Summary - 38, THE PORTWAY, KING'S LYNN PE30 5GB
2 bed 1 bath Flat
Income-ready apartment with long lease and communal outdoor space.
Tenants in situ paying £800pcm, offered with no onward chain
Long lease (approx. 980 years) — strong tenure security
Good-size two bedrooms, open-plan living/kitchen, 727 sqft
Built 2003–2006; double glazed; gas central heating
Communal garden and residents off-street parking included
High annual ground rent (£2,700) — reduces net yield
Area is very deprived with high local crime — consider demand risk
Council tax very low; broadband fast and mobile signal excellent
A practical investment opportunity in King's Lynn, offered with tenants in situ paying £800pcm and no onward chain. The second-floor, two-bedroom apartment sits in a modern block constructed 2003–2006, with double glazing, gas central heating and an open-plan living/kitchen. Residents benefit from off-street parking and access to a communal garden.
The lease is exceptionally long (approx. 980 years) and council tax is very low, reducing running costs. The current rental income gives an immediately usable let, making this suitable for a landlord seeking steady cashflow. The flat is average in size (about 727 sq ft) with good natural light from front-facing windows.
Notable drawbacks are material and should be considered: the ground rent is high (£2,700 pa), which will affect net returns and may lead to additional annual charges. The property sits in a very deprived area with higher local crime rates and a transitional neighbourhood profile that may affect tenant demand and capital growth. Prospective buyers should factor in possible service/administration fees for leasehold management and confirm appliance and service condition, as utilities and fittings have not been tested.
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