Run-down garage on sale for £100k – the same as a three-bed house in parts of UK
A single garage is currently on the market for £100,000 in the picturesque village of Bosham in West Sussex
A RUN-down single car garage has gone on the market for the princely sum of £100,000 – more than a three-bed terrace house in some parts of the country.
The garage, located in Bosham, close to Chichester Harbour, is in a desirable area where a three-bed house is currently for sale for £850,000 without any parking space.
Described on the property website RightMove as a “rare opportunity” for buyers “wishing to store a car or dinghy,” it is a stone’s throw from the Bosham Channel, which is popular as a sailing destination.
The lock up is part of a block of garages next to the Millstream Hotel and is situated a few hundred yards from the harbour.
It has already been subject to several offers, according to estate agents Sims Williams.
A spokeswoman for the company said: “The price is because of the location, it’s an upmarket area and very near to the water.
“There’s also a lot of people with big houses around there that don’t have access to parking, so a garage located near to their homes is very appealing.”
According to the website the area has a “fantastic selection of period and contemporary homes” which become “particularly popular in the summer months.”
The spokeswoman continued: “When a lot of visitors come to the village, it is a huge asset to own a garage.
“We have had several good offers for it already, but the seller is holding out for the asking price.”
Bosham is a picturesque village in West Sussex, close to Chichester, which dates back to Roman times with a current population of 2,900, according to the 2011 Census.
The village is described in the Doomsday Book as being one of the wealthiest manors in England.
A £100,000 would easily get you a two bed terrace house in many parts of the country and in many cases with money left over.
Right Move is currently offering a two bed terrace house in Liverpool for just £55,000 which has been recently redecorated.
A similar property in Kirkby Park, Liverpool could be yours for £89,950.
Over in Newcastle, £100,000 could get you a five bed terrace house in Newcastle.
In 2018, the average price of a terraced property in County Durham was just under £89,000.
It’s not just in the north of England which has cheaper house prices.
A three-bed property in Plasmarl, Swansea is currently for sale for £85,000 while £100,000 could get you a three-bed terrace in Lowestoft, Suffolk.
Even a houseboat in central London is cheaper.
A modern houseboat, moored in Poplar Dock Marina, Canary Wharf has an asking price of £75,000.
Back in November 2014, a garage went up for sale in London’s Chelsea for £100,000.
It came with a condition that the new buyer could only keep it for 14 years.
It means the secure parking space will cost an average £7,142 a year, £137 a week, or £20 a day.
The £100,000 price tag makes the lock-up as expensive as a three-bedroom house in Lowestoft in Suffolk or a one-bedroom houseboat docked at Canary Wharf.
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Back in 2014, a small garage on a plot of land in Chelsea was sold for an eye-watering £550,000 before it even got to auction.
Although the 11ft by 7ft installation off the King’s Road is only large enough to hold one car, its sale price is twice that of the average UK asking price, and at a similar level to the typical asking price of a London home.
In December 2016, a garage sold by Savills Auctions in Chelsea went for £670,000 which is believed to be a record for a garage in London.
Savills Auctions reported a bumper 2016 for clients looking for a lock-up to either park their car in or to use for redevelopment.