Garages at, Margaret Avenue, LONDON, E4 7NP

Description

A corner site comprising 5 garages and forecourt area. The garages are offered with potential for redevelopment, subject to all necessary consents. The artist’s impression included within these particulars is provided for illustrative purposes only and does not represent an approved scheme.

Accommodation

Five garages and forecourt area

Location

Occupying a corner position within a residential location to the North West of Chingford Town Centre. Public transport is provided by local bus routes and Chingford Rail Station. Recreational pursuits include Epping Forest, The Hawk Wood and local parks.

Tenure / Property Information

Investment Analysis

The £55,000 guide relates to a freehold corner site comprising five garages and forecourt. The supplied sold comparables are houses on Margaret Avenue, not garages or approved development sites, so they do not support a garage-site GDV. Redevelopment is only potential and remains subject to all necessary consents; the artist’s impression is expressly not an approved scheme. The £1,800 buyer documentation fee is known, while any seller-charged completion fees are unknown.

Investment Snapshot

Strategy Recommendation

Do not rely on a residential redevelopment or rental strategy without planning due diligence, confirmation of title and access, tenancy details, development appraisal and full Special Conditions. Any bid should be based only on the existing garage use unless consents and costs are independently verified.

Works Required

No refurbishment scope or construction works are evidenced. The potential project would require investigation of planning feasibility, development constraints and all necessary consents before any scheme or works budget can be assessed.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

BRRR is not supportable from the evidence. There is no evidenced refurbishment budget, rent, development GDV or refinance valuation. The one let garage does not provide sufficient income evidence for underwriting.

Buy-to-Let Analysis

BTL analysis cannot be established. One garage is let, but no passing rent or rental evidence is supplied, and the other garages are described as part vacant possession. No rental yield can therefore be calculated.

Flip Analysis

A flip appraisal cannot be calculated. The supplied house sales do not establish the value of this garage site, no planning consent or approved scheme is provided, and no works or selling-cost allowance is evidenced.

Investor Risks & Due Diligence

• Potential redevelopment is subject to all necessary consents and no approved scheme is supplied.

• The artist’s impression is illustrative only and does not represent an approved scheme.

• The supplied sold comparables are houses and are not directly applicable to the garage site.

• One garage is let, but no rent, lease or tenancy terms are provided.

• Seller-charged completion fees may apply and are not quantified.

• No refurbishment, construction or development-cost evidence is supplied.

Recommendation

Do not rely on a residential redevelopment or rental strategy without planning due diligence, confirmation of title and access, tenancy details, development appraisal and full Special Conditions. Any bid should be based only on the existing garage use unless consents and costs are independently verified.

Strategy Rating

Analysis Confidence

The evidence confirms the freehold garage accommodation, guide price and documentation fee, but provides no applicable GDV comparable, rent, planning consent, works scope, valuation or complete completion-cost information.