Brown & Co Online Auctions says ..

Property Oracle says ..

This property comprises thirty-seven garages arranged across three blocks in Wells-next-the-Sea, Norfolk. The garages are presented as a bulk sale by unconditional auction, with a guide price of £175,000-£200,000. The images reveal brick-built structures with white up-and-over doors; these appear largely in good repair, though showing typical signs of wear and tear for their age. The site includes a considerable expanse of land surrounding the garage blocks. Twenty-six of the garages are currently let, nineteen to a housing association, indicating a potential rental income stream. The location in Wells-next-the-Sea is favorable, offering access to local amenities and schools. While the proximity to the sea is advantageous, the value of the property hinges largely on the potential rental income from the existing tenants and the market demand for garages in the area. The lack of specific details regarding the size of individual garages and the condition of the unlet ones presents some uncertainty. The auction format adds to this risk, making this an investment opportunity that requires careful consideration of the potential returns against the inherent uncertainties.

Therefore, we give this property 6 / 10. *Disclaimer: This is our option and does constitute a recommendation or financial advice. Do your own research. *

Images