Summary - 72, VARITY HOUSE, VICARAGE FARM ROAD PE1 5GX
1 bed 1 bath Apartment
Long lease, immediate rental income for investors.
AST rent reserved at £9,000 per annum
Guide price £60,000–£70,000. This one-bedroom first-floor apartment in a modern block is presented primarily as an investment opportunity, currently reserved on an AST at £9,000 per annum. The compact open-plan living/kitchen, double bedroom and bathroom suit a single tenant or professional, and the property benefits from a long lease (115 years) and low council tax banding.
Practical running costs and constraints are clear: heating is by electric room heaters, main fuel is electricity, and the property may feel basic without updating. Service charge is approximately £877.73 and ground rent £200 per year; prospective buyers should allow for leasehold administration costs and any auction-related fees.
Location delivers easy access to Peterborough city centre and transport links, but the immediate area scores high on crime and is very deprived, which will influence tenant demand and pricing. There is no private garden and views are over car parking and commercial buildings, so appeal is predominantly rental-focused rather than lifestyle-led.
This lot is being sold at auction, making it suitable for investors comfortable with auction purchase processes and doing their own due diligence. The property offers predictable rental income now and basic accommodation that could benefit from modest cosmetic refurbishment to improve appeal and potentially increase rent.
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