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anonguest

Lock Up Garages For Sale

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Perhaps I am imagining it and have not really been monitoring this particular market, long enough and thoroughly enough, to be certain.....but I have noted on Rightmove a slight increase in private lock-up garages for sale, usually as part of block of garages (in turn belonging to purpose built flats).

Only a very few appear to be laid out/located in such a way that IF all the garages in the block/row were acquired that the resulting block of land could just possibly be put to residential use. This makes me wonder IF some of the seemingly absurd prices asked for some of these are being driven by this sort of mentality/thinking?

For my part, however, my interest in searching for these is a cheap form of private storage, and nothing else.

Given that these are all, it appears, leasehold and joined to other garages it leads to some questions as to what recurring costs might arise in owning such a lock-up. Would garage owners have to pay a (smaller portion) of the service charges that the surrounding flat owners have to? Who pays for repairs if, say, the roof is damaged in stormy weather or by vandalism? etc etc.

Some of these places, and I say only some, do appear to be at fairly reasonable prices - indeed perhaps even good prices based on likely rental yields. I wonder IF these few are examples of people 'scraping the barrel' looking to raise cash?

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I rented a garage (in a lockup) for around 2 years - it was cheap as chips. £50 a month. And I had two Jetski's in it.

However, I did fear one day I would go to get it, and it's been nicked - although my security methods were extreme.

I had loads of hassle from other residents though, Jet Ski's are quite loud out of the water!

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I've also noticed more of these for sale than normal, often the same garage will be advertised for sale and for rent. i.e. they can't rent it out so have put it on the market.

I think that unless its in a really prime location they can be a lot of hassle for a relatively low income - and there are lots of storage companies now which will be soak up the market for storage space.

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I've also noticed more of these for sale than normal, often the same garage will be advertised for sale and for rent. i.e. they can't rent it out so have put it on the market.

I think that unless its in a really prime location they can be a lot of hassle for a relatively low income - and there are lots of storage companies now which will be soak up the market for storage space.

Ditto. Hence my posting this. Some of these seem keenly priced 'to sell' and in areas/developments that are in no way down market (but I am talking outer/outside London) - which makes me wonder if these are de facto forced sales, to raise cash. Could be a resident who never uses it cos they don't drive (although I have always laughed at how modern garages can barely fit, if at all, many modern cars).

This is just one of many randomly found articles covering buying these as an investment.

http://www.martinroberts.co.uk/?p=1636

But still doesn't expand on what costs/responsibilities are incurred in owning these.

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