Advice on buying a garage in an auction

[Foreign Student]

I am considering buying a garage for storage space and use as a workshop for building models. An example of something under =A310k (auction guide price) is here:

have some questions...

...about buying garages:

1. How well do garages keep their value over the years?
2. Will it be difficult to get a landline, plumbing, gas and electricity in?
3. What is the likelihood of planning permission being granted a few years down the line to convert a garage into a studio flat?
4. What can go wrong with a garage and how badly can the future sale price be affected?

...about buying in auctions:

1. Is it worth getting a surveyor to look at the property?
2. Generally, will the guide price be close to the sale price?
3. If planning permission to convert the garage into a dwelling could be secured, how much will it raise the subsequent auction price by?

Thanks for any advice.

[NT]

so far so good, assuming you replace it by end of its life

yes

not much. If you do you'll need to rebuild it from foundations up.

asbestos construction scares people off. It collapses. IT gets broken into repeatedly, burnt, etc.

no, but if you've this little basic knowledge, perhaps

hugely. IOW its not likely.

NT

[Owain]

Depends on their location and the long-term requirements for off- street parking.

Slightly more difficult than a house as you won't have a postcode and will probably be treated as non-domestic premises. There may be restrictions in the lease about using it as anything other than a place to store a domestic motor vehicle.

In general, conversion of brownfield site to residential use is viewed favourably by planners. But they usually want off-street parking in any new development so unless there is a forecourt associated with it, unlikely to be a suitable development project.

Building Regulations on the other hand will probably demand a complete demolish and rebuild.

Unlikely to be worth getting a surveyor in because the purchase price is so low, and you're unlikely ever to be able to raise a mortgage against it.

It might be significant, IF it produces a viable building plot.

As storage goes, beware of dampness and difficulty insuring contents.

Owain

[Adrian]

NT gurgled happily, sounding much like they were saying:

Wild guess - you didn't look at the link, did you?

[Mike Barnes]

Go to another auction the day/week/month before, just to observe.

[tim.....]

The price of a garage is determined by its rental value. As long as it remains rentable it will hold its value

It will be difficult and expensive. If these things are currently not supplied "in the road" then getting them put in will cost several times the cost of the garage.

If it's surrounded by other garages, no chance at all (and who would live there if you did?). Unless that is, you knock them all down and replace with a new build

This is a very difficult decision. Usually you will win say, about 10% of the properties that you are interested in. Getting them all surveyed will cost more than just taking the hit if you get it wrong. But if you are only buying one property .....

Varies a lot. 20% over is quite common. For a popular lot, 150% over is not unknown. Some properties don't even reach the guide.

What I can say is that the guide price usually fairly takes into account the condition. A low than expected guide suggest that there is something wrong with the property.

[NT]

I didnt assume the OP would only contemplate one possible garage to purchase. The odds are high that the OP might have to look for another.

NT

[Cynic]

Gas may be difficult (but not out of the question). Electricity is not normally a problem (many garages have electric lights), and BT will put a line to just about anywhere if they have lines nearby. Heck, you will see portacabins used on road construction sites that have electricity and telephones. If gas is needed, the OP might like to think about using bottled gas.

[Jonathan Bryce]

Guide prices are usually about right, on average. If you get two determined people in the auction room, it could go for a lot more. If nobody who is interested turns up that day, it might go for a lot less.

[Robert Laws]

Wow, what an amazing property. it's not just a garage is it?

This one can only go up I woul dthink.

No, it fronts the public highway so I guess those services are nearby.

You ask the council abou the local plan to see how that area is designated.

not much if the structure is sound.

maybe given all that masonry.

i could imagine this one going for much much more than a normal garage.

Robert

[Paul C. Dickie]

In message , Foreign Student writes

I'd doubt that one could be converted, as it would need adequate glazing.

Why not sell it to the local Al Q'ueda cell as a bomb factory?