Canonmoor Street, Hereford, Herefordshire

Description

An opportunity to purchase 17 garages spread across two blocks. The plot sits within a residential area close to the city centre of Hereford. The site is approximately 0.2 acres. Prospective purchasers should be aware that the seller intends to impose restrictions on future development of the property; the precise wording and extent are currently being finalised and will be set out in the legal documentation.

Accommodation

17 garages across two blocks

Location

City centre location in Hereford, within a residential area close to the city centre.

Tenure / Property Information

Tenure	Freehold
Occupancy	Vacant possession
Services	No services connected, according to the vendors.

Investment Analysis

The supplied completed sales are of terraced and semi-detached houses on Canonmoor Street at £169,500–£325,000, so they do not provide a reliable valuation for 17 garages and approximately 0.2 acres. The advertised £1,600 pcm rent relates to a four-bedroom property and is not applicable evidence for garage income. No garage rents, condition report, development appraisal, or formal land valuation is supplied. The seller’s intended restrictions on future development are material and their wording is not yet available. Accordingly, no supported GDV, refurbishment allowance, rental yield or maximum bid can be established beyond the stated £40,000–£50,000 guide range.

Investment Snapshot

Guide Price

£40,000-£50,000

Strategy Recommendation

Treat as a specialist garage-income or landholding opportunity only after reviewing the title, proposed development restrictions, condition and achievable garage rents. Do not rely on the supplied residential comparables or four-bedroom rental evidence.

Works Required

No specific works are supported by the evidence. Verify the condition, security, doors, roofs, surfacing, drainage, utilities and access before bidding; these are due-diligence items rather than evidenced defects or costed works.

Rental & Market Context

Cobb Amos Estate Agents | Property To Rent — 4 bed — — Advertised asking rent

£1,600 pcm

Sold Comparables

The following completed sales were identified within approximately 5 miles:

15, Canonmoor Street, Hereford, Herefordshire, Hr4 9jj 2025-12-19 · Terraced · Freehold	£183,000
28, Canonmoor Street, Hereford, Herefordshire, Hr4 9jj 2025-04-01 · Terraced · Freehold	£220,000
2, Canonmoor Street, Hereford, Herefordshire, Hr4 9jj 2025-01-16 · Terraced · Freehold	£169,500
13, Canonmoor Street, Hereford, Herefordshire, Hr4 9jj 2024-06-10 · Terraced · Freehold	£185,000
22, Canonmoor Street, Hereford, Herefordshire, Hr4 9jj 2023-10-20 · Semi-Detached · Freehold	£325,000

Potential BRRR Position

A BRRR assessment cannot be supported without a garage rental appraisal, condition and works budget, operating costs, finance assumptions, or a defensible post-refurbishment valuation. Refinance may also be affected by the development restrictions and the non-residential nature of the asset; obtain the legal wording and specialist lending advice.

Buy-to-Let Analysis

A BTL assessment cannot be completed because no passing or advertised rent for the garages is supplied. The available £1,600 pcm evidence is for a four-bedroom rental and is not relevant. Confirm achievable rent per garage, occupancy, operating costs and any access or management arrangements.

Flip Analysis

The residential sold comparables do not establish a resale value for the garage blocks or land. A flip appraisal therefore cannot be calculated. Any resale strategy requires confirmation of the legal restrictions, market demand, condition and an independent valuation of the existing garages and permitted use.

Investor Risks & Due Diligence

• The seller intends to impose restrictions on future development, with precise wording and extent not yet supplied.

• The residential sold comparables are not directly comparable to garages or garage land.

• No rent evidence for the 17 garages is supplied, so income and yield are unverified.

• The condition of the garages, blocks, access, surfacing, drainage, security and services is not evidenced.

• No buyer premium, administration charge or other acquisition costs are supplied.

• The asset is being offered with vacant possession, so no existing income is evidenced.

Recommendation

Treat as a specialist garage-income or landholding opportunity only after reviewing the title, proposed development restrictions, condition and achievable garage rents. Do not rely on the supplied residential comparables or four-bedroom rental evidence.

Strategy Rating

HB Rating

★★☆☆☆

Analysis Confidence

Confidence

Low

The evidence confirms the asset type, freehold tenure, vacant possession, guide range and location, but provides no garage rent, condition, costs, comparable garage sales, formal valuation or final development-restriction wording.