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Dammit-
Not sure what area in London you're in but when I was an EA (Hackney) a garage/secure underground parking space would usually add 20-25k in value to a property.
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Funding from an offset account (I assume?) makes a lot of sense. If you are going to live there for a long time and would otherwise rent the garages it feels worthwhile to you.
The harder question is whether there is a buyer for them if you moved out and what the liquidity would be if you needed the cash back. I suspect not great ?
jakemcree
NickCJ
Ok, so £100 pcm or £1,200 / year. Depends what your personal cost of capital is but £20k sounds like bargain to me (6.1% imputed post tax return).