A block of garages located in Beech Grove, Gurnos, Merthyr Tydfil, has generated considerable interest after being sold at auction for an impressive £54,500, following an exhaustive bidding war that consisted of 166 bids. The sale was conducted by Paul Fosh Auctions, with ten bidders initially competing for the lot, but two determined rivals eventually fought it out, matching each other's offers all the way to the close.

Sean Roper, a representative from Paul Fosh Auctions, remarked on the atmosphere during the auction, noting, "There was real electricity in the air as the final bids were made for the garages by the last pair of bidders, each seemingly as determined as the other to secure the sale."

The garages, which were purchased by prior owners in a Christmas auction, were initially acquired without proper consideration of their management, given the distance from the buyers' residence. In a strategic move to boost interest in the current auction, the starting price was set at £1, effectively creating a buzz among potential buyers.

Commenting on the auction’s outcome, Roper further stated that the original owners were pleased with the final sale price, which translates to approximately £3,000 per garage. He expressed confidence in the unit's investment potential, highlighting the secure gated access and versatility for various uses such as car storage, workshops, or hobby space.

In terms of location, the garages offer good connectivity, being easily accessible via the A465 and Rocky Road, which leads to key routes including the A470. The town centre of Merthyr is approximately a 15-minute walk away and features a variety of amenities, including Cyfarthfa Retail Park and Trago Mills, both within a short commuting distance.

If fully occupied, the potential annual income from the garages could reach £21,600, calculated at £100 per garage per month. For those interested in future opportunities, Paul Fosh Auctions has announced its next online sale beginning on Tuesday, May 20, and running until Thursday, May 22. More details can be found on their website.

Source: Noah Wire Services