Summary - FLAT 5/31, 220, WALLACE STREET G5 8AJ
2 bed 2 bath Flat
Two-bed buy-to-let with steady tenants and clear short-term rental upside.
- Two-bedroom flat with two bathrooms and triple-fixture bathroom layout
- Long-term tenants in situ producing £10,200pa gross income
- Rent potential to increase to approx. £10,920pa at market rate
- Off-street parking access and strong broadband/mobile connectivity
- Evidence of damp and dated/unfinished decor; needs refurbishment
- Freehold tenure for a flat (confirm legal title during due diligence)
- Located in a cosmopolitan student/commuter area but very deprived overall
- Buyers Premium will apply on purchase; see Let Property Pack
This two-bedroom flat on Wallace Street is offered primarily as a buy-to-let with long-term tenants in situ, producing a current gross annual income of £10,200 and an achievable market rent of approximately £10,920. The building is contemporary with large windows and balconies; the flat benefits from off-street parking access, excellent mobile signal and fast broadband — practical positives for rental demand from students and commuters.
The property shows evidence of wear and some damp/unfinished decor in at least one room and will require refurbishment to reach full market potential. The apartment is freehold and includes a triple-fixture bathroom layout, but cosmetic and possible minor remedial work should be budgeted for by a buyer.
Location strengths include easy access to local amenities and public transport; the wider area is a cosmopolitan student and commuter neighbourhood, which supports reliable lettings. However, the immediate area is classified as very deprived, which may limit capital growth and could affect tenant mix and management requirements.
For investors: the current tenancy is long-standing and the occupiers do not intend to leave, offering immediate income with limited void risk. A Buyers Premium will apply on purchase; prospective buyers should consult the Let Property Pack for full tenancy and income details and allow for refurbishment costs when assessing yield and future value.
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