Edinburger property/garage help

[ed]

Afraid it depends on alot of things. (obviously) ie exact location etc etc

Recently a double garage recently went for £90k.


I would say in the region of £50k and you wouldnt be far off! HTH cheers Ed

[Rory]

How much % over asking price do you need to bid on a single garage?

Depends very much on location.

If it is central enough to be used by New Town offices/businesses, then you're going to have to pay way over the odds.

I once bid on a double garage in Learmonth, and I missed it by £65K!!
It sold for £90k back in 2003. It had been offers over 18k.

I reckon if it is further out, then a single garage will go for about £15-£20k.

If you look at the possible rental returns that you'd get for a garage, then much over £15k makes the purchase illogical.
You'd never make a decent enough return to warrant the capital outlay.
(I have an excel spreadsheet I made up with various interest rate scenarios, to illustrate this if you are interested?)

Because of this I have been renting a lock-up, and console myself in the knowledge that buying would have been a bigger waste of money.

Hope this helps

[GregR]

Comely bank ones go for £60k

[ed]

Im guessing you mean the one on lennox lane and if so i would say atleast 50% more although obviously this would be on the assumption its in decent nick!

[ed]

Why not buy two!

[Rory]

I will shortly be vacating my rented garage on Learmonth Terrace Lane (the nice tarmac'd bit on the easternmost part, not the muddy bit behind the Learmonth Hotel).

Doing it through Trinity Factors ( ), but would give you the heads up when I'm terminating the contract so you could get-in-there first.

Just a thought...if you are desperate to house a vehicle.......

[mrbennybennett]

Shoomer

Whats the address and who is selling and I will have a look at it from my desk- ive valued a few in West End recently and I was putting quite steamy prices on them

Cheers

Anthony