Roadway to the rear of, 46-64, London Road, MORDEN, Surrey, SM4 5BE

Description

Freehold roadway. The auctioneers understand there may be potential for income from parking area/space at the western end of the roadway. Prospective bidders are deemed to have relied upon their own enquiries with regards to any rights of way/easements relating to the roadway.

Location

The service road is located off the north side of London Road (A24) to the rear of an established retail parade adjacent to Sainsbury’s supermarket and within close proximity to Morden (Northern Line) underground station.

Tenure / Property Information

Investment Analysis

The subject is a freehold roadway, not a dwelling or clearly described development plot. The supplied London Road comparables are classified as “Other” or terraced properties and are not sufficiently specific to value the roadway. The auctioneer refers only to potential income from parking at the western end; no parking capacity, rights, permissions, income evidence or valuation is supplied. A GDV, rent, yield or maximum bid cannot therefore be supported.

Investment Snapshot

Strategy Recommendation

Do not bid on an investment or development basis without confirming title, access and easement arrangements, lawful parking use, parking capacity, income potential and all Special Conditions. The asset should be treated as speculative until those enquiries support a value.

Works Required

No physical refurbishment works are evidenced. Required investigation should focus on title, rights of way, easements, access, parking rights, permitted use and any restrictions affecting the roadway or potential parking income.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

BRRR is unsupported. There is no evidenced residential or commercial income stream, refurbishment plan, GDV or refinance valuation. The £1,800 inclusive-of-VAT contract documentation fee is known, but potential seller charges and other acquisition costs are not quantified.

Buy-to-Let Analysis

BTL analysis cannot be established because there is no dwelling, passing rent, auctioneer rent estimate or sufficiently specific rental comparable. Any parking income is expressly described as potential only.

Flip Analysis

A flip appraisal cannot be established because no resale value or supported market value is available for the roadway. The supplied comparable sales are not sufficiently specific, and no selling allowance or development potential is evidenced.

Investor Risks & Due Diligence

• Rights of way and easements are expressly subject to the bidder’s own enquiries.

• Parking income is only described as potential and is not supported by a rent, capacity or permission.

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

• The supplied sales comparables are not sufficiently specific to the roadway.

• The seller may charge additional completion fees under the Special Conditions of Sale.

• The £1,800 contract documentation fee is payable, while other acquisition costs are not quantified.

Recommendation

Do not bid on an investment or development basis without confirming title, access and easement arrangements, lawful parking use, parking capacity, income potential and all Special Conditions. The asset should be treated as speculative until those enquiries support a value.

Strategy Rating

Analysis Confidence

Evidence identifies the tenure and general location but provides no usable valuation, rent, parking capacity, legal rights, permitted use, condition, income or complete cost information. The supplied comparables are not directly comparable.