Let studio with immediate income — short lease requires extension or cash purchase..
- Ground-floor studio flat, approximately 313 sq ft
- Producing £1,436.02 pcm (£17,232.24 pa) rental income
- Leasehold with only c.42 years remaining
- Auction sale — cash or specialist finance likely required
- Electric room heaters; likely poor insulation, needs upgrading
- D EPC; built c.1930–1949, mid-century building
- High local crime and very deprived area — management risk
- Close to Clapton Overground and Hackney Downs stations
This ground-floor studio flat in Upper Clapton is offered for sale by public auction with a guide price of £95,000+. The flat totals about 313 sq ft and is currently let on an assured shorthold tenancy producing £1,436.02 pcm (£17,232.24 pa), presenting immediate rental income for a buyer prepared to purchase at auction.
Significant considerations: the lease has approximately 42 years unexpired. Mortgage lenders commonly refuse to lend on leases this short; any buyer should budget for the cost and legal process of a lease extension (a Section 42 claim) or plan to buy cash. The building dates from c.1930–1949, with solid brick walls assumed uninsulated and electric room heaters as the main heating source—modernisation and energy-efficiency works are likely required.
Practical positives include convenient transport links (Clapton Overground, Hackney Downs), nearby green space (North Millfields Recreation Ground) and a D-rated EPC. The area is described as inner-city cosmopolitan with young families and students; however it also has high recorded crime and high deprivation, which will affect desirability and management considerations. This lot suits a cash buyer or specialist investor able to manage lease-extension costs and refurbishment for long-term rental or resale.