GUIDE PRICE £65,000-£75,000. A freehold garage site comprising 9 lock-up garages with up and over doors, situated in a popular residential location in Yeovil. The site is arranged as two opposing ranks (5 garages in one and 4 in the other) with a central courtyard and access lane onto Sunningdale Road. A fantastic investment opportunity that may also offer potential for residential development, subject to obtaining the necessary planning consents.
FOR SALE BY AUCTION -
This property is due to feature in our online auction on 29th July 2021 at 6.00pm. Bidding is via proxy, telephone or online remote bidding.
FREEHOLD GARAGE SITE - 9 LOCK-UP GARAGES
A level parcel of land measuring approximately 380 sq m comprising of 9 lock-up garages and a central courtyard. All of the garages are currently let producing circa £4,680 per annum, which is well below market level. We would anticipate market rents in the region of £70 pcm per garage, which would equate to £7,560 per annum.
The site is situated to the rear of Dale Court, a modern block of flats on Sunningdale Road in Yeovil. Easy access is provided to the centre of Yeovil and there is excellent demand for garage rentals in this location.
TENANCY DETAILS -
We are informed by the vendor that all of the garages are currently let at £10 per week.
DEVELOPMENT POTENTIAL -
The site may offer potential for residential development, subject to obtaining the necessary planning consents. Interested parties should make their own enquiries with the local planning department.
LOCAL AUTHORITY -
South Somerset District Council.
BUYER'S PREMIUM -
Please be advised that all purchasers are subject to a £1,000 plus VAT (£1,200 inc VAT) buyer's premium payable upon exchange of contracts.
* GUIDE PRICE -
Guide Prices are provided as an indication of each seller's minimum expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Each property will be offered subject to Reserve Price (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.
RESERVE PRICE -
The seller's minimum acceptable price at auction and the figure below which the auctioneer cannot sell. The reserve price is not disclosed and remains confidential between the seller and the auctioneer. Both the guide price and the reserve price can be subject to change up to and including the day of the auction.
PROXY, TELEPHONE & ONLINE REMOTE BIDDING -
The auction will be held online via live video stream with buyers able to bid via telephone, online or by submitting a proxy bid. You will need to complete our remote bidding form, which is available to download from our website. The completed form, ID (driving licence or passport and a recent utility bill stating the home address of the purchaser) and a cheque/bank transfer for the Preliminary Deposit must be received no later than 24 hours before the date of the auction.
PRELIMINARY DEPOSITS -
The Preliminary Deposit required for each lot you wish to bid for will be calculated based upon the Guide Price as follows:
£1,000 - £50,000: £2,000
£51,000 - £150,000: £5,000
£151,000 and above: £10,000
If your bid is successful, the balance of the deposit monies and Buyer's Premium (£1,200 inc VAT) must be transferred to our client account within 24 hours of the auction sale. If you are unsuccessful at the auction, your Preliminary Deposit will be returned to you.
Maggs & Allen use all reasonable endeavours to supply accurate property information in line with the Consumer Protection from Unfair Trading Regulations 2008. These property details do not constitute any part of the offer or contract and all measurements are approximate.
It should not be assumed that this property has all the necessary Planning, Building Regulation or other consents. Any services, appliances and heating system(s) listed have not been checked or tested. Please note that in some instances the photographs may have been taken using a wide angle lens.
Any site and floor plans provided are for indicative purposes only and should not be relied upon.