Let Analysis

The stated passing rent is £23,500 per annum under an FRI lease to Alliance Property Holdings Ltd trading as Morrisons Daily. At the £370,000 guide, the gross yield is approximately 6.35% before finance, tax, insurance, legal costs and any auction or seller charges. The supplied £1,425 pcm advertised rental evidence is not clearly attributable to the whole mixed-use property and is not treated as achieved rent. Lease expiry in 2029 is the principal income risk.

Flip Analysis

A flip appraisal is unsupported because no completed sales comparables, GDV, refurbishment budget, selling costs or evidence of vacant possession were supplied. The existing investment is income-producing and subject to a lease, so a resale strategy would also need to address the lease term and purchaser demand for the mixed-use asset.

Investor Risks & Due Diligence

• Lease expires in 2029 with no breaks, creating renewal, re-letting and valuation risk.

• The property is occupied by a single commercial tenant under the stated lease, creating tenant concentration and covenant risk.

• Additional buyer, seller or third-party charges are unspecified and may reduce the effective yield.

• No completed sales comparables or formal valuation were supplied.

• The EPC rating is D and the condition of the property has not been evidenced.

• The £1,425 pcm advertised rental evidence is not clearly for the whole mixed-use property and is not an achieved rent.

Recommendation

Income-led hold, subject to satisfactory legal due diligence, confirmation of the FRI lease, tenant covenant, rent payment history, repair liabilities and all auction/seller charges. Do not underwrite a refurbishment, BRRR or flip without valuation and cost evidence.

Strategy Rating

Analysis Confidence

The passing rent, lease terms, tenure, accommodation and guide price are supplied, but there are no sales comparables, formal valuation, refurbishment costs, buyer fees, financing terms or clearly attributable market rent evidence.