Summary - RHOSLAN PARK, 76 FLAT 40 CONWAY ROAD COLWYN BAY LL29 7HR
1 bed 1 bath Apartment
Over-55s flat with tenant in place — immediate yield and communal living near Colwyn Bay promenade.
Over-55s retirement flat with on-site manager and emergency pull-cord
Tenant in situ, current rent reported at £480 pcm (immediate income)
Second-floor apartment with lift access and communal gardens
88 years remaining on the lease (125-year term from 1993)
High annual service charge approx £2,802 and ground rent approx £701
Electric storage heating — higher running costs likely
Some living areas show 1980s decor; cosmetic updating may be needed
Area has high crime rates and very high deprivation — impacts resale
This one-bedroom leasehold apartment at Rhoslan Park offers immediate rental income with a long-term tenant in situ, making it an obvious pick for investors seeking a low-effort income stream. Set on the second floor of a Tudor-revival development close to Colwyn Bay promenade and local amenities, the building provides communal gardens, a residents’ lounge, laundry, on-site manager and 24-hour emergency pull-cord assistance for peace of mind.
The flat combines some more recent kitchen fittings and integrated appliances with living areas that show 1980s-era decor and textured ceilings; buyers should expect cosmetic updating in parts. Heating is by electric storage heaters and main fuel is electricity, so energy costs may be higher than modern gas-heated homes. Leasehold costs are significant: an annual service charge around £2,802 and ground rent about £701, with 88 years remaining on the lease.
This property will be sold at auction with a starting bid of £40,000 and the tenant remaining in place, creating an immediate yield (current rent reported at £480 pcm). The wider location is classified as an ageing urban community with high crime and very high area deprivation indicators, which is important for both resident comfort and long-term capital growth prospects. The apartment suits investors targeting steady rental returns or over-55 buyers prioritising low-maintenance communal living, provided they accept the lease and running costs and local area challenges.
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