>
Garage for sale
Surrey Road, BOURNEMOUTH
£75,000
Surrey Road, BOURNEMOUTH
£75,000
Our Summary
- SUMMARYAUCTION SALE 20 May 2025 - A Portfolio of 15 Garages, Development Potential (STPP), Investment with PotentialDESCRIPTIONA Portfolio of 15 Garages, Development Potential (STPP), Investment with Potential Location:These garages form part of a block of flats within Surrey Road, a popular residential area close to the Branksome area of Bournemouth
- Whilst already providing an excellent investment opportunity with all the garages let in an area of high demand, purchasers may wish to consider future development prospects of redeveloping the garages to create a number of self-contained flats
- All buyers are deemed to rely solely on their own enquiries as to permissions required for development however, the lease will include permission by the freeholder for such conversion subject only to planning and other required permissions being first obtained
- Tenure:To be sold on a new lease for a term of 999 years at a peppercorn ground rent with the lease providing freeholders consent for development subject only to planning permission and building regulation requirements
- AUCTION SALE
Description
A portfolio of 15 garages in Surrey Road, Bournemouth, is being sold at auction on May 20, 2025. The garages are currently let to various tenants at rents ranging from £400 to £600 per annum, with a total current rent of £6,460 per annum. The property has development potential, with the lease allowing for redevelopment into self-contained flats, subject to planning and other required permissions. The seller is seeking a new lease for a term of 999 years at a peppercorn ground rent. The guide price is not a valuation or assessment of value, but rather an indication of the region at which the reserve may be set. The property is an excellent investment opportunity, with potential for future development and a stable income stream from the existing tenants.