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Parking Mad! Garage That's For Sale At Over 500K


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#1 rantnrave

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Posted 02 May 2012 - 09:24 AM

Have we all gone parking mad?

The strength of the London market is about to be tested by a double garage in Knightsbridge which is for sale at 525,000 about three times the national average house price, and a new UK record for a garage.

The freehold garage, which is located moments away from Harrods on Rysbrack Street, measures 21' 5" (6.4m) wide by 15' 8" (4.75m) deep. As far as we can see, there are no period features, its quite plain and not enough additional space to put the freezer in or create a room cupboard.

Robert Lewis, associate at W A Ellis, who are handling the sale, said: It is very rare to get a freehold garage in Knightsbridge, so it is exceptionally valuable.

We anticipate interest from those already living within a two to three minute walk of the garage, for example the large houses on Walton Place, where there is no off-street parking.

http://www.estateage...le-at-over-500k

Wonder how many illegal immigrants you'd have to squeeze in there to make this a savvy investment?

#2 interestrateripoff

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Posted 02 May 2012 - 09:28 AM

I'll need to find a few more pennies on the floor to buy that...

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#3 brocken spectre

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Posted 02 May 2012 - 09:31 AM

Even the Rich need somewhere to park.
BS

#4 ScrewsNutsandBolts

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Posted 02 May 2012 - 09:33 AM

The freehold garage, which is located moments away from Harrods on Rysbrack Street, measures 21' 5" (6.4m) wide by 15' 8" (4.75m) deep.

I reckon a two-adult-two-child family would just about fit the 6.4m direction when laid end on end. You should be able to 10 such familes across the 4.75m depth, and assuming a roof height of around 2.4m, perhaps another 8 rows vertically. That comes out at 80 families, so even a tenner a week per family gives an 8% yield. This should increase exponentially as the lower rows get compressed and free up space at the top.

#5 Fatmanfilms

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Posted 02 May 2012 - 09:44 AM

The freehold garage, which is located moments away from Harrods on Rysbrack Street, measures 21' 5" (6.4m) wide by 15' 8" (4.75m) deep.

I reckon a two-adult-two-child family would just about fit the 6.4m direction when laid end on end. You should be able to 10 such familes across the 4.75m depth, and assuming a roof height of around 2.4m, perhaps another 8 rows vertically. That comes out at 80 families, so even a tenner a week per family gives an 8% yield. This should increase exponentially as the lower rows get compressed and free up space at the top.


If the garage is really freehold, it's a plot of land your buying, knock down the garage & build a house.

#6 ScrewsNutsandBolts

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Posted 02 May 2012 - 10:08 AM

Street View

Not quite the grand setting I imagined...

But it is literally round the corner from Harrods... so perhaps convenient for some.

Street View 2

Edited by ScrewsNutsandBolts, 02 May 2012 - 10:11 AM.


#7 Wurzel Of Highbridge

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Posted 02 May 2012 - 10:52 AM

If there ever was to be a sign that London has topped out then this is it.

I am calling top. London will be >10% lower by this time next year. In fact I am going to put this in my signature.
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#8 juvenal

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Posted 02 May 2012 - 12:10 PM

I'll need to find a few more pennies on the floor to buy that...


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#9 Mrs Bear

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Posted 02 May 2012 - 12:31 PM

http://www.estateage...le-at-over-500k

Wonder how many illegal immigrants you'd have to squeeze in there to make this a savvy investment?


Small change to some of the people living around there.
Garage space scarce as hen's teeth and loadsapeople with loadsamoney.




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