1-5 Waylett Place, London SE27 9AF
- PROPERTY TYPE
Commercial Property
- SIZE
Ask agent
Key features
- An industrial site with further development potential for multiple dwellings or modernisation of the existing site (Subject to the requisite consents)
- Site measures 792sqm (8,525sqft) and comprises a mixture of uses, including vehicle repair workshops and a hand car wash
- Internal accommodation extends 4,941sqft (NIA)
- The property is subject to 4 x separate lease agreements (all holding over)
- Asset management potential to improve the passing rent (currently let on a low £9 per a sqft)
- There is £160,508 in arrears, the benefit of these will be passed to the purchaser
- Investment let at £44,464 p.a.
Description
StrapLine
Auction Sale - 08/04/2025A freehold site currently arranged as as light industrial and open yard space amounting to an approx. 792sqm (8,525sqft) with development potential for multiple dwellings on site (subject to the requisite consents)
Description
Freehold industrial site (0.19 acres), comprising collection of outbuildings, light industrial and open yard space.
There are currently 5 x commercial units, extending 4,941sqft (NIA). Units range in size 570 to 1,948 sqft and are currently occupied by MOT workshops and a hand car wash.
The site is being sold with 4 x occupational leases, which are all holding over. With historical agreements in place, the rent is low and producing just £44,464pax (£9 psf on NIA).
Potential to either increase existing income, whilst pursuing PP or to secure VP and occupy for one’s own use. Opportunity will appeal to investors, developers (residential or storage) and owner occupiers.
Location
Property is situated on Waylett Place, directly behind Norwood Road in the London Borough of Lambeth.
Norwood Road (A215) is a prominent through road in south London, connecting areas like Hearne Hill, West Norwood and Tulse Hill.
The site is surrounded by a range of uses, including retail to the front, a new build residential scheme (4-7 storeys) directly behind (51-units) and a new 4-storey office scheme adjacent.
West Norwood train station is just 0.3 miles to the south of the site, providing access to National Rail services directly into Central London.
Transport
West Norwood train station - National Rail services
Tenancy
The property is subject to 4 x separate lease agreements (all holding over)
Please refer to the legal pack
Please note that the current tenants are in arrears of £160,508 and the benefit of these will be passed on to the incoming purchaser
Accommodation
There are currently 5 x commercial units, extending 4,941sqft (NIA). Units range in size 570 to 1,948 sqft and are currently occupied by MOT workshops and a hand car wash.
Planning
Part or the whole of the property maybe suitable for redevelopment subject to consents. All enquiries in this regard should be directed to the local authority, Lambeth Council.
Website:
1-5 Waylett Place, London SE27 9AF
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- West Norwood Station0.2 miles
- Tulse Hill Station0.3 miles
- West Dulwich Station0.7 miles
Notes
Disclaimer - Property reference 185-15731. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Savills Auctions, London. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.
Auction Fees: The purchase of this property may include associated fees not listed here, as it is to be sold via auction. To find out more about the fees associated with this property please call Savills Auctions, London on 020 3909 6715.
*Guide Price: An indication of a seller's minimum expectation at auction and given as a “Guide Price” or a range of “Guide Prices”. This is not necessarily the figure a property will sell for and is subject to change prior to the auction.
Reserve Price: Each auction property will be subject to a “Reserve Price” below which the property cannot be sold at auction. Normally the “Reserve Price” will be set within the range of “Guide Prices” or no more than 10% above a single “Guide Price.”
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