Car Parking Spaces, Grants Walk, St. Austell, Cornwall, PL25 5PX

Description

A run of nine car parking spaces situated on Grants Walk in St. Austell town centre.

Accommodation

Nine car parking spaces.

Location

Grants Walk, St. Austell town centre, Cornwall.

Tenure / Property Information

Investment Analysis

The property comprises nine freehold car parking spaces with vacant possession. The supplied sold comparables are buildings on Fore Street, including 'Other' and terraced properties, and are not reliable evidence of the value of town-centre parking land. The only rental evidence is one advertised asking rent of £60 pcm, which is not an achieved rent and cannot safely be extrapolated across all nine spaces. A supported GDV or market value cannot therefore be established.

Investment Snapshot

Strategy Recommendation

Treat as a specialist parking-income investment only if title, access, demand and achievable licence income are verified. Do not bid on a flip or BRRR basis; set a price only after confirming whether the £400 historical rent is per space or for all spaces and allowing for all buyer costs.

Works Required

No physical refurbishment works are evidenced. Undertake legal and practical due diligence on title, access, boundaries, parking rights, surfacing, signage, demand and the ability to grant or renew parking licences. No works cost allowance has been included.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

BRRR is not supported by the evidence. There is no supported GDV, no reliable portfolio rent, no refurbishment requirement and no basis for a 75% refinance calculation. The asset would require validation of demand and licence income before any refinance strategy could be considered.

Buy-to-Let Analysis

BTL-style income analysis cannot be established reliably. The spaces have historically been rented on licences at £400 per annum, but the evidence does not clarify whether this is for each space or the group. The £60 pcm evidence is a single advertised asking rent, not achieved rent or a confirmed rent for each space. The guide-based purchase cost is £30,000 before any unknown administration, other non-optional fees, taxes or transaction costs.

Flip Analysis

A flip appraisal cannot be supported because no parking-space sale comparables or evidence-based GDV are supplied. The Fore Street building sales are not appropriate direct comparables. A resale surplus cannot be calculated, particularly with unknown auction-related and selling costs.

Investor Risks & Due Diligence

• The £400 per annum historical licence income is not clearly stated as per space or for all nine spaces.

• The £60 pcm rental evidence is an advertised asking rent for one parking space, not achieved rent or confirmed demand for all nine spaces.

• The supplied sold comparables are buildings and are not direct parking-space comparables.

• Administration, other non-optional fees, Stamp Duty, Land Registry fees and VAT may be payable but are not quantified.

• Title, access, boundaries, parking rights, surfacing condition and licence arrangements are not evidenced.

• Vacant possession means existing historic licence income may not continue after purchase.

Recommendation

Treat as a specialist parking-income investment only if title, access, demand and achievable licence income are verified. Do not bid on a flip or BRRR basis; set a price only after confirming whether the £400 historical rent is per space or for all spaces and allowing for all buyer costs.

Strategy Rating

Analysis Confidence

There are no direct parking-space sales, no confirmed passing rent, ambiguity over the historical £400 rent, no auction fee amounts and no evidence supporting a GDV or refinance value.