Small one-bedroom investment with immediate rent and uplift potential, sold at auction..
One-bedroom flat in period Victorian/Georgian building
A compact one-bedroom flat in a Victorian/Georgian corner building on West Princes Street, offered with a sitting tenant and immediate income. The property is sold at auction and marketed at a low guide price with a current rent of £3,348 per year. Tenanted status suits investors seeking immediate cashflow; buyer must accept the existing tenancy terms.
Accommodation comprises entrance hallway, living room, double bedroom, kitchen and bathroom. The flat is small and described as in need of modernization; the communal and external fabric shows signs of period wear and some rundown elements. Broadband is average and the area is classed as very deprived, so buyers should factor local demand and management costs into projections.
There is clear rental upside: agent notes estimated market rent of £475–£525 pcm, which would materially increase annual income if achieved. The location offers transport links, local amenities and coastal town character, supporting lettings to local tenants or short-term visitors, but purchasers should budget for refurbishment and ongoing maintenance.
Sold freehold via timed online auction, this is a value-driven acquisition aimed at investors comfortable buying at auction, accepting a tenanted flat and taking on refurbishment and management responsibilities. Material negatives are the tenant in situ, the property’s small size, evident need for modernization, and its setting within a very deprived area.
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