Summary - Studio 23, Sir Thomas House, 5 Sir Thomas Street L1 6BW
1 bed 1 bath Apartment
Compact studio with long lease and strong rental yield in central L1 location.
Long lease: 241 years remaining
Built 2016 with period façade and city-centre position
Currently tenanted until September 2026 (income-producing)
Projected rental yield c. 9–9.8% at current rents
Small studio layout (~313 sq ft) — single occupancy only
Service charge ~£2,154.44 PA; ground rent £374 PA
Very high local crime rate — factor for tenants and insurers
Very slow broadband speeds in the building
This studio apartment in Sir Thomas House offers a compact, city-centre investment with a long lease and established rental income. Built in 2016 and set within a distinctive period façade, the property benefits from central L1 location and strong student demand in a cosmopolitan neighbourhood. It is currently tenanted until September 2026 with projected rental yields around 9–9.8%, making it suited to buy-to-let portfolios or investors seeking immediate income.
Practical details are straightforward: a 241-year lease remaining, mains gas via a community heating scheme, secondary glazing, and an annual service charge of approximately £2,154. Ground rent is £374 per year and council tax is very cheap (Band A). The apartment’s small linear layout (about 313 sq ft) suits single-occupancy rental or short-stay use rather than family occupation.
Buyers should note clear drawbacks: the neighbourhood records very high crime levels and broadband speeds are reported very slow — factors that may affect long-term tenant demand and lifestyle. The property is sold leasehold and carries regular service and ground rent costs; the current tenancy restricting vacant possession until Sept 2026 may appeal to investors but limit immediate owner-occupation.
Overall, this is a city-centre, purpose-built studio that delivers an immediate rental income stream and long lease security, but it requires investors to weigh service charges, area crime statistics and slow broadband against the strong central location and high rental yields.
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