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Garage for sale
Development Opportunity/Lock-Up Garages, Crofthill Road, Glasgow, Lanarkshire, G44 5NN
£80,000
Development Opportunity/Lock-Up Garages, Crofthill Road, Glasgow, Lanarkshire, G44 5NN
£80,000
Our Summary
- FOR SALE BY ONLINE AUCTION THURSDAY 23rd of OCTOBER 2024 AT 9
- ***Fantastic opportunity***To acquire a potential development site which could be developed into 4 in a block flats or 2 semi detached houses, with a gross development value in excess of £500k, subject to planning***If kept as garages, potential rental value of £12,000 per annum with the 6 garages (4 of the garages currently rented, other 2 available for rent) each delivering £2,000 per annum, giving an impressive yield of 15% at guide price*** ***A rare opportunity to purchase a site which could cater to a variety of uses including redevelopment into houses, subject to planning or, kept as 6 garages which could be let out*** RECENT NEARBY PROPERTY SALES: - 250 Crofthill Road, 2 bedroom, £137,850 (Oct'23) - 41 Crofthill Road, 2 bedroom, £128,000 (Jul'24) - 44 Crofthill Road, 3 bedroom, £127,000 (Nov'23) ***The garages are set in a residential pocket in the highly sought after area of Croftfoot in Glasgow's Southside***Brilliant investment opportunity *** ***Glasgow's southside is a popular area of Glasgow and hosts various cafes, restaurants, parks and schools including Croftfoot primary school, with King's Park Secondary School nearby)***Kings park is a 4 minute drive away (1
Description
This property is a potential development site in the highly sought-after area of Croftfoot in Glasgow's Southside, which could be redeveloped into 4 flats or 2 semi-detached houses, subject to planning. Alternatively, it could be kept as 6 garages, which are currently rented, generating a potential annual income of £12,000. The site is located near recent nearby property sales, which have achieved prices of up to £137,850. The area offers a range of amenities, including cafes, restaurants, parks, and schools, as well as good transportation links, with a railway station and several bus routes nearby. The guide price for the property is £80,000, making it a fantastic investment opportunity with potential for significant returns.