Summary - Parsons Road, Washington NE37 1EZ
1 bed 1 bath Studio
Ready-made income with long lease security and strong employer demand.
Completed and tenanted — immediate rental income
Offered ~20% below local market value
999-year lease — long-term security
Premium finishes and integrated white goods
Cash purchase only — no mortgageable offer stated
Compact layout — c.481 sq ft studio (small to medium)
Broadband speeds slow — may affect remote-working tenants
Up to 11% net achievable with short-term lets (7% on AST)
A ready-built, income-producing studio offered c.20% below local market value, aimed squarely at investors seeking immediate returns. The apartment is completed, tenanted and generating income now — advertised net returns up to 7% on assured shorthold tenancy (AST) and up to 11% net with short-term lets. The 999-year lease provides long-term security for a buy-and-hold strategy.
Finished to a modern specification with premium flooring, integrated white goods and contemporary fittings, the flat is compact (circa 481 sq ft) and efficient. Its location near major employers such as Nissan, Amazon and Rolls-Royce supports consistent rental demand from workers and professionals. Broadband speeds in the area are slow and should be considered if letting to remote workers or streaming-heavy tenants.
Important practical points: the scheme is cash-purchase only and is advertised as part of a completed multi-unit block. The local socio-economic profile leans towards renting, which supports lettings but indicates a price-sensitive tenant pool. Crime is average; flood risk is low. This is a straightforward purchase for investors prioritising immediate yield and long leasehold security rather than a primary home or high-growth redevelopment project.
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