Dick Axtell
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| posted on 2/5/04 at 04:28 PM |
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Lock-Up Millionaire??
Heard about this guy on Radio 4 - Friday (prog - You & Yours).
He now owns 11000 lock-up garages, throughout the UK!!! So that's the reason they've become so difficult to find.
Also read that one London garage was on offer for £100,000!! All driven by supply shortage, and the move to invest in property.
Wish I owned my lock-up. And maybe a few more.
[Edited on 2/5/04 by Dick Axtell]
Work-in-Progress: Changed to Zetec + T9. Still trying!!
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JoelP
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| posted on 2/5/04 at 07:20 PM |
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up north, they have a terrible rental return. around 5% sometimes, which isnt worth the effort as round here they're usually pretty shabby. i
suppose in london its a useful thing to have.
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Dick Axtell
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| posted on 3/5/04 at 04:01 PM |
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5% and freehold land??
At least, most of his holdings were freehold, 'cos he re-sold some after he got planning perm.
Smart mover!!
[Edited on 3/5/04 by Dick Axtell]
Work-in-Progress: Changed to Zetec + T9. Still trying!!
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rusty nuts
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| posted on 3/5/04 at 08:30 PM |
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Heard about 3 years ago on radio 2 the guy that used to play Don Beech in The Bill had brought a load of lockups as an investment for his retirement
fund. Rusty
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bob
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| posted on 3/5/04 at 09:27 PM |
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I got a mate with a few hundred lockups/garages that he rents out,only buys them near mainline train stations.
Charges the same yearly rental as station car park in the wealthy area's (6-800 quid)
makes a longterm fortune on his 2 - 3000 outlay.
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