Unit 3 Maybrey Works, 4 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. VAT is applicable. Guide Price reflects approximately £79 per sq ft.

Accommodation

Total accommodation approximately 236.09 sq m (2,541 sq ft), with generous floor-to-ceiling height.

Location

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

Tenure / Property Information

Investment Analysis

The property is a vacant 2,541 sq ft commercial unit with recent Class E change of use. The £200,000+ guide equates to approximately £78.71 per sq ft, consistent with the stated approximately £79 per sq ft. The supplied sold comparables are leasehold flats in the same postcode and are not sufficiently comparable to establish a commercial market value or GDV. No commercial valuation, rental evidence or passing income is supplied.

Investment Snapshot

Strategy Recommendation

Do not set a bid based on the supplied evidence alone. Obtain commercial rental and valuation evidence, inspect the unit and establish VAT, legal, fit-out and all additional purchase costs before considering the lot.

Works Required

No physical defects or refurbishment requirements are evidenced. Any future Class E fit-out, alterations or compliance works require inspection, specification and costing; no works allowance can be supported from the supplied evidence.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR assessment is unsupported because there is no commercial rent, GDV, refurbishment budget or refinance valuation evidence. The 125-year lease from 01.04.2021, peppercorn ground rent and stated option to extend to 999 years are positive lease terms on the supplied information, but the legal pack should be reviewed before relying on them.

Buy-to-Let Analysis

BTL-style analysis cannot be completed because no sufficiently specific commercial rental evidence or auctioneer rent estimate is supplied. The unit is vacant, so there is no passing rent or evidenced income stream. VAT and unspecified additional charges would also need to be established before assessing total acquisition cost.

Flip Analysis

A flip appraisal cannot be established. The guide provides an acquisition indication only, while the supplied sold evidence relates to flats rather than this commercial unit. No commercial resale value, fit-out cost, selling allowance or buyer demand evidence is provided.

Investor Risks & Due Diligence

• VAT is applicable, but the applicable amount and treatment are not supplied.

• Additional seller or third-party charges may apply and are not quantified.

• No sufficiently specific commercial rental evidence or passing rent is available.

• The supplied sold comparables are flats and do not establish the value of the commercial unit.

• The unit is vacant and no physical condition or fit-out requirements are evidenced.

• The lease and option to extend should be verified in the legal pack before relying on the stated terms.

Recommendation

Do not set a bid based on the supplied evidence alone. Obtain commercial rental and valuation evidence, inspect the unit and establish VAT, legal, fit-out and all additional purchase costs before considering the lot.

Strategy Rating

Analysis Confidence

The guide, floor area, tenure, vacancy, use and lease summary are supplied, but there is no relevant commercial sold evidence, rental evidence, condition report, EPC, service-cost information, VAT calculation or complete fee schedule.