your on the right idea I guess.
I'm guessing your renting so yes whitewash walls/cheapest lino you can get on the floor also stick some onto some plyboard and screw it to the wall to pretect walls from GT85 overspray on one side of the room!! Fugly I know but oily marks are a beach to paint over when you leave the flat and the theiving landlord is looking for any excuse to keep your bond!!!
4 screw holes filled and painted over is an easier option on moving day.
then a bike holding device to aid maintenance and be careful with overspray of above oil solution
somewhere to store tools/kit
oh and dont forget to incorporate some sort of lock bolted to wall/floor even though it's inside your flat better be safe than sorry if a landlord has a key and gives it to an unscruplious tradesperson it may get lifted.
not that I'm a suspicious type you know!!??!!
time for bed I'm rambling on!!!
you get the idea finners