Garage 1 & Garage 2, 247 Elms Road, Eastbourne, BN21 3PS

Description

A rare opportunity to acquire 2 x freehold garages and basement store room in Eastbourne. Access to the garages is off Elms Road. The auctioneers have not been able to inspect the garages internally to confirm the condition or size of the garages and basement store room.

Accommodation

2 x garages and basement store room

Location

The garages are situated on the west side of Elms Road, opposite the car park. The property is within easy access of local amenities on Terminus Road and the seafront. The Beacon Shopping Centre and train station are just over half a mile away. Location Pin (What3Words): forces.luxury.marker.

Tenure / Property Information

Investment Analysis

The £50,000 guide is not independently supported by the supplied evidence. The sold comparables relate to a different property type or historic transactions and cannot establish the value of these garages. The rental evidence concerns flats and is not applicable. No GDV, rental value or refurbishment budget can therefore be reliably calculated.

Investment Snapshot

Strategy Recommendation

Proceed only after reviewing the legal pack, licence income and completing an internal inspection; otherwise avoid bidding based solely on the guide.

Works Required

No specific works can be supported. Internal inspection is required to assess condition, size and any necessary repairs to the garages and basement store.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

BRRR analysis is unsupported because GDV, income, condition, refurbishment costs and refinance value are unavailable. Internal inspection and legal-pack review are essential before considering acquisition.

Buy-to-Let Analysis

BTL yield cannot be established because no garage rent or passing income is provided. Flat rental listings are not suitable evidence for garage rents. Licence terms and current payments require review in the legal pack.

Flip Analysis

A flip surplus cannot be calculated because there is no supported GDV, refurbishment allowance or selling-cost allowance. The supplied comparables are not sufficiently relevant.

Investor Risks & Due Diligence

• Internal condition and size are unconfirmed.

• Individual licence agreements and income require legal-pack verification.

• Additional search, seller, legal and transfer costs may be payable.

• No directly comparable garage valuation evidence is supplied.

• Access is stated to be from Elms Road, but the legal position should be verified.

Recommendation

Proceed only after reviewing the legal pack, licence income and completing an internal inspection; otherwise avoid bidding based solely on the guide.

Strategy Rating

Analysis Confidence

The garages were not inspected internally, their dimensions and condition are unknown, no rent is supplied, and the comparable and rental evidence is not directly applicable.