Garage at Chestnut Court, 14 Lancaster Road, South Norwood, London

Description

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

Accommodation

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 relevant completed-sale evidence is a £19,000 Land Registry sale at the same address in May 2015, recorded as “Other” and repeated three times. The £292,500 and £315,000 sales are flats and are not applicable. The 2015 garage evidence is too dated to establish a current GDV, while the £10,000+ guide is not a valuation.

Investment Snapshot

Strategy Recommendation

Do not bid on investment yield assumptions. Consider only after inspecting the garage and reviewing the legal pack, including title, lease covenants, service charges, transfer fees and any restrictions on use or resale.

Works Required

No refurbishment defects or required works are stated. Confirm condition, access, door, roof, security, services and any lease restrictions through inspection and the legal pack before bidding.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR assessment is not supportable without a current garage valuation, rent, refurbishment budget, lease terms, service charges, restrictions and finance assumptions. The known £1,800 buyer administration charge is payable in addition to the purchase price; other legal-pack charges may also apply.

Buy-to-Let Analysis

No sufficiently specific rental evidence or auctioneer rent estimate is supplied, so rent and yield cannot be established. The property is vacant and leasehold, with approximately 141 years stated to remain.

Flip Analysis

Potential resale cannot be quantified reliably. The only relevant evidence is the same-address £19,000 completed sale from 2015, which is too old to establish a current resale value. No supported selling-cost allowance is available.

Investor Risks & Due Diligence

• No current market valuation or sufficiently recent garage comparable is supplied.

• No rental evidence or auctioneer rent estimate is available, so yield cannot be calculated.

• The £1,800 administration charge is known, but additional legal, search, seller-cost, transfer and disbursement charges may apply.

• Lease covenants, service charges, transfer requirements and permitted use are not provided.

• Physical condition, access, security and suitability for letting or resale are not evidenced.

Recommendation

Do not bid on investment yield assumptions. Consider only after inspecting the garage and reviewing the legal pack, including title, lease covenants, service charges, transfer fees and any restrictions on use or resale.

Strategy Rating

Analysis Confidence

Evidence is limited to a vacant garage description, lease summary, guide price, one dated and duplicated relevant sale record, and no rental, condition, current comparable or legal-cost detail.