Summary - BROTHERHOOD HALL, 2 FLAT 1 WOODA ROAD LAUNCESTON PL15 8BJ
1 bed 1 bath Ground Flat
Ready-to-let investment near town centre with immediate rental income.
Completely refurbished one-bedroom ground-floor flat, ready to let
Confirmed rent £550pcm, gross yield advertised at 6.9%
Chain-free sale; modern kitchen, shower room and new carpets
Recent rewiring and new hot-water cylinder (2023)
Leasehold — conflicting lease info (91yrs vs 62yrs); check lender acceptability
Service charge approx £1,132pa; ground rent £100pa
Electric panel heating; stone walls likely uninsulated (higher running costs)
Local area deprived with above-average crime — affects tenant profile
A newly refurbished ground-floor one-bedroom flat, offered chain-free and presented for investor purchase. The interior has been fully modernised with a new kitchen, shower room, carpets and redecoration; recent electrical rewiring and a new hot-water cylinder were completed in 2023. At an asking price of £95,000 and a confirmed rent of £550pcm, the property is promoted with a projected gross yield of 6.9%.
The flat sits within a handsome Victorian stone terrace a short walk from Launceston town centre, benefitting from double-glazed arched windows, period character and practical built-in storage. Accommodation includes a generous sitting room with exposed stone fireplace recess, a compact modern kitchen and a double bedroom with en‑suite shower room. Electric panel heaters and new hot-water provision minimise immediate maintenance needs.
Important lease and finance notes: the listing contains conflicting lease-length figures (91 years and a separate note of 62 years remaining). Mortgage lenders commonly refuse to lend where a lease has around 60 years left; buyers should obtain formal confirmation of the exact remaining term and check lending eligibility before committing. The flat is sold leasehold; current ground rent is £100pa and service charge is approximately £1,132pa (circa £283 quarterly), which should be factored into net yield calculations.
Other practical points: heating is electric (panel heaters) and the stone walls are likely uninsulated, which may affect running costs. The local area is classed as deprived with above-average crime rates — factors that affect tenant demand and management considerations. For investors seeking a low-upfront, ready-to-let unit in a characterful property close to town amenities, this presents immediate rental income but requires due diligence on lease length and long‑term financing options.
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