- Two-bedroom first-floor flat with private rear garden and parking
- Tenant in situ paying £1,100 pcm (periodic AST)
- 56 years remaining on the lease — likely unmortgageable
- For sale by auction; buyers’ premium and 56-day completion apply
- Dated kitchen and overgrown garden; refurbishment opportunity
- Ground rent £50 pa; service charge payable as and when
- Market value quoted c.£220,000 with a new lease (indicative)
- Cash buyers preferred due to lease length and auction sale
A two-bedroom garden flat inside a Victorian conversion, offered for unconditional online auction with a sitting tenant paying £1,100 PCM. The apartment occupies the entire first floor and includes a private rear garden and off-street parking — rare for apartment living and attractive for buy-to-let investors. The kitchen is dated and the garden is overgrown, so modest refurbishment would increase rental and resale value.
This lot is sale-by-auction and subject to a buyers’ premium and a compulsory 56-day completion. Critically, the property has only 56 years remaining on the lease; most residential mortgage lenders will refuse to lend, so this is effectively a cash-purchase opportunity. Ground rent is low at £50 pa and there is no immediate flooding risk.
The area is well connected with good local amenities, strong broadband and excellent mobile signal, making it appealing to professionals and renters. If you can buy cash and are comfortable arranging a lease extension (significant cost) or operating as a cash investor, the property offers immediate rental income and upside after refurbishment and lease negotiation. Note: annual service charges are payable “as and when” and any special costs will appear in the legal pack.
