Garages & Workshop At 112-114 Gray Street, Bootle, L20 4PR

Description

A rare opportunity to acquire a row of vacant garages with lapsed planning permission for the construction of two residential properties. Planning reference DC/2020/00772 granted permission for a three-bedroom and a two-bedroom home to be built on the site.

Location

Located in the established L20 area, the property benefits from a fantastic variety of amenities including shopping facilities, pubs, restaurants and excellent transport facilities.

Auction Information

Tenure

Leasehold. The legal pack is the definitive source for lease length, title, covenants, service charges, ground rent and special conditions.

Development / Planning

A rare opportunity to acquire a row of vacant garages with lapsed planning permission for the construction of two residential properties. Planning reference DC/2020/00772 granted permission for a three-bedroom and a two-bedroom home to be built on the site.

Investment Analysis

Market Comparables

Use recent Land Registry sold evidence and genuinely comparable current/let rental evidence for the same micro-location, accommodation, tenure and condition. Venmore’s stated rents or rental opinions are retained as auctioneer evidence where supplied; HB screening figures are not a formal valuation.

Proposed Works

HB desktop allowance: £6,000. Scope should be confirmed from inspection, photographs, survey and contractor pricing. Prioritise structure, roof/damp, services, heating/electrics, windows, kitchens/bathrooms, decoration and external works only where relevant to this specific property.

Rental Value

No achieved/current rent has been assumed where the auction particulars do not provide one. Obtain current comparable letting evidence before relying on a BTL appraisal.

Low / Base / High Investment Scenario

Specialist Commercial Analysis

Verify occupational leases, passing rents, rent-review provisions, repairing obligations, VAT status, business rates, service costs and covenant strength. Mixed-use assets should be valued by component and income where appropriate.

Maximum Bid Indicator

Base the maximum bid on verified commercial/residential income and capital value, less buyer fee, works, legal/professional, finance, holding, contingency and required return. SDLT treatment may differ for mixed-use/non-residential purchases and is buyer-specific.

Strategy Recommendation

Income hold or refurbishment/re-letting, with redevelopment only where planning and title support it.

Strategy Rating

Income Hold: ★★★★☆ | Value-Add: ★★★★☆ | Development: ★★★☆☆

Key Risks

Lease length, ground rent, service charge and lender acceptability, planning status and conditions, listed-building constraints, legal-pack special conditions, condition/survey, finance and valuation risk.

Analysis Confidence

Medium for facts reproduced from Venmore’s particulars; low-to-medium for HB desktop works/value screens until inspection, legal-pack review, direct sold/rental comparables and contractor/QS pricing are completed.