Garages G1, G2, G4, G6 - G12, G16-G19 at Duncan Court, Andover, Hampshire

Description

Fourteen single storey lock up garages situated on a plot of land measuring approximately 4,210 sq ft. Potential for development subject to obtaining all relevant consents.

Accommodation

Fourteen single storey lock up garages.

Location

The garages are situated on a residential road close to local shops and amenities. The open spaces of Vigo Park are within easy reach. Transport links are provided by Andover rail station.

Tenure / Property Information

Investment Analysis

The supplied sold comparables are terraced houses at Duncan Court, not garages, so they do not support a garage market value or development GDV. The 4,210 sq ft plot and stated development potential are noted, but no planning consent, scheme, valuation, garage rents or land comparables are supplied. The £50,000+ guide should therefore not be treated as an established market value.

Investment Snapshot

Strategy Recommendation

Treat as an income asset only after verifying the actual rents, occupational arrangements, title and legal pack. Do not bid on a development thesis without planning advice and a supported residual valuation.

Works Required

No specific condition defects or refurbishment requirements are evidenced. Obtain inspection and legal-pack details, verify the garage occupation and carry out only evidenced maintenance or repairs. Any redevelopment would require the relevant planning and other consents.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR assessment cannot be completed because there is no supported acquisition value beyond the auction guide, no rental figure, no refurbishment budget and no refinance valuation. The residential house comparables cannot be used as a garage GDV. Any development-led refinance is dependent on obtaining relevant consents.

Buy-to-Let Analysis

The garages are stated to be fully let, but no passing rent or sufficiently specific rental evidence is supplied. Consequently, annual income, yield and debt-service performance cannot be established. The £1,800 administration charge is known, while buyer premium and other disbursements remain unspecified.

Flip Analysis

A flip appraisal is unsupported. The house sales evidence is not comparable to fourteen lock-up garages, and no consented development scheme, build cost, resale evidence or selling allowance is provided. The guide plus the known £1,800 administration charge would be at least £51,800 before the unknown buyer premium, disbursements and any works, but this is not a complete project cost.

Investor Risks & Due Diligence

• No passing rent or sufficiently specific rental comparables are supplied, preventing income and yield analysis.

• Development potential is expressly subject to obtaining all relevant consents; no planning position or scheme is supplied.

• The supplied sold comparables are terraced houses and are not direct evidence for garage or development value.

• Buyer premium, disbursements and other possible legal or transfer charges are not quantified.

• The condition and required maintenance of the fourteen garages are not evidenced.

• Fully let occupancy is stated, but the occupational terms and legal arrangements are not supplied.

Recommendation

Treat as an income asset only after verifying the actual rents, occupational arrangements, title and legal pack. Do not bid on a development thesis without planning advice and a supported residual valuation.

Strategy Rating

Analysis Confidence

The evidence confirms fourteen freehold garages, a 4,210 sq ft plot, stated full letting and the auction guide, but provides no rent, condition, planning position, comparable garage sales, GDV, works budget or complete fee schedule.