A collection of 18 lock-up garages in South Wales is back on the market – with a jaw-dropping auction reserve of just £1 for the entire lot.
The garages, located on Beech Grove in Gurnos, Merthyr Tydfil, were originally snapped up in a pre-Christmas auction by out-of-town buyers who made the purchase on impulse.
Now, just months later, they’ve had second thoughts – and are offering them up again through Newport-based Paul Fosh Auctions.
Seasoned property auctioneer Sean Roper, who handled the original sale and is overseeing the resale, says it became a “tricky” situation for the original buyers.
UNDERESTIMATED
He says: “The buyers were keen but underestimated the challenge of managing the site from a distance. They’re not local, and that’s made things tricky. So, they’ve decided to relist – and they’re letting the market decide the price.”
To generate interest, the sellers have set the reserve price at just £1.
Roper adds: “It’s a bit of fun, but it’s also a serious opportunity. This kind of lot always attracts attention, and the sellers are happy to let the auction run its course. There’s no option to buy prior – it’s all going through the auction.”
LEFTOVER ITEMS
The site recently underwent a tidy-up after a bout of fly-tipping but is now cleared, gated and secured. A few garages contain leftover items, which the new owner will need to clear.
And despite the quirky backstory Roper is confident in the lot’s investment potential.
He adds: “With secure gated access, these garages offer excellent flexibility – whether for personal storage, small-scale business use, car storage, a workshop, or even hobby space. There’s real scope here.”
WELL-POSITIONED
Location-wise, the site is well-positioned: The A465 is easily reached via Rocky Road, offering direct access to the Heads of the Valleys and the A470.
Merthyr Tydfil town centre is just a 15-minute walk away and both Cyfarthfa Retail Park and Trago Mills are nearby.
And with demand for storage space and lock-up garages still strong in many parts of the UK, the potential income could be significant.
If fully let at an average of £100 per month per garage, the site could generate around £21,600 per year in rental income.
