Garage at Chestnut Court, 14 Lancaster Road, South Norwood, London, SE25 4AH

Description

A Vacant Single Storey Lock Up Garage. The property comprises a single storey lock up garage.

Location

The garage is situated on a residential road close to local shops and amenities. The open spaces of South Norwood Lake & Grounds are within easy reach. Transport links are provided by Crystal Palace station rail station.

Tenure / Property Information

Investment Analysis

The only potentially relevant evidence is a £19,000 2015 Land Registry sale recorded as “Other” at the same address. The three identical entries may represent duplicate reporting and do not establish a current market value. The £292,500 and £315,000 sales are flats/maisonettes and are not comparable to the garage. No current garage valuation, rental evidence or sufficiently specific comparable is supplied.

Investment Snapshot

Strategy Recommendation

Proceed only as a cautious owner-use or storage/parking acquisition if legal-pack review and an independent current garage valuation support the price. Do not rely on BTL, BRRR or flip returns.

Works Required

No refurbishment works are evidenced. Allow for inspection and confirmation of the garage’s condition, access, use restrictions and any lease requirements through the legal pack; costs cannot be estimated from the supplied evidence.

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. No current GDV, rent, refurbishment budget or refinance valuation is available. The approximately 141-year lease is noted, but service charges, restrictions and other lease terms remain unconfirmed.

Buy-to-Let Analysis

BTL analysis cannot be established because no sufficiently specific rental comparable or auctioneer rent estimate is supplied. The asset is a garage rather than evidenced residential accommodation, and any storage or parking income would require separate support.

Flip Analysis

A flip surplus cannot be calculated. The historical £19,000 “Other” sale at the same address is insufficient to establish a current resale value, and no supported works, selling allowance or current garage comparables are supplied.

Investor Risks & Due Diligence

• No current market-value evidence specific to the garage.

• The only potentially relevant comparable is a 2015 “Other” sale and may be duplicated in the supplied records.

• No rental evidence or passing income is provided.

• The £1,800 administration charge is payable, while disbursements and other legal-pack charges are unknown.

• Lease restrictions, service charges, access arrangements and permitted use are not supplied.

• The garage is vacant and no income is evidenced.

Recommendation

Proceed only as a cautious owner-use or storage/parking acquisition if legal-pack review and an independent current garage valuation support the price. Do not rely on BTL, BRRR or flip returns.

Strategy Rating

Analysis Confidence

Evidence includes the guide, administration charge, tenure and lease term, but lacks a current garage valuation, rental evidence, condition assessment, service-charge information and quantified additional completion costs.