Lower Road, Surrey Quays, SE8 - Image 1
Lower Road, Surrey Quays, SE8 - Image 2
Lower Road, Surrey Quays, SE8 - Image 3

Lower Road, Surrey Quays, SE8

London

£750,000

Listed on 06/11/2026

The listing

Property details

Bedrooms
N/A
Type
Not Specified
Area
1820 sqft

Description

The Old Launderette is a vacant freehold comprising two linked Victorian buildings, arranged over basement, ground and first floors, with a substantial rear site. The former ground-floor laundrette and the upper-floor residential accommodation are both vacant, and the property is offered with full vacant possession. Southwark Council granted Prior Approval in November 2023 for the former laundrette to change to a one-bedroom C3 dwelling. The approval is subject to conditions and a statutory completion period, so purchasers should obtain independent planning advice and confirm its current status. It is not a full planning permission for comprehensive redevelopment of the site. The existing buildings could be refurbished or converted, with extension or phased development also among the options described by the vendor. Earlier design work explored a nine-unit residential concept, but this is indicative only and does not have full planning permission. Alternative residential, commercial or mixed-use approaches would require planning and any other necessary consents. Indicative plans and planning background material are available from Chestertons. The property is on Lower Road, with Surrey Quays and Canada Water stations within reach. The listing also notes the wider Canada Water regeneration programme and the Surrey Quays station upgrade. Any purchaser should verify the title, planning history and feasibility of their proposed use or development.

WHOTS analysis

Our WHOTS verdict

An internal assessment of the opportunity to acquire, improve and create value.

52out of 100
Grade DWeak opportunity

Confidence: LOW

At £750,000, this is a notably low-cost entry on a floor-area basis: about £412/sqf against a local average of £619/sqf. The vacant freehold combines two interlinked Victorian buildings with a substantial rear site, offering a sizeable canvas for someone prepared to take on a heavy project. The frontage is visibly worn and the rear is heavily overgrown, while the submitted images provide no view of the interiors.

The listing cites prior approval for a one-bedroom change of use, but its current status and conditions need checking; the wider redevelopment concept is indicative, not full planning permission. The low price is a clear acquisition advantage, though the overall opportunity remains weak because the scale of work is substantial and renovation economics are not established.

Key opportunities

  • Reimagine the two interlinked Victorian buildings for a residential, commercial or mixed-use strategy, subject to the relevant consents.
  • The substantial rear site creates scope to rethink the wider layout and make better use of the property’s footprint.
  • Vacant possession and the cited prior approval for a one-bedroom change of use provide a starting point to investigate, subject to confirming its current status and effect.

Key risks

  • The worn frontage, covered display openings and heavily overgrown rear site point to a heavy programme of clearance and rebuilding; allow time and budget for a substantial project rather than a cosmetic refresh.

Unlock the full analysis

Sign up to see the refurb profile, below-market value, yields, and local market trends for this and every other property that has them.

Sign up free

Already have an account? Sign in

Interested in similar properties?

Create an alert and we'll notify you when similar renovation opportunities are listed.

Sign in to create alert

Map

Location

Lower Road, Surrey Quays, SE8
Loading map...

Transport

Nearest stations

  • Surrey Quays Rail Station

    0.2 miles

    Train · Surrey Quays

  • South Bermondsey Rail Station

    0.5 miles

    Train · Bermondsey

  • Canada Water Underground Station

    0.6 miles

    Underground · Canada Water

  • Canada Water Rail Station

    0.6 miles

    Train · Canada Water

Contains public sector information from NaPTAN (DfT) licensed under the Open Government Licence v3.0.

Finance

Mortgage calculator

Illustrative repayments based on the asking price, not a mortgage offer.

£
£
£
%
%
years

Current average 2-year fixed rate is 5.13%

Current average variable rate is 6.58%

Monthly Repayments
£3,064
Based on a loan of £562,500 over 30 years at 5.13% interest

These results are estimates and are only intended as a guide. Make sure you obtain accurate figures from your lender before committing to any mortgage. Your home may be repossessed if you do not keep up repayments on a mortgage.

Tax

Stamp duty calculator

Indicative tax based on the asking price and the options you select.

Services

Next steps

Explore services to help you with this property purchase.

Get help with this property

Financing, surveys and more – choose a service and we’ll connect you with our trusted partners.