Garages 1 & 2 New Road, Folly Gate, Devon, EX20 3AB

Description

Two garages located in a block within a small Devon housing estate. Accessed via an up and over door to the front. The garages do not have power, but offer a good opportunity for storage being located on the A386 with Okehampton nearby.

Accommodation

Two garages

Location

Located within a small Devon housing estate on the A386, with Okehampton nearby.

Tenure / Property Information

Investment Analysis

The supplied sold comparables are residential houses on New Road and are not sufficiently comparable to two garages. No garage sale evidence, rental evidence or formal valuation is supplied, so GDV and investment value cannot be established. The guide is £15,000–£20,000. Known buyer premium and administration charges total £1,800, before any additional search, legal, seller-cost reimbursement or transfer charges.

Investment Snapshot

Strategy Recommendation

Proceed only after confirming garage-specific market value, demand, title/access rights, permitted use and all auction costs. On the supplied evidence, there is no sufficiently supported BTL, BRRR or flip case.

Works Required

No specific defects are reported. The garages have no power; any electrical installation would require separate specification, costing and legal/technical due diligence. Otherwise, the evidence supports only general inspection and confirmation of the up-and-over doors, access and title rights.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR strategy cannot be assessed because there is no supported GDV, rent, refurbishment budget or refinance value. The known acquisition charges are £1,800, with further possible charges unspecified.

Buy-to-Let Analysis

BTL analysis cannot be established because no sufficiently specific rental evidence or auctioneer rent estimate is supplied. The absence of power may also affect storage demand, but no unsupported rent or demand assumption is made.

Flip Analysis

A flip analysis cannot be supported. Residential house comparables do not establish the resale value of two garages, and no selling costs or garage comparables are supplied.

Investor Risks & Due Diligence

• No directly comparable garage sales evidence is supplied.

• No rental evidence or passing rent is available.

• The garages do not have power.

• Buyer premium and administration charges total £1,800, with further possible charges unspecified.

• Title, access, use restrictions and any rights affecting the garage block are not evidenced.

• Residential house comparables are not reliable evidence of garage value.

Recommendation

Proceed only after confirming garage-specific market value, demand, title/access rights, permitted use and all auction costs. On the supplied evidence, there is no sufficiently supported BTL, BRRR or flip case.

Strategy Rating

Analysis Confidence

The evidence confirms the garage description, freehold tenure, guide range and two known charges, but provides no directly comparable sales, rent, GDV, works budget or complete cost schedule.