Affordable city-centre studio with long lease — auction sale, high service charges and short completion terms..
Compact 1-bedroom apartment, approx. 345 sq ft
Long lease: 189 years remaining
Sold at auction — 56-day reservation/completion period
High service charge: approx. £3,037 per year
Ground rent approx. £335 per year
Electric room heaters; no communal gas heating
EPC rating C; double glazing (install date unknown)
Area: city-centre location, very deprived wider area
This compact one-bedroom apartment (approx. 345 sq ft) sits in Provincial House, Bolton city centre, offered via auction with a long lease (189 years remaining) and EPC rating C. Large windows give good natural light; the layout is efficient for a single occupant or rental let. Building construction dates from the 1980s–90s and the glazing is double-glazed (install date unknown). Heating is by electric room heaters; the property is not on a communal gas system.
The building and central location suit investors or a first-time buyer seeking a low entry price and quick completion — the sale is by the Modern Method of Auction with a 56-day reservation/completion period. Buyers should factor in the auction Buyer Information Pack fee (£349 including VAT) and a non-refundable reservation fee of 4.5% of the purchase price (minimum £6,600), payable in addition to the purchase price.
Running costs include a high service charge (approx. £3,037 pa) and ground rent of £335 pa; council tax is very low. Broadband and mobile signal are reported as good, and the local area has a wide range of amenities and several well-rated schools nearby. The neighbourhood is classified as an urban cultural mix within a wider area of higher deprivation, and the apartment’s small size limits suitability for families.
This flat offers clear short-term income potential or a low-cost home base in the town centre but requires careful budgeting for service charges, heating costs and the auction fees before bidding. Viewings (or a thorough remote inspection) and lender checks are recommended prior to engaging in the auction process.