Summary - METROPOLITAN APARTMENTS, 20 502 LEE CIRCLE LEICESTER LE1 3RF
2 bed 1 bath Apartment
Immediate-sale auction lot with rental income and central location.
Rental income £950 pcm — tenant can remain in situ for immediate yield
Central fifth-floor apartment — 668 sq ft, open-plan lounge/kitchen
Leasehold: 104 years remaining
Annual service charge circa £2,039
Electric storage heating; likely higher running costs
System-built walls with no confirmed insulation — may need upgrades
Located in deprived, high-crime city-centre area
Sold at online auction; immediate exchange possible upon accepted bid
A fifth-floor, two-bedroom apartment in the heart of Leicester offering immediate purchase via a secure online auction. The open-plan lounge/kitchen is bright and modern in feel, suitable for rental occupation or a first home with efficient use of its 668 sq ft. The lot includes an existing tenant paying £950 pcm, making it straightforward for investors to keep income from day one.
Buyers should note material factors plainly: the property is leasehold with 104 years remaining and an annual service charge around £2,039. Heating is by electric storage heaters and the building appears to be a system-built construction with no confirmed wall insulation — both factors that could affect running costs and future refurbishment budgets. The neighbourhood is a cosmopolitan, student-oriented area in a deprived city centre location with a very high local crime rate.
This sale is run through a transparent online auction (secure sale) with a starting bid of £100,000; the legal pack is available and immediate exchange is possible once bids are accepted. Viewings are by appointment only and bidders must complete AML verification. The combination of central location, existing rental income and immediate-sale mechanics will suit investors and cash-ready buyers who accept the refurbishment and management considerations.
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