Summary - 79B, BLYTHE WAY, SHANKLIN PO37 7NL
2 bed 1 bath Flat
Two-bedroom first-floor flat with garden and parking — cash buyers only due to short lease..
Cash buyers only — 49 years left on the lease
A compact two-bedroom first-floor flat on the outskirts of Shanklin, offered as a cash-only purchase due to a short remaining lease. The layout includes a lounge/diner, separate kitchen and bathroom, with a small private garden and an allocated off-street parking space — useful assets in this popular seaside area. Natural light brightens the living space but the kitchen and some internal finishes require updating.
The key value here is the location and outdoor space: close to local shops, transport links and beaches, with pleasant vegetation to one side providing some seclusion. Annual costs are modest: service charge c. £447.47 and ground rent £50. Council Tax Band A makes holding costs lower than average.
Important buyer note — the lease has 49 years remaining. Most mortgage lenders will refuse to lend on properties with this short term, so the flat is suitable primarily for cash buyers or a buyer ready to fund a lease extension. Estate estimates indicate a lease extension would cost in the region of £25,000 plus legal fees. The property is sold as needing renovation, which presents potential for value-add for an investor or owner willing to modernise.
Viewings are welcome for buyers who understand the lease position. For a cash purchaser or investor prepared to extend the lease and update the flat, this offers a reasonably priced entry into Shanklin with private outdoor space and allocated parking.
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