We introduced the site to one of our retained clients who purchased it in October 2015 and then instructed us to refurbish it and then manage it on their behalf. The site was in a dangerous state of disrepair and even had squatters living in some of the garages.
What we did
- Removed the asbestos roofs from the garages and installed new high-quality flat roofs that came with a 15-year guarantee
- Cleared all rubbish from the garages and site
- Fitted new 4-point locking doors to all garages
- Installed gates and replaced fencing where necessary
- Made extra space on the site by excavating an earth bank/removing a tree, then erected a further garage to fully utilise every part of the site
- Installed site lighting
- Advertised the garages to attract new tenants and arranged lettings
The 26 garages on this site are now 100% let and producing in excess of £32,500 per annum with potential to increase this further through yearly rent reviews. The site is safe and secure due to the gates and fencing we installed. Our client’s investment is now fully optimised, producing an excellent ROI for our client, whilst the capital value of the property has dramatically increased.
Interested in our management services?
Fill in the form below or alternatively, call us on 0118 975 9455.