Summary - 6 City Bridge Apartments, 1, Glovers Court PR1 3LZ
2 bed 2 bath Apartment
Income-producing two-bed in central Preston — characterful, rentable and priced for yield..
Top-floor two-bedroom apartment with two private balconies
Allocated off-street parking included
Currently tenanted: £14,400pa; potential £16,200pa
Approx. 7.7% current gross yield; 8.7% potential gross yield
Leasehold c.120 years; service charge c.£1,200pa; ground rent £250pa
Electric room heaters only — higher running costs, no gas central heating
Located in a very high crime, very deprived city-centre ward
Victorian building with high ceilings and double glazing (post-2002)
This two-bedroom top-floor apartment in City Bridge Apartments sits in central Preston and offers immediate rental income and clear re-letting potential. The property is in a converted Victorian commercial building with high ceilings, two private balconies and an allocated off-street parking space — features that appeal to students, professionals and short-term city lets.
Financially it is income-producing now: current annual rent is £14,400 (approx. 7.7% gross yield at the asking price of £187,000) with potential to increase to about £16,200 (approx. 8.7% gross). Leasehold with c.120 years remaining, an annual service charge of around £1,200 and ground rent of £250 should be factored into net returns.
Buyers should note material negatives frankly: the property lies in a very high crime area within a very deprived ward, which can affect tenant profiles and insurance or management costs. Heating is by electric room heaters (no central gas), which raises running costs and may deter some longer-term tenants. EPC rating D and average broadband speeds are mid-market considerations.
Overall this unit suits investors seeking a city-centre, characterful apartment with strong rental demand from students and commuters. It also suits a purchaser prepared to manage income, running costs and neighbourhood challenges to achieve above-average yields.
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