Summary - Apartment 1, Fydell Lodge, Fydell Street PE21 8FL
2 bed 1 bath Apartment
Period two-bed investment with parking, tenant in situ and auction sale — strong rental yield.
2-bedroom top-floor apartment with vaulted ceilings and period character
Currently let at £675pcm — immediate rental income and good yield
Allocated off-street parking in communal car park
Long lease (118 years); tenure: leasehold
Service charge ~£1,500pa and ground rent £225pa
Sold via Secure Sale online auction; starting bid listed £65,000
Sitting tenant in place — no guaranteed vacant possession
Local area has higher crime; constrained private-renter market
Top-floor two-bedroom apartment in a converted Victorian building, offered as a buy-to-let or starter purchase. The property is currently let at £675pcm, producing immediate income and a strong rental yield for the guide price. Accommodation includes an open-plan living/kitchen, two bedrooms with vaulted ceilings, and a family bathroom. An allocated parking space sits in the communal car park.
Practical tenure and running costs are clear: long lease (118 years remaining), mains gas heating, double glazing, and a low flood risk. Service charge and ground rent are present (approx. £1,500pa service charge; £225pa ground rent). Council tax is described as very cheap. Broadband and mobile signal are adequate for everyday needs, and the apartment is within walking distance of the town centre and train station.
Important considerations: the lot is being sold at auction via a Secure Sale online bidding process with legal pack and ID/AML checks — starting bid listed at £65,000. The apartment is sold with a sitting tenant, so vacant possession is not guaranteed. The local area records higher crime and is classed for constrained private renters, which may affect long‑term demand and management costs.
This lot will suit investors seeking immediate rental income and long-term yield, or a buyer wanting a low-entry-price property close to transport and town amenities who is comfortable purchasing at auction and managing tenancy. Internal modernisation would likely increase rent and resale value.
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