Unit 4 Maybrey Works, 4 Haverley Street, Sydenham, London

Description

Ground floor commercial unit forming part of a 159-unit residential scheme. Recent change of use granted to Class E. Total accommodation approximately 189.23 sq m (2,037 sq ft) with generous floor-to-ceiling height. Guide Price reflects approximately £79 psf. VAT is applicable. By Order of Bellway.

Accommodation

Ground floor commercial unit; approximately 189.23 sq m (2,037 sq ft); generous floor-to-ceiling height.

Location

Sydenham is a densely populated South East London suburb located to the north-west of Beckenham and the north-east of Crystal Palace. The property is situated on the east side of Purbeck Gardens to the south of Worsley Bridge Road, 125m from Lower Sydenham Station. Nearby occupiers include Lidl, Crystal Palace FC, Screwfix, GSF Car Parts, King's College Hospital and a nursery. Lower Sydenham Station provides frequent Southeastern services to London Bridge and Charing Cross.

Tenure / Property Information

Investment Analysis

The unit is a vacant Class E commercial property of approximately 2,037 sq ft. The £160,000+ guide equates to approximately £79 per sq ft, as stated by the auction particulars, with VAT applicable. The supplied sold comparables are residential leasehold flats and are not sufficiently relevant to establish a commercial market value or GDV. No commercial sales, rental evidence, formal valuation, service-charge information or buyer/admin fee schedule has been supplied.

Investment Snapshot

Strategy Recommendation

Do not set a bid or proceed on the current evidence alone. Consider only after obtaining a commercial valuation, rental evidence, VAT advice, full legal pack, service-charge details, planning/building information and an inspection-based fit-out budget.

Works Required

No specific defects or refurbishment requirements are evidenced. Any occupier fit-out, compliance works, services installation or subdivision requirements would need to be established through inspection and review of the lease, planning and building information.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

BRRR cannot be quantified because no commercial GDV, rent, refurbishment budget, finance assumptions or refinance valuation evidence is supplied. The 125-year lease from 01.04.2021 has a peppercorn ground rent and an option to extend to 999 years at no premium, but lease terms, service charges and lender acceptability require due diligence.

Buy-to-Let Analysis

A BTL-style analysis cannot be completed because no sufficiently specific commercial rental comparable or auctioneer rent estimate has been provided. There is therefore no supported rent, annual income or yield calculation. The unit is vacant and would require a suitable Class E occupier or other permitted use.

Flip Analysis

A flip appraisal cannot be established. The supplied residential flat sales are not suitable evidence for this commercial unit, while no commercial resale comparables, GDV, works budget, selling costs or VAT treatment on resale have been provided.

Investor Risks & Due Diligence

• VAT is applicable to the lot and the VAT treatment of acquisition and resale is not quantified.

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

• No relevant commercial sold comparables or formal valuation has been supplied.

• The unit is vacant, creating letting and fit-out risk.

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

• Leasehold obligations, service charges, repairing liabilities and lender acceptability require review of the legal pack.

• The suitability and cost of any occupier fit-out or compliance works are unknown.

Recommendation

Do not set a bid or proceed on the current evidence alone. Consider only after obtaining a commercial valuation, rental evidence, VAT advice, full legal pack, service-charge details, planning/building information and an inspection-based fit-out budget.

Strategy Rating

Analysis Confidence

The property description and lease headline terms are available, but there is no relevant commercial valuation evidence, rent, condition assessment, refurbishment budget, buyer/admin fee schedule or detailed cost information.