Auction sale — tenanted two-bed ground floor flat with immediate rental income potential..
- Ground-floor two-bedroom flat, approx. 549 sq ft
- Currently tenanted at £450pcm (income immediate)
- Sold by auction: completion within 56 days
- Reservation Fee 4.5% (min £6,600) plus £300 Buyer Pack
- Leasehold tenure — check lease terms pre-bid
- Requires cosmetic updating and modernization
- Area: very deprived with higher crime rates
- Close to local amenities, transport and schools
A ground-floor two-bedroom flat offered for sale at auction, currently let at £450pcm and occupying approximately 549 sq ft. The property dates from the 1930–1949 era and benefits from double glazing, mains gas central heating and a small shared rear garden. The accommodation includes a 13'1" lounge, compact galley kitchen, two bedrooms and a bathroom with shower over bath. Ideal for a cash buyer or investor seeking immediate rental income and short-term letting potential.
Sold via the Modern Method of Auction (live auction ends 6th June, 14:00). The purchase requires completion within a 56-day Reservation Period. Note the sale is leasehold: a non-refundable Reservation Fee of 4.5% of the purchase price (minimum £6,600) is payable on exchange, and a Buyer Information Pack is available for £300 (incl VAT). Prospective buyers using mortgage finance should confirm affordability and inspect with their lender before bidding.
Location is practical for local amenities and transport links, with excellent mobile signal and fast broadband. The surrounding area is classified as very deprived with higher-than-average crime — this will affect tenant demand and resale prospects. The flat requires some updating and modernization; it suits an investor comfortable with refurbishment or a buyer prepared for straightforward cosmetic works.
Viewing is recommended to assess condition and rental potential. This is a clear opportunity for a specialist investor or renovation buyer who understands auction terms and the additional fees involved.