Unit 2 Maybrey Works, 2 Hatcham Street, Sydenham, London, SE26 5FQ

Description

Ground floor commercial unit forming part of a 159-unit residential scheme. Recent change of use granted to Class E. Total accommodation approximately 126.94 sq m (1,366 sq ft) with generous floor-to-ceiling height. VAT is applicable. The property is vacant.

Accommodation

Ground floor commercial unit; approximately 126.94 sq m (1,366 sq ft); generous floor-to-ceiling height.

Location

Situated on the east side of Purbeck Gardens to the south of Worsley Bridge Road, Sydenham. Lower Sydenham Station is 125m away, with frequent Southeastern services to London Bridge (15 minutes) and Charing Cross (25 minutes). Nearby occupiers include Lidl, Crystal Palace FC, Screwfix, GSF Car Parts, King's College Hospital, and a nursery.

Tenure / Property Information

Investment Analysis

The supplied sold comparables are leasehold flats/maisonettes and are not suitable direct evidence of the value of this 1,366 sq ft Class E commercial unit. The only rental evidence is an advertised asking rent of £1,901 pcm, not an achieved or passing rent. A reliable commercial GDV, resale value, refurbishment budget or maximum bid cannot therefore be established from the supplied evidence. VAT is applicable and additional seller or third-party charges may apply, but no amounts are provided.

Investment Snapshot

Strategy Recommendation

Treat as a potential commercial letting or owner-occupier opportunity only after confirming achievable rent, VAT treatment, lease provisions, condition, compliance and all acquisition costs. Do not rely on the supplied residential comparables for valuation.

Works Required

No specific defects or required works are evidenced. Allow only for inspection, compliance checks and any tenant-specific fit-out or finishing works identified after inspection; no monetary allowance can be supported from the evidence.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR assessment cannot be completed because no supported commercial GDV, refurbishment cost, finance cost or refinance valuation is available. The 125-year lease from 01.04.2021 has a peppercorn ground rent, with an option to extend to 999 years at no premium, but lease terms and lender acceptability should be reviewed.

Buy-to-Let Analysis

At the £110,000 guide, the advertised £1,901 pcm rent equates to an indicative gross yield of 20.74% before vacancy, operating costs, finance, VAT, acquisition costs and any fit-out. This is based on an asking rent rather than achieved or passing rent, so it should not be treated as confirmed income. Commercial demand and tenantability require verification.

Flip Analysis

A flip appraisal is unsupported. The available sold comparables are residential flats and cannot establish the resale value of this commercial unit. VAT, additional charges, selling costs and any fit-out costs are also not quantified.

Investor Risks & Due Diligence

• The supplied sold comparables are residential flats and are not directly comparable to the commercial unit.

• The £1,901 pcm figure is an advertised asking rent, not achieved or passing rent.

• The unit is vacant, so income is not secured and letting periods are uncertain.

• VAT is applicable, but the payable amount and whether it is recoverable are not provided.

• Additional seller or third-party charges may apply, with no amounts supplied.

• No condition, EPC, heating, parking, compliance or fit-out information is provided.

• Leasehold terms, including the extension option and any other lease restrictions, require legal review.

Recommendation

Treat as a potential commercial letting or owner-occupier opportunity only after confirming achievable rent, VAT treatment, lease provisions, condition, compliance and all acquisition costs. Do not rely on the supplied residential comparables for valuation.

Strategy Rating

Analysis Confidence

The property description, lease length, guide price and one advertised rent are supplied, but there is no directly comparable commercial sale evidence, achieved rent, condition survey, EPC, fee schedule, VAT treatment detail or refurbishment budget.