Summary - COTTON MILL WORKS APARTMENT 2 THE ARCHES COLNE BB8 8FB
2 bed 1 bath Flat
Low-entry investment near Colne town centre with practical tenant appeal.
Allocated off-street parking space included
A compact, modern two-bedroom first-floor apartment offering straightforward buy-to-let potential in central Colne. The open-plan lounge and fitted kitchen, complete with integrated appliances and a Juliet balcony, deliver a low-maintenance living space attractive to tenants and easy to manage. Allocated off-street parking and gas central heating add practical rental appeal.
This is a leasehold apartment with a very long lease (981 years), making long-term ownership secure. The property will be sold by Modern Method of Auction with a starting bid of £35,000; buyers should note the non-refundable reservation fee (4.5% of the purchase price, minimum £6,600) and the requirement to complete within the auction timetable. A Buyer Information Pack is available and buyers must carry out their own due diligence.
Running costs and ownership obligations include an average service charge of £1,509 and an annual ground rent of £150. The local area is classified as very deprived with high crime levels — factors that will affect rental demand, yield and tenant profile. Broadband speeds are average and mobile signal is excellent.
Overall this apartment suits a landlord seeking a low-entry investment with modern fixtures and easy tenant appeal, provided they budget for the auction fees, service charge and manage lettings with the local area considerations in mind.
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