Car park area, Drapers Fields, Coventry, West Midlands, CV1 4AF

Description

Vacant car park located on the corner of St Nicholas Street and Drapers Fields. Comprising 19 spaces within secured gated access, plus 2 additional adjacent spaces separated by vehicle access. Potential for various uses subject to relevant consents. Site size approximately 0.18 acres.

Accommodation

19 car parking spaces within secured gated access, plus 2 additional adjacent spaces; site size approximately 0.18 acres.

Location

Positioned on the corner of St Nicholas Street, with gated access off Drapers Fields.

Tenure / Property Information

Investment Analysis

The evidence identifies a vacant freehold car park comprising 19 secured spaces plus 2 adjacent spaces on approximately 0.18 acres. No completed sale comparables, rental evidence, passing income, planning information or formal valuation are supplied. Accordingly, GDV, market value, rental value and investment yield cannot be reliably estimated. At the guide, the stated purchase price is £20,000 plus VAT, with known buyer and administration charges of £2,400 including VAT; other possible costs are unspecified.

Investment Snapshot

Strategy Recommendation

Do not bid on investment assumptions alone. Consider only after obtaining specialist commercial parking valuation, evidence of achievable income, confirmation of VAT and all auction costs, and planning or legal advice on any alternative use.

Works Required

No physical repair or refurbishment works are evidenced. Any future change of use, redevelopment, access alteration or other works would be subject to relevant consents and has not been costed.

Rental & Market Context

Potential BRRR Position

BRRR cannot be underwritten from the supplied evidence. There is no supported rental income, GDV, refurbishment budget or refinance valuation. The guide plus VAT and known buyer and administration charges total £26,400 before any additional auction or legal costs.

Buy-to-Let Analysis

A BTL yield cannot be established because no sufficiently specific rental comparable or auctioneer rent estimate is provided. The asset is a car park rather than residential accommodation, and income would depend on achievable parking demand, pricing, occupancy and operating costs, none of which are evidenced.

Flip Analysis

A flip surplus cannot be calculated because there are no completed sale comparables, supported GDV, planning position, development proposal, selling allowance or exit value. Potential alternative uses are expressly subject to relevant consents.

Investor Risks & Due Diligence

• No supported market value or GDV evidence.

• No rental evidence or passing income, so yield cannot be established.

• Guide price is stated plus VAT, and additional search, seller, legal and transfer costs may apply.

• Any alternative use is subject to relevant consents.

• The two additional spaces are adjacent and separated by vehicle access, so their practical use and legal position require confirmation.

• Vacant parking income would be exposed to demand, occupancy and pricing risk.

Recommendation

Do not bid on investment assumptions alone. Consider only after obtaining specialist commercial parking valuation, evidence of achievable income, confirmation of VAT and all auction costs, and planning or legal advice on any alternative use.

Strategy Rating

Analysis Confidence

The supplied evidence confirms the physical description, tenure, vacancy and stated charges but contains no valuation comparables, rental evidence, planning information, operating costs or exit evidence.