High-yield city flat with immediate rental income and long lease term.
- Spacious 1-bed flat at roughly 689 sq ft, large for its type
- Current rent £650 pcm; strong gross yield at asking price
- Tenant on rolling contract; immediate income and flexibility
- Long lease: 981 years remaining; no ground rent reported
- Off-street parking available for the building
- Service charge c. £1,200 per year; reviewed annually
- Area very deprived with very high recorded crime levels
- Building exterior requires cosmetic repair and redecoration
A high-yield, ground-floor 1-bedroom flat set within a substantial period villa conversion on Lilley Road, offered with immediate rental income. The property measures about 689 sq ft — generous for a one-bedroom — and combines period proportions (high ceilings, large rooms) with a recently fitted kitchen and double glazing. Mains gas central heating and an EPC rating around 73 (C) support tenant comfort and letability.
This lot is aimed squarely at investors seeking immediate cashflow. Current rent of £650 pcm produces a strong gross yield at the asking price. The tenant is on a rolling contract, giving flexibility to review terms or re-let. Off-street parking for the building, low council tax band, and fast broadband/mobile signal add practical appeal for working tenants.
Buyers should factor in the neighbourhood profile and maintenance commitments. The immediate area is very deprived with very high recorded crime, which can affect letting risk and insurance costs. Externally the building looks fair but would benefit from cosmetic repair and redecoration. There is a recurring service charge of approximately £1,200 per year. Leasehold title is long (981 years) with no ground rent indicated.
Overall this is a straightforward, low-management investment with strong headline yield, clear letting attractions and some location-driven risk that prudent buyers must price in.
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