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Garage  For Sale Guide Price £84,000

10 x Garages at Cartwright Lane, Fairwater, Cardiff CF5 3DB

An opportunity to acquire 10 garages currently let set within a secure gated lane. The garages appear to be of brick and block construction beneath a pitched roof covering. The garages are fully let to established tenants, who have been in occupation for varying lengths of time. We are advised that the property is currently generating £1261 per quarter, therefore producing £5044 per annum. However, in our opinion, there is scope for considerable betterment by increasing some of the rents to market rent. (please refer to the legal pack for confirmation of occupancy and individual income breakdown per garage). The property may also offer scope for development, subject to all usual consents.

The garages can be located at the no through road end of Llanbedr Road and sit to the right hand side behind the gates. Fairwater is located in the western side of the city and benefits from good transport links to the City Centre, A48 and the M4.

Viewings & Further Information

External Only, access can be obtained to enter through the gated lane upon request through the auctioneers office on 02920 555198 or 02920 475184, the garages are currently managed by our partner agent Auction House Wales.

Tenure

See Legal Pack

Administration Fee

1.2% inc VAT of the purchase price, subject to a minimum of £1200 inc VAT, payable on exchange of contracts.

Buyer's Premium Fee

£600 inc VAT payable on exchange of contracts.

Disburstments

Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.

Local Info

Location

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Please note: This is for illustrative purposes only. The above calculator should not be relied upon when making financial decisions. Please seek advice from a specialist financial provider.

IMPORTANT NOTICE FROM HERN & CRABTREE

Descriptions of the property are subjective and are used in good faith as an opinion and NOT as a statement of fact. Please make further specific enquires to ensure that our descriptions are likely to match any expectations you may have of the property. We have not tested any services, systems or appliances at this property. We strongly recommend that all the information we provide be verified by you on inspection, and by your Surveyor and Conveyancer.

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Fees

Refundable Holding deposit - Capped at 1 weeks rent

Security Deposit - Capped at 5 weeks rent for annual rental under £50,000, or 6 weeks rent for annual rental over £50,000

Rent - The agreed monthly rent

Changes to tenancy - Capped at £100 inc VAT

Early termination charge - Not exceeding the landlord’s financial losses

Late payment of rent - Interest of 3% above BoE base rate for each day the rent is late, once it is 14 days overdue

Replacement keys - Reasonable costs or give the tenant the option to purchase themselves

Utilities, council tax, communication services, TV Licence etc - Tenants own responsibility unless otherwise stated in contract