Bengal Brasserie, 79 Springbank Road, London

Description

This freehold building is arranged as a vacant commercial premises with flat above which has been sold on a long lease. Formerly an Indian restaurant, the premises is situated in a well-connected south-east London location. The property may offer potential for alternative uses, subject to all necessary consents being obtainable.

Accommodation

Ground floor: waiting area, seating area, commercial kitchen, store room, male and female toilets. First-floor flat.

Location

Well-connected south-east London location.

Tenure / Property Information

Investment Analysis

The £320,000+ guide is the only current pricing evidence supplied. The two Land Registry sales are historic 2002 and 1996 flat/maisonette transactions on the same road and are not sufficiently comparable to this freehold commercial premises with a long-lease flat. No supported GDV, rental value or market value can therefore be established.

Investment Snapshot

Strategy Recommendation

Proceed only after commercial valuation, inspection, lease/title review and planning investigation. Do not bid on the guide alone; the evidence does not support a reliable investment or resale case.

Works Required

No specific defects or refurbishment requirements are evidenced. The vacant restaurant accommodation would require inspection and costing before bidding. Any alternative use would require all necessary consents, which are not confirmed.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR assessment cannot be supported without a current GDV, refurbishment budget, finance assumptions or reliable rent. The long-lease disposal of the flat materially limits the freehold's residential income, and the commercial element is vacant.

Buy-to-Let Analysis

BTL analysis cannot be established because no sufficiently specific rental evidence or auctioneer rent estimate is supplied. The commercial premises is vacant, while the first-floor flat is already sold on a 189-year lease and produces only a stated £50 annual ground rent, reportedly not collected in recent years.

Flip Analysis

A flip analysis cannot be supported because there is no current comparable evidence, reliable GDV, works budget, selling-cost allowance or confirmed alternative-use consent. The supplied historic flat sales do not establish resale value for this mixed freehold asset.

Investor Risks & Due Diligence

• Commercial premises are vacant, with no passing commercial income evidenced.

• No sufficiently specific rental comparable or auctioneer rent estimate is available.

• The first-floor flat is sold on a 189-year lease and the £50 annual ground rent has reportedly not been collected in recent years.

• Alternative uses are only potential and depend on obtaining all necessary consents.

• Buyer administration, other non-optional fees, VAT, Stamp Duty and Land Registry costs are unspecified or may apply.

• No condition survey or refurbishment cost evidence is supplied.

• The historic sold comparables are flat/maisonette transactions from 1996 and 2002 and are not reliable evidence of current value for this property.

Recommendation

Proceed only after commercial valuation, inspection, lease/title review and planning investigation. Do not bid on the guide alone; the evidence does not support a reliable investment or resale case.

Strategy Rating

Analysis Confidence

Evidence is limited to the guide, a general description, a long-lease arrangement, two highly dated and non-comparable historic sales, and no rent, GDV, works or fee figures.