- Freehold block of 6 garages
- Central town location close to the high street
- All garages currently tenanted with total income of £4,320 per annum
- Ideal for parking and storage
- Potential residential development subject to any necessary consent
- Rare opportunity
Land for sale in Devon
Freehold block of 6 garages
Central town location close to the high street
All garages currently tenanted with total income of £4,320 per annum
Ideal for parking and storage
Potential residential development subject to any necessary consent
Rare opportunity
FOR SALE BY INFORMAL TENDER - GUIDE PRICE: £100,000
All bids are to be submitted by the deadline on our bidding forms (see note below).
A rare opportunity to purchase a block of 6 single garages situated in a central and convenient location in the centre of the town, literally a stone's throw from the high street, and at the end of a no-through road. The site occupies an area of approximately 141.93m2 (0.035 acres) and is situated at the very end of Greenclose Road. In front of the garages is a hardstanding which provides further off-road parking spaces.
At present, all 6 of the garages are let to different tenants with monthly rents of between £50 - £70. In total, £360 per month is collected thus equating to £4,320 per annum. All garages are let on a basic tenancy agreement, details of which are available upon request. The garages are to be sold with the tenants insitu.
The garages are located in a predominantly residential area of the town where parking can be difficult. The garages also back onto the High Street so owning the block would be a particularly valuable asset for any of the immediate neighbours. Clearly, the garages are suitable for parking and storage.
There is some potential for residential development of the site if desired. The current owners have previously submitted a pre-application enquiry to the Local Authority and a copy of their response is also available upon request.
Informal Tender
The Garage Block and Adjacent Land is being offered for sale by informal tender at a guide price of £100,000. The deadline for the submission of bids is Friday 10th May 2024 at 12 noon. All bids MUST BE submitted on our formal bidding forms that are available upon request from our office. Full terms as to how bids are handled will be provided with the form. Bids are to be sealed in an envelope or sent back via email and clearly marked so to ensure that the value of the bid remains unknown until the deadline. Any bids received after the deadline will not be considered. Our vendor does reserve the right to accept an offer prior to the deadline if they choose to. Equally, the vendor doesn't have to accept any offers if they do not meet expectations.
Applicants are advised to proceed from our offices on foot in a westerly direction taking the pedestrian lane into Greenclose Road immediately to the left of The Lantern Community Centre. Proceed down Greenclose Road for 20 metres where the garage block will be found on the left hand side.
BY CAR: Proceed from our offices in an easterly direction taking the first left in to Northfield Road. Continue to the bottom of Northfield Road and at the traffic lights turn left on to Wilder Road. Continue along Wilder Road taking the second left hand turn in to Greenclose Road immediately opposite Lidl Supermarket. Continue to the top of the road where the garages will be found on the right hand side.
Important information
This is a Freehold property.
Property Ref: 55837_ILF240078
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