unit advice needed

[boom666]

ello everyone
can anyone advice me on what the going rate is for a unit ? i've found one ,its not very big 21x21 with electric and water. the guy wants £75 a week ,i thought that was a bit steep. or am I bein a tight old child born out of wedlock??

[mancimp89]

sounds about right from what ive seen, i imagine it varys quite a bit throughout the country.
James

[retropower]

Mar 6, 2010 17:01:37 GMT boom666 said:

ello everyone
can anyone advice me on what the going rate is for a unit ? i've found one ,its not very big 21x21 with electric and water. the guy wants £75 a week ,i thought that was a bit steep. or am I bein a tight old child born out of wedlock??

You'd usually (in my area) be looking at between 25p and 30p per square foot, per month, but that would be rent only. On top of that you'd pay the utility bills and business rates which might add a good 40% on top. So by that token I'd say maybe £50 per week would be more sensible. £75 doesn't sound ridiculous though.

[wez]

Hi, just as a guide my unit is 30ft by 30ft (ish), double height and width roller shutter door. Its £350 a month all in, except electric.

[pickmeup]

i was looking at getting a council garage to store my crx closer to home in the centre of bristol and if you are lucky enough to get one they are 50quid a month, but you cant do any work in them!

[Dez]

bloody hell, mines cheap then!

mines 21'x65' + 3 outside parking spaces, has water, 1ph+ 3ph, and is less than that with utilities included...... it works out under 300p/m. but its by no means below the going rate round here. theres plenty more i could be in for that price.

[boom666]

thanks for the advice you lot. I guess I'll keep looking. at this rate I'll be dead before i get a unit. dez you've got a great deal on your unit. i would've thought with the amount of businesses goin under that the prices of units would've gone down.

[jo0lz]

In the property game freeholders usually look for about a 10% return on investment for storage/units/lock-ups

So take whatever value the building and its freehold has, then divide by ten and this gives you an approximation of the annual rental value [pa].

Working it the other way a lockup that is rented for £50 month [pcm], makes £600 a year [pa], so its value to buy would be approx £6000.
Which seem about right when you think of how little land it would be on and how easy they are to build.

Also considering the approx size of your average lock-up that £50pcm works out at about £4 per sq foot per annum

That said there was one on the Wirral advertised by an Estate Agent in the local paper and they were asking £10k for it freehold!
BUT it was in a VERY POSH area.....!!!!!!!

I've seen units round here on Wirral going for anything from £2 sqft pa to £7 sqft pa, depending on how big they are and what state the building is in.

Unfortunately the lower prices are usually for HUGE places thay you would need a large group of you to be able to afford.

So at the moment the two lock-ups I have, one at £32pcm and another at £96 per quarter, while not ideal, are pretty cost effective.

BUT I want the space of a unit to be able to work on my motors . . .
Just need to keep looking. . . . .