Summary - UNIT G0 6, 19, WRIGHT STREET L5 8SB
1 bed 1 bath Apartment
Vacant auction lot with long lease and immediate completion window.
Vacant one-bedroom apartment with long lease (237 years)
Sold at online auction — 5% deposit and buyer’s premium apply
Very high average service charge (£3,800) and small ground rent (£150)
Area records high crime and very high deprivation levels
Broadband speeds are very slow; mobile signal is excellent
No garden or garage; modern block with standard ceiling heights
Sold as seen — check legal pack for special conditions and costs
Requires cash or mortgage pre-approval for 28-day completion
This vacant one-bedroom apartment is offered at online auction with a very long lease (237 years remaining), making it straightforward to own without immediate lease renewal costs. The building is a modern three-storey brick block in a densely populated inner-city location. The property is sold at auction with a 5% deposit and a buyer’s premium; legal pack and special conditions must be checked before bidding.
Practical positives include vacant possession on completion, an excellent mobile signal, and a long lease that supports long-term ownership or letting. However, note the very high average service charge (£3,800) and a small annual ground rent (£150). Broadband speeds in the area are reported as very slow and the neighbourhood records high crime and significant deprivation, which will affect desirability and lettings.
The lot is best suited to a cash buyer or a specialist investor used to auction purchases who has reviewed the legal pack and factored the buyer’s premium, fast completion window (28 days), and potential additional costs. This is a clear-as-is purchase: it offers long-lease security and vacancy for quick handover, but comes with elevated holding costs and local market challenges.
Inspect the legal pack for special conditions, fees payable on completion, and any constraints. Buyers should budget for marketing if letting, potential minor repairs, and the possibility of limited rental demand given local crime and deprivation indicators.
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