Ground-floor one-bedroom flat, approx. 408 sq ft
Allocated off-street parking and enclosed rear garden
Open-plan lounge/diner with fitted kitchen
Approx. 58 years remaining on the lease — lender risk
Lease extension quoted ~£13,498 plus legal fees (buyer to verify)
Electric storage heating; main fuel is electricity
Low service charge and ground rent (around £60 pa each)
Local area: very high crime and slow broadband speeds
A ground-floor one-bedroom flat in Penkhull positioned close to local amenities and a nearby hospital complex. The layout is practical: entrance hall, open-plan lounge/diner with fitted kitchen, one bedroom and a modern bathroom. Outside there is an enclosed rear garden and an allocated parking space, with double glazing throughout and a low annual service charge.
This property is presented as an investment opportunity or a low-maintenance purchase for a cash buyer. At £75,000 and with no upward chain, it could suit a landlord seeking straightforward rental stock or a buyer wanting an affordable starter home. The compact footprint (approx. 408 sq ft) makes the accommodation easy to manage.
Important — the lease has approximately 58 years remaining. Many mortgage lenders will decline mortgages on leases under this length; buyers should be aware of the potential difficulty obtaining standard finance. The vendor has indicated a lease extension option to 120 years would cost around £13,498 plus legal fees — buyers must verify these figures independently.
Note the property uses electric storage heaters and an electricity main fuel supply. Local factors include very high recorded crime, slow broadband speeds and a very deprived area classification; these may affect rental demand and resale. Service charge and ground rent are low (circa £60 each per year), and council tax is very cheap.
