The garages form part of a block of 11 garages, which all appear to have been constructed at the same time in the early 1970s. Only garages 1 – 7 are for sale. 6 of the garages are let and one is vacant.
The garages are constructed of concrete panels with corrugated cement asbestos with a profiled flat roof and metal up and over doors. We understand there is no water or electricity supply to the garages.
Externally, access is via a gravel drive directly from Pentreath Avenue. We understand the other 4 garages are owned by a third party.
Location
The block of garages is located to the rear of Pentreath Court at the end of Pentreath Avenue, a cul-de-sac approached from St John’s Road.
The garages are accessed from a gravel drive between 26 & 27 Pentreath Avenue.
The town centre, mainline station and A3 at the Cathedral junction are within easy reach.
Terms
The garages are held under a long lease, originally granted between Dudley Homes (Guildford) Limited and John Bruce for a term of 99 years from 29th September 1974. The current ground rent being paid is £112 per annum for the remainder of the term.
The lease provides the tenant is responsible to keep the garages in tenantable repair to keep the premises decorated once in every 5th year and keep adequate insurance in place. There is a further clause that requires the tenant to contribute two-thirds of all expenditure incurred by the freeholder or any residents association formed by the owners of the block of flats to maintain the access way to the garages from Pentreath Avenue.
The 6 garages are let to a number of individuals on separate tenancy agreements which have a mutual termination clause on one-month’s notice by either Landlord or Tenant. The current total income from the 6 garages is £3,780 per annum exclusive.
The tenancy agreements allow the Landlord to vary the rent on one-month’s notice, recover a proportion of the costs for maintaining common parts and to keep the garage in a clean and tidy condition.
We are seeking offers in excess of £75,000. We understand that VAT is not applicable on the sale of the garages.