Garages and Land Rear of Croftside, 53 Sunny Bank, South Norwood, London, SE25 4TL

Description

Ten vacant single storey lock up garages situated on a plot of land measuring approximately 475 sq m (5,112 sq ft). Potential for development, subject to obtaining all relevant consents.

Accommodation

Ten single storey lock up garages situated on a plot of land measuring approximately 475 sq m (5,112 sq ft).

Location

The garages are situated on a residential road close to local shops and amenities. The open spaces of South Norwood Country Park are within easy reach. Transport links are provided by Norwood Junction rail station.

Tenure / Property Information

Investment Analysis

The £275,000+ guide is not supported by a directly comparable sale. The only supplied comparable is a £120,000 2023 freehold flat/maisonette transaction at the address and is not suitable for valuing ten garages and 475 sq m of land. Development potential is expressly subject to consents, but no planning evidence, GDV, development appraisal, or land comparables are supplied.

Investment Snapshot

Strategy Recommendation

Do not bid on current evidence. Proceed only after legal, planning, access, title, servicing and development appraisals establish a supported value and total project cost.

Works Required

No specific repair or refurbishment works are evidenced. Any redevelopment, demolition, construction, access, servicing or planning costs remain unknown.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR assessment cannot be completed without a supported GDV, rental evidence, refurbishment/development budget and planning position. The known guide plus stated admin charge is £276,800 before any other fees or works.

Buy-to-Let Analysis

No sufficiently specific rental evidence or auctioneer rent estimate is supplied, so rental income and yield cannot be established. The ten garages are vacant.

Flip Analysis

A flip appraisal cannot be completed because no supported resale GDV, planning consent, development costs, selling costs or comparable land evidence is supplied. The £120,000 flat sale is not an appropriate GDV proxy.

Investor Risks & Due Diligence

• Development potential is subject to obtaining all relevant consents.

• No suitable comparable valuation evidence is supplied.

• No rental evidence is supplied, preventing yield analysis.

• Development, construction, servicing and professional costs are unknown.

• Additional special-condition disbursements and fees may be payable.

• Access, title and legal matters require review of the legal pack.

Recommendation

Do not bid on current evidence. Proceed only after legal, planning, access, title, servicing and development appraisals establish a supported value and total project cost.

Strategy Rating

Analysis Confidence

The evidence confirms tenure, vacancy, garage count, approximate site area and guide, but provides no suitable valuation, rent, planning, condition or development-cost evidence.