Garages G1-G12 at Block A, Pilgrims Way, Andover, Hampshire, SP10 5HP

Description

A triangular site comprising a block of 12 single-storey lock-up garages arranged within a predominantly residential area. The site extends to approximately 7,751 sq ft. The property may be suitable for residential development subject to obtaining the necessary planning permissions and consents.

Accommodation

12 single-storey lock-up garages

Location

Situated on Pilgrims Way, surrounded by residential developments. Public transport links include Andover Mainline Railway Station and local bus services. Road links include the A303 and A34. Shopping amenities are available in Andover Town Centre, including the Chantry Centre. Recreational facilities include Charlton Lakes, Anton Lakes Nature Reserve and Andover Recreation Ground.

Tenure / Property Information

Investment Analysis

The £90,000 guide equates to approximately £7,500 per garage before the £1,800 inclusive-of-VAT documentation fee. The supplied Land Registry comparables are nearby terraced houses (£175,000–£238,000) and are not sufficiently comparable to value this garage site or establish a residential development GDV. Residential development is only a possibility subject to planning and other consents; no unit count, scheme, valuation or planning evidence is supplied.

Investment Snapshot

Strategy Recommendation

Treat as a planning-led land and garage investment only after reviewing title, tenancies, special conditions and planning feasibility. Do not rely on the nearby house comparables to justify a bid.

Works Required

No specific physical defects or condition issues are evidenced. Any works would depend on the intended strategy and could include clearance, repair or adaptation of the garages, but no allowance can be quantified from the supplied evidence. Residential redevelopment would require planning permission and other necessary consents.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR assessment is not supportable because there is no evidence-based GDV, refurbishment budget, supported rent, planning consent or refinance valuation. The three tenanted garages and predominantly vacant status require tenancy and vacant-possession due diligence.

Buy-to-Let Analysis

BTL analysis cannot be established because no sufficiently specific rental evidence or auctioneer rent estimate is supplied. Three garages are tenanted, but their passing rents, lease terms and tenancy details are unknown. The £1,800 documentation fee and any seller-charged completion fees would also affect total cost.

Flip Analysis

A flip or development resale surplus cannot be calculated. The nearby sold comparables are terraced houses rather than garages or approved development plots, and no planning scheme, unit mix, build cost, professional cost or selling allowance is supplied.

Investor Risks & Due Diligence

• Residential development is only subject to obtaining necessary planning permissions and consents.

• Three of the twelve garages are tenanted, with no rents or lease terms supplied.

• The supplied sold comparables are terraced houses and may not support a garage-site or development valuation.

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

• The £1,800 inclusive-of-VAT documentation fee is payable, and the seller may charge additional completion fees under the special conditions.

Recommendation

Treat as a planning-led land and garage investment only after reviewing title, tenancies, special conditions and planning feasibility. Do not rely on the nearby house comparables to justify a bid.

Strategy Rating

Analysis Confidence

The evidence confirms the site area, garage accommodation, tenure, guide and nearby house sales, but omits rent, condition, planning status, development scheme, costs, valuation and seller fees.