Long-lease one-bed requiring refurbishment — ideal low-price investor project..
Long lease: approximately 983 years remaining
Vacant possession on completion — immediate access for works
Sold at public auction; contracts exchange on fall of hammer
Needs full refurbishment; signs of damp and mould present
Private rear access and small garden; landscaping required
Gas central heating and double glazing present (may need servicing)
Area has high crime and very high deprivation — affects resale/rent
Ground rent nominal (peppercorn) but buyer pays auction fees
This vacant ground-floor flat is offered at public auction with a long 983-year lease and immediate vacant possession. It has private rear access, gas central heating and double glazing, but is sold in need of full refurbishment. The guide price is low, making it a clear candidate for a cash investor or a hands-on buyer prepared to renovate.
The property comprises reception room/kitchen, hall, one bedroom and shower room/WC. Internal inspection will reveal worn finishes, evidence of damp and mould in parts of the living area and boiler that may require attention. External space includes a small garden and private access; landscaping and general maintenance are required.
Buyers should note this is an auction sale: contracts exchange on the fall of the hammer, an administration fee applies, and the legal pack must be reviewed before bidding. The flat sits in an area of high crime and very high deprivation, with good mobile signal and fast broadband — factors to weigh for letting prospects or resale.
For an investor seeking a low entry price and long leasehold security, the flat offers renovation upside and rental potential once refurbished. For owner-occupiers, significant remedial work will be needed; this is best suited to buyers who can carry out or fund refurbishment promptly.