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Garage 2, 21-23 Marine Avenue, Leigh-on-Sea, Essex, SS9 2JD
Marketed by:
Dedman Gray
103 The Broadway, Thorpe Bay, Southend-on-Sea SS1 3HQ, UK
01702 311111
Freehold Lock-up Garage, Leigh-on-Sea
Garage 2, 21-23 Marine Avenue, Leigh-on-Sea, Essex, SS9 2JD
Unsold
£23,000+
• Single lock-up garage
• Freehold
Description
A freehold single lock-up garage located in a block within a residential area with a potential rental income of £75 to £100 per month. The unit is fitted with an up-and-over door. It is considered that the unit would suit either owner occupiers or buy to let investors wishing to rent the unit out.
Accommodation
Single lock-up garage with an up-and-over door.
Location
Located in an established residential area of Leigh-on-Sea.
Tenure / Property Information
Tenure |
Freehold |
Services |
No power or light connected. |
Investment Analysis
No relevant completed garage sales are supplied. The residential house comparables on Marine Avenue are not suitable evidence for valuing this lock-up garage. The £23,000 guide is therefore the only supplied pricing benchmark. Buyer/admin fees are unquantified.
Investment Snapshot
Guide Price |
£23,000 plus fees |
Estimated Monthly Rent |
£75 – £100 pcm |
Estimated Annual Rent |
£1,050 pa |
Gross Yield on Guide |
4.6% |
Gross Yield on Project Cost |
4.6% |
Strategy Recommendation
Consider only as a small rental or owner-occupier garage investment if local demand, block arrangements and all fees are verified. Do not rely on the supplied house comparables for valuation.
Works Required
No refurbishment works are identified in the supplied description. Allow for inspection and routine maintenance only, subject to survey.
Rental & Market Context
HB Estimated Market Rent |
£75 – £100 pcm |
Auctioneer Estimated Rent |
£75 to £100 per calendar month |
|
Garage 2, 21-23 Marine Avenue, Essex... Property - — £100 pcm — Advertised asking rent |
£23,000 |
Sold Comparables
The following completed sales were identified within approximately 5 miles:
|
51, Marine Avenue, Leigh-On-Sea, Southend-On-Sea, Ss9 2jd |
£700,000 |
|
15, Marine Avenue, Leigh-On-Sea, Southend-On-Sea, Ss9 2jd |
£755,000 |
|
11, Marine Avenue, Leigh-On-Sea, Southend-On-Sea, Ss9 2jd |
£720,000 |
|
27, Marine Avenue, Leigh-On-Sea, Southend-On-Sea, Ss9 2jd |
£800,000 |
|
45, Marine Avenue, Leigh-On-Sea, Southend-On-Sea, Ss9 2jd |
£725,000 |
Potential BRRR Position
Base Project Cost |
£23,000 |
A BRRR analysis cannot be completed because no garage-specific GDV evidence or refinance valuation is supplied. The residential house comparables are not appropriate substitutes.
Buy-to-Let Analysis
The supported rent range is £75–£100 pcm, equivalent to £900–£1,200 annually. Against the £23,000 guide, this indicates approximately 3.91%–5.22% gross yield, before unquantified fees, maintenance, insurance, voids and tax. The £100 pcm figure is an asking rent and the auctioneer figure is an estimate, not passing rent.
Flip Analysis
A flip analysis cannot be supported because no completed garage sales, garage GDV or selling-cost allowance is supplied. House comparables cannot establish resale value for this asset.
Investor Risks & Due Diligence
• No relevant completed garage sales are supplied for valuation.
• Buyer, administration and other fees are unquantified.
• Rental figures are asking or estimated rents rather than achieved passing rent.
• Occupancy and lease information are not supplied.
• Maintenance, insurance and rights or obligations relating to the garage block are not evidenced.
Recommendation
Consider only as a small rental or owner-occupier garage investment if local demand, block arrangements and all fees are verified. Do not rely on the supplied house comparables for valuation.
Strategy Rating
HB Rating |
★★★☆☆ |
Analysis Confidence
Confidence |
Low-Medium |
Rent evidence and the guide price are supplied, but there are no relevant garage sold comparables, no quantified fees, no passing rent and no GDV evidence.
Auction Details :
Dedman Gray
Auction Date :
08/10/26
Lot Number :
042
Property Location:
Garage 2, 21-23 Marine Avenue, Leigh-on-Sea, Essex, SS9 2JD
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