Property News · April 30, 2014

Six ageing London garages fetch £700,000 at auction


Fulham properties, with no planning permission, join the ‘crazy prices’ auctioneers are achieving in parts of the capitalFierce bidding drove up the cost of six garages in west London at a recent property auction – with the lock-ups fetching £700,000, some 10 times the guide price.Three of the garages, are currently let, bringing in an income of £2,760 a year, but the buyer is expected to knock them down and replace carparking with carpeting. Property prices in Hammersmith & Fulham, where the garages sit just off the Fulham Road, rose by almost 16% in the year to March, according to the Land Registry. Continue reading…

Source : theguardian.com
Read more…Six ageing London garages fetch £700,000 at auction

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