Low-cost auction buy — leasehold 3-bed with rental potential, sold for immediate exchange..
Ground-floor 3-bedroom apartment, approx. 705 sq ft
Fixed buy-it-now price £55,000, sold under auction terms
Leasehold sale — check lease length, service charges in legal pack
Immediate exchange required; 10% non-refundable deposit (min £5,000)
Buyer’s fee payable (£6,000 inc. VAT) plus possible extra contributions
Estimated rent c. £650 PCM (£7,800 pa) — investor potential
Very deprived area with high crime — consider tenant risk and insurance
Small rooms and low ceilings; limited living space, possible refurbishment needed
This three-bedroom ground-floor apartment in Jason Street offers compact, modern living across approximately 705 sq ft. The interior presents clean, neutral finishes, hardwood floors and central heating, suited to a low-maintenance rental or a buy-to-let starter. Low ceilings and generally small room sizes limit living space and ceiling height throughout.
The property is sold LEASEHOLD at a fixed buy-it-now price of £55,000 and will be sold under auction terms. The sale requires immediate exchange on purchase, a non-refundable 10% deposit (minimum £5,000), a mandatory buyer’s fee (£6,000 inc. VAT), and is cash-only — review the legal pack carefully for lease length, service charges and any special conditions before bidding.
Estimated rental income is c. £650 pcm (£7,800 pa), making this a potential yield play for investors prepared to accept management and refurbishment costs. The surrounding area is classified as very deprived with high crime levels, so mark-to-market rental demand and tenant suitability should be assessed.
Suitable for experienced investors or buyers comfortable with auction purchases and cash/quick-completion conditions. The building appears well-presented internally but requires due diligence on the lease, service charge, structural records and any required refurbishments prior to purchase.