Summary - Cross Street, Preston, Lancashire, PR1 PR1 3AJ
1 bed 1 bath Flat
Tenant in place until Oct 2025 delivering immediate rental income..
Immediate rental income: tenant in situ paying £800 pcm until 30/10/2025
Long lease: approximately 142 years remaining
Small size: about 412 sq ft, compact one-bedroom layout
Annual service charge approx. £1,563; ground rent approx. £457
Heating: electric room heaters only, no gas central heating
Area challenges: very high crime and higher local deprivation
Cash buyers preferred; sale described as cash-only opportunity
Low council tax band and fast broadband/mobile connectivity
This compact one-bedroom apartment sits in the heart of Preston, a short walk from Winckley Square, the train station and city amenities. The flat is modern-finished with double glazing, an open-plan living/kitchen and a contemporary bathroom — ready to let without immediate refurbishment.
The property is offered with a tenant in situ until 30/10/2025, paying £800 pcm (£9,600 pa), making it an immediate income opportunity for investors or cash buyers. The long lease (approx. 142 years remaining) provides tenure security and low purchase risk on that front.
Buyers should note material drawbacks: the area records very high crime and is classified as deprived, which can affect tenant demand and resale. Heating is by electric room heaters (no central gas), the flat is small (approx. 412 sq ft), and ongoing costs include an average service charge of £1,563 and ground rent of £457 per year. The property is best suited to investors, first-time buyers seeking a city pied-à-terre, or downsizers willing to accept compact urban living.
1 bedroom apartment for sale in Winckley Square, Preston, Lancashire, PR1 — £140,000 • 1 bed • 1 bath
1 bedroom flat for sale in Bishopgate, Preston, Lancashire, PR1 — £125,000 • 1 bed • 1 bath • 470 ft²
1 bedroom apartment for sale in 16 Cross Street, Preston, PR1 — £70,000 • 1 bed • 1 bath • 593 ft²
1 bedroom apartment for sale in Flat , Cross Street, Preston, PR1 — £110,000 • 1 bed • 1 bath
1 bedroom apartment for sale in Winckley Square, Preston, Lancashire, PR1 — £130,000 • 1 bed • 1 bath • 430 ft²
1 bedroom flat for sale in Fishergate Hill, Preston, PR1 — £69,950 • 1 bed • 1 bath • 855 ft²
