Summary - FLAT 2, BILL FAUST HOUSE, 20 TARLING STREET E1 0AD
1 bed 1 bath Flat
Immediate rental income from a long-lease one‑bed near Shadwell station — sold at auction..
- Two-minute walk to Shadwell Station, excellent transport links
- Sold with tenant in situ at £1,350 PCM (statutory periodic tenancy)
- Lease c.106–107 years remaining, long enough for lenders
- Service charge approx. £3,150pa and ground rent £250pa
- Sold at auction via Secure Sale; sold as seen
- Living room/flat needs maintenance and cleaning works
- Cavity walls likely uninsulated; potential energy upgrade costs
- Area described as very deprived; tenant demand depends on management
A compact one-bedroom flat in Bill Faust House, offered with a tenant in situ, presents a straightforward buy-to-let opportunity in central E1. Its main appeal is location: a two-minute walk to Shadwell Station and within easy reach of Wapping and St Katherine’s Dock, which supports rental demand and tenant convenience. The property is currently let at £1,350 PCM on a statutory periodic tenancy, providing immediate income for a purchaser.
The building dates from the late 1960s/early 1970s and is mid-terrace with double glazing and gas central heating via boiler and radiators. The flat has an open-plan kitchen/living space and a practical bedroom; overall size is average at about 538 sqft. The lease is long (about 106–107 years remaining), giving medium‑term security for a leasehold investor, though the property is sold at auction via a Secure Sale process and will be sold as seen.
Running costs and ownership details are significant: an annual service charge around £3,150 and ground rent of £250. The building’s cavity walls are assumed uninsulated, which may affect energy performance and require future remedial works. The living space is described as in need of maintenance/cleaning, so expect light refurbishment or redecoration before re-letting or valuation improvements.
The surrounding area is inner‑city and described as very deprived, so investor returns will depend on careful tenant selection and management. Positively, connectivity, fast broadband and excellent mobile signal support modern tenant expectations. This is a practical, cashflow-focused purchase for an investor who accepts an auction purchase, some immediate upkeep, and the responsibilities of a leasehold flat.
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