Three bedrooms with tenant in situ paying approximately £115 per week
A low-entry, three-bedroom apartment in central Barrow-in-Furness offered at a guide price of £10,000 — sold via online auction with tenants in situ. The flat currently produces approximately £115 per week from a rolling monthly tenancy, providing immediate rental income for an investor willing to accept short-term management and auction purchase conditions.
The building is a Victorian mixed-use property with characterful red-brick elevations; the flat has a compact contemporary kitchen and basic bathroom. The apartment is presented as a turn-key rental but shows signs of general wear and clutter and will benefit from cosmetic refurbishment to maximise long-term rental value or resale proceeds.
Material drawbacks are clear: there is an advertised annual service charge of about £3,000, high local crime levels, and the wider area is classified as very deprived. There is also a discrepancy in tenure information provided (FREEHOLD listed in summary, but auction documents describe a leasehold with 89 years remaining) — buyers must check the legal pack and confirm tenure before bidding.
The sale is subject to auction terms: a non-refundable buyers’ premium, immediate exchange on fall of the hammer, a £1,000 deposit and completion within 28 days. These conditions, plus potential additional costs listed in the legal pack, make this most suitable for cash buyers or experienced auction purchasers and landlords prepared to manage tenants and local market considerations.
