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Yep.
As a legit buyer I'd be OK with that. Maybe a bit annoyed if the price was over my daily withdrawal limit from a cashpoint tho as it would mean I'd have to go to the bank, which thinking about it might not be open today what with it being a bank holiday...
If they're determined to PayPal, maybe ask them to bring some photo ID for you to take a picture of and snap them collecting the bike too.
Just sold bike on eBay, for collection only. The buyer paid by Paypal, and wants to collect today. His Paypal shows only a business address which is a rented office space "Business Centre".
According to this there's literally nothing I can do as a buyer to stop a chargeback scam for non-delivery of collected goods when Paypal is the method of payment.
I've refunded the Paypal and sent this:
Does this seem reasonable?