Summary - Flat 3 Balloon Court, 18, Cave Street, BRISTOL BS2 8AG
1 bed 1 bath Flat
Compact buy-to-let near Cabot Circus with immediate income potential.
Ground-floor 1 bed flat, compact c.389 sq ft
Let to professional tenants on AST, currently £650pcm
Scope to increase rent—see independent rental appraisal
Long lease: 999 years (from 01/01/2006)
Service charge c.£125 pcm; council tax very low
Sold at live online auction; buyer’s premium £1,800 inc VAT
Electric storage heating; all-electric supply (higher energy costs)
Area is very deprived with very high recorded crime rates
A compact ground-floor one-bedroom flat (c.389 sq ft) in a purpose-built block just moments from Cabot Circus. The property is let to professional tenants on an AST paying £650pcm, offering immediate rental income with independent appraisal indicating scope to increase rent. Long lease (999 years) reduces ownership friction for investors.
The flat is presented in good decorative order with an open-plan living/kitchen, double bedroom and bathroom. Recent block repairs, including roof and external works, have been completed under an NHBC-related scheme. Service charge runs at approximately £125 pcm and council tax is very low, helping to contain running costs.
Key commercial points: the sale is by live online auction with a buyer’s premium (£1,800 inc VAT) and an extended completion target of eight weeks. The property will be sold subject to the existing tenancy, so vacant possession is not guaranteed—buyers should review the AST in the legal pack before bidding.
Drawbacks to note plainly: the location is in a very high crime area and the neighbourhood is densely urban and very deprived, which may affect tenant profile and long-term capital growth. Heating is by electric storage heaters and the property is electrically powered, which can mean higher energy costs and possible tenant concerns. Auction buyers must allow for buyer’s premium and follow auction timelines and proof/finance requirements.
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