Tenanted studio achieving £625pcm (£7,500pa) income
Sold by public auction — cash or specialist finance likely required
Lease c.58 years remaining — many lenders will refuse mortgage finance
Approx 333 sq ft; small footprint, needs modernisation
Victorian character: high ceilings, period features, solid brick walls
Selective Licensing Scheme applies — additional landlord obligations
Area: very high crime and very deprived — let/management risk
EPC D; electric boiler heating, no confirmed insulation
A compact first-floor studio with an income-producing tenancy, offered for sale by public auction. The flat is currently let at £625pcm (£7,500pa) and will be sold with the tenant in situ — a straightforward purchase for a cash buyer or an investor able to buy at auction.
The building is a Victorian semi-detached property with high ceilings and period character, but the flat is small (approx 333 sq ft) and requires modernisation. Heating is electric with a boiler and radiators; walls are solid brick with assumed no insulation. The EPC rating is D.
Important practical considerations: the lease has around 58 years remaining which will make mortgage finance difficult or unavailable for many buyers. The property falls within a Selective Licensing Scheme and is in an area with very high crime and very high deprivation — these factors will affect tenant demand and management responsibilities.
This lot suits a specialist investor or cash buyer seeking immediate rental income and potential to refurbish. Bidders should inspect, check the Selective Licensing requirements, verify tenancy details, and obtain legal and survey advice before the auction.
