Summary - 1 SPRING HILL COURT VENTNOR PO38 1PD
2 bed 1 bath Flat
Long-lease, rented two-bed with garage — investor purchase with immediate income.
Let at £550pcm producing immediate income
A straightforward investment opportunity in Ventnor: a two-bedroom, first-floor flat with a long lease and a single garage. The property is let at £550 pcm, providing immediate rental income and an investor-focused purchase where the tenant is expected to remain. Practical upgrades include uPVC double glazing and an updated shower room; lounge and main bedroom offer pleasant open-aspect views.
Running costs and condition are mixed. Heating is by electric night storage heaters and the building has cavity walls with no known insulation, so energy performance will be below modern standards. Broadband speeds in the area are slow and the immediate neighbourhood is in a more deprived locality, which may affect tenant demand and future capital growth compared with stronger markets.
Lease and service arrangements are investor-friendly: approximately 149 years remaining, low ground rent (£20 pa) and a below-average service charge (£900 pa) which includes building insurance and management. The flat forms part of a resident-managed freehold company and benefits from a single garage and ground-level access.
This is best suited to a buy-to-let investor seeking steady income with minimal refurbishment required to relet. Consider improvements to heating and insulation to lower running costs and broaden tenant appeal; viewing recommended to assess condition and rental potential in person.
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