Garage 2, 21-23 Marine Avenue, Leigh-on-Sea, Essex, SS9 2JD

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

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

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

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

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

Analysis Confidence

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.