Garages Adj. 23 Queens Road, Snodland, Kent

Description

A freehold compound of seven garages standing on a plot extending to 0.03 hectares (0.07 acres) in an established residential area close to the busy town centre. The garages have been in the same family ownership for many years.

Accommodation

Compound of seven garages. Garages 1-6 are each currently let at £75 per calendar month, and Garage 7 is let at £17.50 per week.

Location

Established residential area close to the busy town centre.

Tenure / Property Information

Investment Analysis

The property is a freehold compound of seven currently let garages on approximately 0.07 acres. The stated passing income is £525.83 pcm, or approximately £6,310 per annum. The supplied sold comparables are residential houses on Queens Road and are not sufficiently comparable to establish a garage-compound GDV. No garage sales, land valuation or development evidence is supplied. The £100,000–£110,000 guide implies an indicative gross yield of approximately 5.74%–6.31% before fees, voids, maintenance, insurance and tax, using the stated current rents.

Investment Snapshot

Strategy Recommendation

Income-led hold may be considered only after verifying the seven tenancies, rents, legal access, condition and all auction-related costs. Do not rely on residential comparables or assume development potential.

Works Required

No specific repairs, refurbishment requirements or defects are evidenced. Confirm the condition of all seven garages, roofs, doors, locks, services, access arrangements and boundary/security provisions before bidding.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR strategy cannot be reliably assessed. No supported GDV, garage-specific comparables, refurbishment budget, lending terms or refinance valuation evidence is supplied. The current income may support an income-led investment assessment, but refinance proceeds and cash left in cannot be calculated.

Buy-to-Let Analysis

The stated rent is £6,310 per annum: six garages at £75 pcm and one at £17.50 per week. Against the £100,000–£110,000 guide, this produces approximately 6.31%–5.74% gross, or 6.01% at the £105,000 guide midpoint. Net yield cannot be established because fees, maintenance, insurance, voids, management and tenancy terms are not supplied. Verify that all seven occupancies and rents are contractual and up to date.

Flip Analysis

A flip or redevelopment appraisal cannot be supported from the evidence. The residential sold comparables are not directly applicable to the garage compound, and no planning, alternative-use, garage-sale or land-value evidence is provided. Selling costs are also unspecified.

Investor Risks & Due Diligence

• The supplied residential house sales are not directly comparable evidence for the garage compound.

• Administration, non-optional, search and other buyer costs may be payable in addition to the bid price, with amounts unspecified.

• Stamp Duty, Land Registry fees and VAT may also apply, but the applicable amounts are not supplied.

• The stated rents and occupancy require verification from tenancy agreements, rent records and inspection.

• No condition, repair, maintenance or insurance information is supplied.

• No external rental comparables or garage-specific sales evidence is supplied.

• Any alternative use or development potential is unsupported and must not be assumed.

Recommendation

Income-led hold may be considered only after verifying the seven tenancies, rents, legal access, condition and all auction-related costs. Do not rely on residential comparables or assume development potential.

Strategy Rating

Analysis Confidence

Current rent, tenure, garage quantity, site area and guide range are supplied, but there are no directly comparable garage sales, condition details, tenancy documents, fees, planning evidence or refurbishment costs.