Garages & Gardens @ Bennetts Lane, Camden, Bath

Description

A Freehold rank of 3 single garages with enclosed private gardens to the rear and off street parking spaces to the front. Sold with vacant possession. The garages require modernisation having been vacant for a number of years. The lot includes the land immediately to the rear of the 3 garages with pedestrian access via a gate from Dover Place. The land and garages may offer long-term development potential, subject to gaining the necessary consents.

Accommodation

3 single garages, private gardens to the rear, and 3 off-street parking spaces to the front

Location

Bennetts Lane is situated in an elevated position close to the centre of Bath, with The Circus, Brock Street and The Royal Crescent nearby. Milsom Street and Bath city centre offer cultural and leisure facilities, shops and restaurants. Bath Spa train station provides access to London Paddington and the M4 Junction 18 is approximately 10 miles distant.

Tenure / Property Information

Investment Analysis

The supplied sold comparables are detached cottages on Bennetts Lane and are not sufficiently comparable to a rank of three garages with gardens and parking. The £50,000–£75,000 guide is the only stated market pricing evidence. No supported GDV can be established because development consent, site area, condition detail and comparable garage/land sales are unavailable. The £1,800 buyer premium including VAT should be allowed for if purchased.

Investment Snapshot

Strategy Recommendation

Treat as a speculative freehold garage, parking and garden land purchase rather than an underwritten BTL or flip. Proceed only after planning, title, access, condition and garage-by-garage rental due diligence, with a bid based on a separately supported valuation.

Works Required

Modernisation of the three garages is required, as they have been vacant for a number of years. The evidence does not specify the required scope, construction condition, services or costs. Any alteration or redevelopment would require the necessary consents.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

BRRR cannot be underwritten from the evidence. There is no supported GDV, quantified refurbishment budget, finance-cost allowance or confirmed rent for the complete lot. Refinance and development outcomes would depend materially on consents and the condition of the vacant garages.

Buy-to-Let Analysis

BTL analysis cannot be reliably established. The auctioneer indicates approximately £150 pcm for the garage, subject to consents, but it is unclear whether this applies to one garage or the whole lot. No sufficiently specific external rental comparable was identified, and refurbishment costs are unknown.

Flip Analysis

A flip appraisal cannot be completed because the detached cottage comparables are not suitable for valuing this garage-and-garden lot, no development consent is evidenced, and works and selling costs are unknown. The stated long-term development potential is speculative and subject to the necessary consents.

Investor Risks & Due Diligence

• The three garages require modernisation after being vacant for a number of years, but the scope and cost of works are unknown.

• Any development potential is expressly subject to obtaining the necessary consents; no consent is evidenced.

• The £150 pcm auctioneer estimate is stated for 'the garage' and is subject to consents, so whole-lot income is unconfirmed.

• The supplied sold comparables are detached cottages and do not provide a reliable valuation basis for this lot.

• The lot includes rear land with pedestrian access via Dover Place, but the evidence does not confirm the extent of rights, title or access arrangements.

• The £1,800 buyer premium including VAT is payable on exchange and must be added to acquisition costs.

Recommendation

Treat as a speculative freehold garage, parking and garden land purchase rather than an underwritten BTL or flip. Proceed only after planning, title, access, condition and garage-by-garage rental due diligence, with a bid based on a separately supported valuation.

Strategy Rating

Analysis Confidence

The lot description, tenure, vacancy, guide range and buyer premium are supplied, but there are no comparable garage or land sales, no site dimensions, no quantified works, no confirmed whole-lot rent and no planning evidence.