A NEW owner now has plenty of storage space this Christmas after snapping up a group of no less than 23 domestic garages at auction.
The garages, in a residential area in the south Wales city of Newport, attracted huge interest after being listed with a guide price of £50,000 for the lot, by Paul Fosh Auctions.
Debra Bisley, of Paul Fosh Auctions said: “The garages, in desirable Allt-yr-yn Way, Newport were a hit from the start. Eventually we had a total of 100 bids for them from four individual bidders with the lot going for more than twice the guide price at £121,000.
“This works out at just over £5,200 each which is a really great result all round.”
Debra, who has sold everything from pubs to office blocks and everything in between, said: “There’s seldom one of our property auctions when we don’t have at least one garage on offer.
“Garages or just a single garage, are ever popular and much sought after and, depending on a range of matters including condition and location, can achieve very satisfactory prices at auction. Garages can be a good investment as people these days have so much ‘stuff’ and seldom have enough storage space.
“People are willing to pay rent for the privilege of having more room to store things, such as maybe a classic car or excess furniture or things that ‘might come in handy one day’, by renting space on a short or long term basis.”
The next Paul Fosh Auctions, when a variety of lots will be on offer, starts at 12 noon on Tuesday, February 4 and ends from 5pm on Thursday, February 6.
for more information, visit the Paul Fosh Auctions website.
