interestrateripoff Posted April 30, 2014 Share Posted April 30, 2014 http://www.dailymail.co.uk/news/article-2616731/Would-spend-700-000-garages-Storage-space-rented-65-month-market-75-000-fetches-TEN-TIMES-asking-price.html Six garages in Parson's Green, Fulham sell for £700,000 Each had a rental value of £65 a month and the row was valued at £75,000 Developer has bought the properties without planning permission Sellers had carried out feasibility study for two, two-bedroom townhouses Average house price in the area is £615,714 - up nearly £60,000 in a year Auctioneer said it is a 'first' adding it is a seller's market Bit of a risk if you don't get planning permission! Quote Link to comment Share on other sites More sharing options...
@contradevian Posted April 30, 2014 Share Posted April 30, 2014 http://www.dailymail.co.uk/news/article-2616731/Would-spend-700-000-garages-Storage-space-rented-65-month-market-75-000-fetches-TEN-TIMES-asking-price.html Bit of a risk if you don't get planning permission! The people that can pay that much for garages usually get planning permission. There are those that get planning permission, and those that don't. Quote Link to comment Share on other sites More sharing options...
silver surfer Posted April 30, 2014 Share Posted April 30, 2014 I hope he does get planning permission, anything that gets additional houses built in London is a good thing. Quote Link to comment Share on other sites More sharing options...
winkie Posted April 30, 2014 Share Posted April 30, 2014 But will there be enough space to park the car? Quote Link to comment Share on other sites More sharing options...
Venger Posted April 30, 2014 Share Posted April 30, 2014 Looks like someone decided to cash out? Also sold, what appears to be the houses for the garages. Lots 26, 27, and 28. http://www.auctionhouselondon.co.uk/auction-results-list_EIG.php?date=2014-04-24 What's the yield on 27? Quote Link to comment Share on other sites More sharing options...
bomberbrown Posted April 30, 2014 Share Posted April 30, 2014 Looks like someone decided to cash out? Also sold, what appears to be the houses for the garages. Lots 26, 27, and 28. http://www.auctionhouselondon.co.uk/auction-results-list_EIG.php?date=2014-04-24 What's the yield on 27? Good find. WTF! Lot 26 is £557k for what is only a one bedroomed flat? Quote Link to comment Share on other sites More sharing options...
interestrateripoff Posted April 30, 2014 Author Share Posted April 30, 2014 Looks like someone decided to cash out? Also sold, what appears to be the houses for the garages. Lots 26, 27, and 28. http://www.auctionhouselondon.co.uk/auction-results-list_EIG.php?date=2014-04-24 What's the yield on 27? Sold for £1,905,000.742 Fulham Road, Parsons Green, London, SW6 5SF A Semi Detached Building Comprising Two x One Bedroom Flats and One x Four Bedroom Flat Let. All the Flats are Let on Assured Shorthold Tenancies Producing a Combined Income of £42,370.92 per annum I'm guessing the "profit" with this is the 20% that it will go up by YoY!!!! Quote Link to comment Share on other sites More sharing options...
macbeth79 Posted April 30, 2014 Share Posted April 30, 2014 The people that can pay that much for garages usually get planning permission. There are those that get planning permission, and those that don't. True, but i also think planning dept are under pressure to allow houses to be built. Quote Link to comment Share on other sites More sharing options...
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