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6 Garages to the rear of 23 Spencer Road, Paignton, Devon, TQ3 3SZ
Marketed by:
Auction Estates Limited
Cavendish Rd, Carlton, Nottingham NG4 3DZ, UK
01157 844 600
6 Garage Investment – Devon
6 Garages to the rear of 23 Spencer Road, Paignton, Devon, TQ3 3SZ
Sold
£23,000+
Key Features
- An opportunity to acquire 6 freehold lock-up garages located in the heart of Paignton. ERV when fully let at market rent of £7,200 pa An opportunity to acquire 6 freehold lock-up garages
- Located in the heart of Paignton within a well-established & quiet residential area
- ERV when fully let at market rent of £7,200 pa An opportunity to acquire 6 freehold lock-up garages located in the heart of Paignton. ERV when fully let at market rent of £7,200 pa
- Located within the sought-after Foxhole Estate
- Situated in a well-established & quiet residential area
- In the popular seaside town of Paignton
Description
An opportunity to acquire 6 freehold lock-up garages located in the heart of Paignton. ERV when fully let at market rent of £7,200 pa An opportunity to acquire 6 freehold lock-up garages
Accommodation / Key Property Details
- Located in the heart of Paignton within a well-established & quiet residential area
- ERV when fully let at market rent of £7,200 pa An opportunity to acquire 6 freehold lock-up garages located in the heart of Paignton. ERV when fully let at market rent of £7,200 pa
- Located within the sought-after Foxhole Estate
- Situated in a well-established & quiet residential area
- In the popular seaside town of Paignton
- Circa 15-minute drive to Torquay
- Good road connectivity, 1.5 miles from the A380 & A385
- Circa 1 Mile from the Paignton Beach & Pier
- Comprising 2 blocks of garages extending to circa 810 sq ft
Location
6 Garages to the rear of 23 Spencer Road, Paignton, Devon, TQ3 3SZ
Tenure
Freehold; verify title, lease terms, rights, covenants, easements and special conditions in the legal pack.
Development / Planning
Scope for potential future development (STP)
Auction Information
| Auctioneer | Auction Estates |
| Auction Date | Thursday 8 October 2026 at 2:30pm |
| Venue | Nottingham Racecourse, Colwick Park, Nottingham, NG2 4BE |
| Lot Number | Sold Prior / not allocated in scrape |
| Status | Sold Prior |
| Guide Price | £23,000+ |
| Buyer’s Premium | £1,800 inc VAT at the guide-price band |
| Additional Fees | Seller may charge additional completion fees; check Special Conditions in legal pack |
Investment Analysis
Investment Snapshot
| Guide Price | £23,000+ |
| Asset Type | Garage / Investment |
| Tenure | Freehold |
| HB Desktop Works Allowance | £3,000 |
| Buyer’s Premium | £1,800 inc VAT |
| Guide + Works + Buyer Premium | £27,800 |
| Passing Rent / ERV | £7,200 pa (source particulars) |
| Gross Yield on Guide | 31.3% |
| HB Base Value / GDV Screen | £80,000 |
| 75% Refinance Screen | £60,000 |
Market Comparables
The auction particulars are the primary factual source for this sheet. HB value screens are desktop estimates only. Before bidding, verify recent Land Registry sales or specialist commercial/land transactions matching the same micro-location, tenure, size, condition and use.
Proposed Works
HB desktop allowance: £3,000. Confirm scope through inspection, survey and contractor/QS pricing.
Rental Value
£7,200 pa (source particulars), equivalent to a 31.3% gross yield on the guide price.
Low / Base / High Investment Scenario
| Low | £70,000 |
| Base | £80,000 |
| High | £90,000 |
Specialist Commercial Analysis
Verify occupational leases/licences, rent collection, repairing obligations, VAT/business rates, service costs, covenant strength, access and title. ERV is not the same as achieved rent.
Maximum Bid Indicator
Capitalise verified sustainable income at an appropriate yield and deduct buyer premium, works, legal/professional, finance, holding, contingency and required return. SDLT/tax treatment is buyer-specific.
Strategy Recommendation
Income hold/value-add where passing rent and covenant support it; redevelopment only where planning/title evidence supports the alternative use.
Strategy Rating
Income Hold: ★★★★☆ | Value-Add: ★★★☆☆ | Development: ★★☆☆☆
Key Risks
Planning/consent conditions and implementation status; Property is recorded as Sold Prior; Legal-pack special conditions and seller fees; Physical condition and valuation/finance risk.
Analysis Confidence
High for facts directly reproduced from the Auction Estates particulars; medium/low for HB desktop works/value assumptions until direct comparable research, inspection, survey, legal-pack review and contractor/QS pricing are completed.
Auction Details :
Auction Estates Limited
Auction Date :
08/10/26
Lot Number :
Property Location:
6 Garages to the rear of 23 Spencer Road, Paignton, Devon, TQ3 3SZ
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