Parking Space No.26 at South Steps Car Park, Prince Consort Road, Kensington, London, SW7 2BL

Description

A single car parking space situated beneath the Royal Albert Hall benefitting from a cage and racking on the back wall. Vacant.

Accommodation

Approx. 189 sq ft

Location

The parking space is situated on Prince Consort Road in South Kensington, close to the Royal Albert Hall, Imperial College London, Hyde Park and a wide range of shops, restaurants and amenities. South Kensington Underground Station is within walking distance, providing Circle, District and Piccadilly Line services. Numerous bus routes also operate nearby.

Tenure / Property Information

Investment Analysis

The £70,000 guide is the only directly relevant price evidence supplied. The sold comparables are high-value leasehold flats in the same postcode, not parking spaces, so they do not support a GDV or market-value estimate for this asset. No lease terms, parking-specific sales, rental evidence or auctioneer rent estimate are provided. Buyer fees are unspecified and VAT may apply.

Investment Snapshot

Strategy Recommendation

Treat as a specialist owner-user or investment purchase only after reviewing the Special Conditions, title and lease documentation. Do not bid beyond the guide without parking-specific value evidence and a complete fee/VAT assessment.

Works Required

No refurbishment works are evidenced. The space is described as vacant and already benefits from a cage and rear-wall racking; verify their condition, rights and permitted use before bidding.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

BRRR is not underwritable from the supplied evidence. There is no supported GDV, rent, refurbishment budget or lease information, and a parking space may have limited refinance demand depending on title and rights.

Buy-to-Let Analysis

A BTL yield cannot be established because no sufficiently specific rental comparable or auctioneer rent estimate is supplied. Ownership, lease length, service charges, insurance and letting restrictions are also unknown.

Flip Analysis

A flip surplus cannot be calculated. The supplied completed sales concern flats rather than parking spaces, while buyer fees, possible VAT, seller charges and resale value are unknown.

Investor Risks & Due Diligence

• The supplied sold comparables are flats and are not suitable direct evidence for parking-space value.

• Buyer fee is unspecified and VAT may apply; further seller charges may also be payable.

• Lease, title, service-charge, insurance, access and use details are not supplied.

• No achieved or advertised parking rental evidence is available.

• The value and usability of the cage and racking, and any associated rights, are not independently evidenced.

Recommendation

Treat as a specialist owner-user or investment purchase only after reviewing the Special Conditions, title and lease documentation. Do not bid beyond the guide without parking-specific value evidence and a complete fee/VAT assessment.

Strategy Rating

Analysis Confidence

Only the guide price, description and location are supplied; there is no parking-space comparable evidence, rent, lease information, buyer-fee amount, works budget or supported GDV.