Garage 4 New Road, Folly Gate, Okehampton, Devon, EX20 3AB

Description

Vacant single garage situated within a block, offering storage accessed by an up and over door to the front.

Accommodation

Single garage within a block.

Location

Folly Gate, Okehampton, Devon.

Tenure / Property Information

Investment Analysis

The guide is £9,000–£10,000 plus fees. The supplied sold comparables are houses, not garages, so they do not support a garage valuation. The £1,800 combined buyer premium and admin charge is known, while further possible search, seller, legal and transfer charges are unspecified. No garage rental evidence or passing rent is supplied.

Investment Snapshot

Strategy Recommendation

Proceed only after obtaining garage-specific sale and rental evidence and confirming all auction and legal charges. On the supplied evidence, avoid bidding based solely on the guide price.

Works Required

No refurbishment works are evidenced. The asset is described as a vacant single garage with storage accessed through an up-and-over door; condition and door operation should be verified before bidding.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

BRRR is not supportable from the evidence. There is no garage GDV, rental income, refurbishment budget or refinance valuation, and the supplied residential house sales are not comparable.

Buy-to-Let Analysis

BTL viability cannot be established because no garage-specific rent, achieved rental evidence, operating costs or demand evidence is supplied. The £1,200 pcm rental listing relates to a three-bedroom detached bungalow and is not applicable to this garage.

Flip Analysis

A flip calculation cannot be established because no garage-specific resale evidence, GDV or selling-cost allowance is supplied. The house comparables should not be used for this asset.

Investor Risks & Due Diligence

• The supplied sold comparables are houses and may not represent garage values.

• No garage-specific rental evidence is supplied, so income and yield cannot be assessed.

• Additional search, seller, legal and transfer charges may apply but are not quantified.

• The physical condition of the garage and up-and-over door is not evidenced.

• The asset is vacant and no occupancy or income history is supplied.

Recommendation

Proceed only after obtaining garage-specific sale and rental evidence and confirming all auction and legal charges. On the supplied evidence, avoid bidding based solely on the guide price.

Strategy Rating

Analysis Confidence

The property description and known auction charges are clear, but there is no garage-specific valuation, rental evidence, condition report, comparable evidence or complete cost schedule.