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Barratts - Offering parking space for £15K
paulnstar
Posts: 22 Forumite
Hi
We moved into our City Center 1 bed flat last Feb 08 and it came without parking. At the time I asked if there were any spare car parking spaces and how much they would cost and I was told I could have one for 8K.
We've now had a letter from Barratts this weekend saying they have 10 spaces available. We've been to the sales office and were told the following:
1. to buy today they cost £15k each
2. Out of the 10 they have sold 5 already
3. They have 9 other sealed bids if they go to auction on Thursday
My question is:
1. Should I buy a space - we rent 1 for £250 per Qtr at the moment
2. Are Barratts playing a game
3 If I bid what should I offer (we're thinking £5-8k)
Has anybody else had experience of this - what should we do, we're only first time buyers and don't need the extra debt but having a space would beuseful.
Many thanks
Paul
We moved into our City Center 1 bed flat last Feb 08 and it came without parking. At the time I asked if there were any spare car parking spaces and how much they would cost and I was told I could have one for 8K.
We've now had a letter from Barratts this weekend saying they have 10 spaces available. We've been to the sales office and were told the following:
1. to buy today they cost £15k each
2. Out of the 10 they have sold 5 already
3. They have 9 other sealed bids if they go to auction on Thursday
My question is:
1. Should I buy a space - we rent 1 for £250 per Qtr at the moment
2. Are Barratts playing a game
3 If I bid what should I offer (we're thinking £5-8k)
Has anybody else had experience of this - what should we do, we're only first time buyers and don't need the extra debt but having a space would beuseful.
Many thanks
Paul
0
Comments
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1). No, personally I would carry on renting one.
2). Probably getting desperate!
3). I wouldn't bid more than £3k if at all!Saving for a deposit: £20,551 / £25,000 - 82% of the way there...0 -
Much easier to sell a city centre flat with parking space than without.
That said if you didn't want to buy one for 8k a few months ago, why would you want to pay more for one now?1. to buy today they cost £15k each So the salesman says
2. Out of the 10 they have sold 5 already At £15k or cheaper
3. They have 9 other sealed bids if they go to auction on Thursday Do you believe this?
Only bid what you want to pay, don't be coerced by all this talk of 15k. Prices have fallen since February, why would the price double?I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0 -
Thank you both for such quick replies
1. to buy today they cost £15k each So the salesman says - Yes so he says!!
2. Out of the 10 they have sold 5 already At £15k or cheaper - apparently within 24hrs of the letter coming out they've sold 5 at £15K - again I'd be surprised - thats a deposit on another flat!
3. They have 9 other sealed bids if they go to auction on Thursday Do you believe this? - Not really again due to the letter only jsut going out I'd say thats too quick a reply
We might wait until Mon/Tue and see if there is a different sales person in the office and then go and ask the same questions.
If you were to bid what would you pay? Also if we win whos' footing the extra bill as I take it the deeds will need to be updated0 -
Much easier to sell a city centre flat with parking space than without.
I entirely agree. The OP did not say which city the flat is in, what parking is like outside the block, whether there is a residents parking scheme operated by the local council, etc? So, whilst i would regard a parking space as an essential, I have no idea what it's worth.No reliance should be placed on the above! Absolutely none, do you hear?0 -
i'd have thought they would be lucky if someone offered them £15k for parking with a free flat thrown in -0
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You bought a city centre place because it was handy for work? So you don't need a car!0
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Ask yourself why Barratts have them left to sell. It's because less people then expected bought them with their flats. So the 8k price tg was not low enough to encourage the sale at the time the flats are sold.
Now Barratt wants rid of them. So they put the price up, tell you that there are selaed bids in envelopes, that people have benn signing up left right and centre, but hey, you can have one for nearly twice what they thought they could flog them for in February.
Offer £1000 and wait for them to get in touch.I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0 -
How much to pay - well, if you're looking at the straightforward picture - ie, want a space to put a car and save yourself the quarterly outgoing - rather than to add value, then it's a simple equation - how long do you intend to stay where you are, in years, multiplied by the annual rental cost of a space. If you're looking to add value then you need to be doing some more research - ie how much more do those with spaces fetch on selling?🎉 MORTGAGE FREE (First time!) 30/09/2016 🎉 And now we go again…New mortgage taken 01/09/23 🏡
Balance as at 01/09/23 = £115,000.00 Balance as at 31/12/23 = £112,000.00
Balance as at 31/08/24 = £105,400.00 Balance as at 31/12/24 = £102,500.00
£100k barrier broken 1/4/25
Balance as at 31/08/25 = £ 95,450.00. Balance as at 31/12/25 = £ 91,100.00
SOA CALCULATOR (for DFW newbies): SOA Calculatorshe/her0 -
They were offering a second parking space to all our 40 leasehold residents here and no-one bought one as we are doing ok re parking. They were offered at 10k0
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