Garage at Myrtle Close, Erith, Kent, DA8 3PT

Description

A Vacant Single Storey Lock Up Garage. The lot 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. Numerous open spaces are within easy reach. Transport links are provided by Slade Green rail station.

Tenure / Property Information

Investment Analysis

The supplied sold comparables are terraced houses on Myrtle Close (£345,000–£450,000) and are not suitable evidence for valuing a single lock-up garage. No garage-specific sale evidence, rental evidence or auctioneer rent estimate is supplied, so market value, GDV and investment returns cannot be reliably estimated. The £10,000+ guide plus the £1,800 inclusive-of-VAT admin charge implies a minimum known outlay of £11,800 before any buyer premium, disbursements, refurbishment or other costs.

Investment Snapshot

Strategy Recommendation

Do not bid on the current evidence alone. Obtain garage-specific sale and rental evidence and review the legal pack, title, access, use restrictions and disbursements before considering a cash purchase or hold strategy.

Works Required

Inspect the garage and legal title, confirm access and permitted use, and undertake only evidenced remedial, security or cosmetic works identified during inspection. No specific defects or refurbishment requirements are supplied.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

BRRR cannot be assessed because there is no supported garage GDV, rent, refurbishment budget or refinance valuation. The residential house comparables cannot be used as a proxy for the garage.

Buy-to-Let Analysis

BTL returns cannot be established because no sufficiently specific garage rental evidence or passing rent is supplied. The property is vacant, and the minimum known acquisition outlay at the guide is £11,800 including the stated admin charge, before other fees and disbursements.

Flip Analysis

A flip surplus cannot be calculated because no garage-specific resale evidence or supported GDV is supplied. The terraced-house comparables are not applicable to this asset type, and costs beyond the guide and stated admin charge are not fully known.

Investor Risks & Due Diligence

• No garage-specific sold comparables are supplied; the available house sales are not directly comparable.

• No sufficiently specific rental evidence or passing rent is supplied, so yield cannot be established.

• The £10,000+ guide is exclusive of the stated £1,800 admin charge and any buyer premium or legal-pack disbursements.

• Condition, repair requirements, access arrangements, permitted use and title restrictions are not evidenced in the supplied information.

• Resale demand and exit value for the individual garage cannot be assessed from the supplied evidence.

Recommendation

Do not bid on the current evidence alone. Obtain garage-specific sale and rental evidence and review the legal pack, title, access, use restrictions and disbursements before considering a cash purchase or hold strategy.

Strategy Rating

Analysis Confidence

The property description, tenure, vacancy, guide and admin charge are supplied, but there is no garage-specific valuation evidence, rental evidence, condition detail, EPC, or complete fee information.