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Description
Portfolio of four lock up garages in sought after districts of East Kilbride. Located on terraces of custom built units within residential areas. Potential rental return of £5,760 per annum. Freehold.
The properties comprises single storey brick and concrete construction garage premises surmounted by flat roof and up and over metal door access. Garages located within quiet car parking areas.
Popular Residential Districts. Local rental demand within the area is strong for garages. Three of the lock up garages have written leases and are managed by an established letting agent.
Densely populated residential districts with a mixture of buy-to-let and owner occupancy properties. Secure and easily accessible lock up garages within communal resident's parking areas.
East Kilbride is widely regarded as one of the most successful “new towns” in the UK with a population of 75,000 persons and has become Scotland’s 5th largest town.
Portfolio of Self Contained Lock up Garages in East Kilbride. Opportunity to acquire a portfolio of four self contained garages within recognised residential districts of East Kilbride. Full Ownership. Freehold Sale. Three of the garages have written leases and managed by letting agents. Full portfolio RENTAL potential is £480 per month per garage or £5,760 per annum. Rental potential for full occupancy would present a rental yield of over 16% per annum. Garage 1 - 31G Juniper Avenue, East Kilbride, and forms the end garage with a new door on a row of seven garages that face onto the main road with parking area/access to the front (Garage G). Rented £120 per week. Garage 2 - 57 Ballochmyle, East Kilbride, G74 3RT (Vacant) and is the fourth garage from the left within a row of seven garages and faces onto the main road into the estate with parking area and access to the front. Garage 3 - 10A Stepehenson Place, East Kilbride, G75 0AQ Located on a terrace of custom built units within residential area. The garage comprises a single storey garage premises brick and concrete construction surmounted by flat roof with roller up and over door. Rented £120 per week. Garage 4 - 3A Trinidad Green, East Kilbride, G75 8PE is in a corner positioned with access on row of five self contained garage premises. Roller door. Rented £120 per week. The popular town of East Kilbride offers a range of high street shopping amenities, entertainment venues, restaurants and sports and recreational facilities. This portfolio represents a super investment for an individual starting out on a garage investment business, or for an investor looking to increase their portfolio of garage stock.
Tenancy Details
Type of Agreement: Basic LeaseLength: Annual
Rent: £5,760 per year / £480 per month
Yield: 16% (approx)
Tenant: Private Individual
Notes: Three garages have written leases and managed by letting agents. Potential rental return of £5,760 per annum.
Maps & Location
Map Street View SatelliteEast Kilbride offers a range of primary and secondary schooling, and South Lanarkshire College is located in the town. From the historic village to a thriving leader in commerce and technology, East Kilbride is one of Scotland's largest and newest towns enjoying a central locale with ample bus and rail services and motorway links providing access in and around the central belt. The town also offers bus and rail services connecting to Glasgow City Centre and other destinations throughout west and central Scotland, as well as access to Central Scotland's motorway networks.
Document Downloads
Pricing Information & Bidding
Opening Bid: £35,000
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Terms & Conditions of Sale
- 10% Deposit (Minimum £3,000)
- Standard Completion (Unless specified differently in any Special Conditions of Sale)
- Buyers Fee = 2% of Sale Price (Minimum £3,250 + vat)
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STANDARD TERMS OF SALE are 4 week completion with 1 week extension. Sellers can request an earlier or later completion date which will be detailed in any Special Conditions of Sale for this lot. Buyers must satisfy themselves prior to bidding as to the terms on offer for each property which may differ in deposit amount, completion and buyers fee.
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General Terms & Conditions of Sale
Lot Specific Terms - Portfolio of Four Lock Up Garages, East Kilbride