Summary - ALEXANDRA HOUSE ROOM 1 CASTLEGATE SHEFFIELD S3 8LE
1 bed 1 bath Apartment
Immediate tenant income and low entry price for hands-off investors.
- Generates immediate income: £550 pcm (£6,600 pa)
- Sold at auction; subject to existing assured shorthold tenancy
- Long leasehold; check legal pack for lease length and charges
- Compact studio layout with fitted kitchen and shower room
- High flood risk for the location — buyer to investigate insurance
- Very high local crime levels; location may affect yield and safety
- Electric room heaters; higher running costs and limited central heating
- Administration fee £3,600 inc VAT payable on exchange
A ready-made, low-cost buy-to-let with immediate income: this compact studio is fully let at £550 pcm, producing £6,600 per annum. Located in an attractive Edwardian conversion close to universities and transport, the apartment suits investors seeking a city-centre yield without refurbishment work.
The apartment is a practical open-plan studio with a fitted kitchen and private shower room. The building offers fob access and a maintained communal entrance. Tenure is long leasehold and the sale will be conducted at auction; the property is sold subject to the existing assured shorthold tenancy — check the legal pack for lease length and service charge details.
Buyers should note several material negatives: the property sits in a high flood-risk zone and in an area with very high crime levels. Heating is by electric room heaters and the main fuel is electricity; average wall thermal transmittance indicates moderate insulation. An administration fee of £3,600 (inc VAT) is payable on exchange, and other disbursements may apply on completion.
This is a straightforward, low-maintenance income asset for investors who accept location-related risks and the constraints of a leasehold, auction purchase. Inspect the legal pack and tenancy documents and allow for insurance, flood-risk mitigation, and potentially higher management costs when assessing net yield.
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