Garages Rear Of 126 High Street, Lydd, Romney Marsh, Kent

Description

A group of 23 lock-up garages with forecourt area situated to the rear of 126 High Street. The garages are in three blocks, one of 14 lock-ups, one of seven lock-ups and a pair of lock-ups in an L-shaped configuration. All are let at £60 or £65 per calendar month.

Accommodation

23 lock-up garages in three blocks: one of 14 lock-ups, one of seven lock-ups and a pair of lock-ups in an L-shaped configuration.

Location

Situated to the rear of 126 High Street, Lydd, Romney Marsh, Kent. The site extends to 0.09 hectares (0.23 acres).

Tenure / Property Information

Investment Analysis

The £150,000+ guide equates to approximately £6,522 per garage before fees and costs. The stated rents imply gross income of £1,380–£1,495 pcm, or £16,560–£17,940 annually. This produces an indicative gross yield on the guide of 11.04%–11.96%, before voids, maintenance, insurance, management, tax and acquisition costs. The supplied sold comparables are nearby residential properties and are not sufficiently comparable to value the garage investment. No supported GDV, capitalisation rate or specific garage valuation evidence is provided.

Investment Snapshot

Strategy Recommendation

Consider as an income-hold investment only after verifying the rent roll, tenancy documentation, condition, title and all auction-related costs. Do not rely on residential comparables for a resale valuation.

Works Required

No specific defects or required works are evidenced. Before bidding, verify the condition of all three garage blocks, roofs, doors, forecourt and services, together with any required maintenance or compliance works.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR assessment cannot be completed reliably because no supported GDV, refurbishment budget, valuation evidence or finance costs are provided. The existing rental income may support an income-hold strategy, subject to verifying tenancy terms, rent collection and property condition, but refinancing capacity cannot be calculated.

Buy-to-Let Analysis

The investment is currently let, with each of the 23 garages stated to produce £60 or £65 pcm. Total gross rent is therefore £1,380–£1,495 pcm, equivalent to £16,560–£17,940 annually. The gross yield on the £150,000 guide is approximately 11.04%–11.96%, but the exact passing rent cannot be calculated without the number of garages at each rent. Net yield cannot be established because operating costs, voids, insurance, management and buyer fees are not supplied.

Flip Analysis

A flip appraisal is not supported. The supplied comparables are residential properties rather than lock-up garage investments, and no garage GDV, works budget or selling-cost allowance is available. Resale surplus and maximum bid therefore remain unquantified.

Investor Risks & Due Diligence

• The exact annual passing rent is unknown because the number of garages let at £60 and £65 pcm is not provided.

• Administration, search, other non-optional fees, Stamp Duty, Land Registry fees and VAT may be payable, but amounts are unspecified.

• No tenancy or lease documentation, rent arrears information, deposit information or expiry terms are supplied.

• No specific condition, repair, maintenance or compliance information is provided for the garage blocks or forecourt.

• No sufficiently specific external rental comparable or garage-specific sold comparable is supplied.

• The gross yield calculations are based on the £150,000 guide and exclude operating costs, voids, management, insurance, tax and acquisition costs.

Recommendation

Consider as an income-hold investment only after verifying the rent roll, tenancy documentation, condition, title and all auction-related costs. Do not rely on residential comparables for a resale valuation.

Strategy Rating

Analysis Confidence

The guide price, number of garages, tenure, occupancy and rent bands are supplied, allowing a guide-price gross-yield range. Confidence is limited by the unknown rent split, absent operating and buyer costs, lack of garage-specific comparables, and no GDV or condition evidence.