Looking for an investment? Eight garages are for sale by auction
- Credit: Brown & Co
Eight garages arranged in two blocks are to go under the hammer with Brown & Co later this month, in what auction manager Trevor Blythe describes as an "unusual lot".
The lot is situated off Lynewood Close in Cromer and will be part of the firm's next online auction, scheduled for August 18. It's priced at a guide of £55,000-£65,000.
"It's an investment opportunity but it's eight garages, seven currently let, producing just under £6,000 per annum with the potential to increase the rental income by letting the empty unit," says Mr Blythe.
The garages are currently let under licence at various prices, with the potential for a new investor to increase rents.
Lynewood Close is located on the outskirts of Cromer, where there are a wide range of facilities. Brown & Co also advise that the successful bidder is likely to have to bear the cost of any replacement lock on the vacant garage.
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For more information, contact Brown & Co on 01603 598257.
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