Summary - FLAT 23, THE GRANGE, 506, OLD CHESTER ROAD CH42 4PE
2 bed 1 bath Apartment
Tenant in place for immediate rental income and long lease security.
2 bedroom apartment with EPC B and gas central heating
Currently let at £400 pcm — immediate rental income
Approximate gross yield about 8% at £60,000 asking price
Long lease (999 years from 2006) and low ground rent £200 pa
Service charge £1,080 pa — regular communal maintenance cost
Communal unallocated parking and shared garden only
Located in a very deprived outer-city area — higher tenant turnover risk
Average local crime and challenged neighbourhood socioeconomic indicators
This modern two-bedroom apartment in The Grange is presented as a straightforward rental investment with a strong current gross yield. It is let at £400 pcm, producing an approximate 8.0% gross yield on the £60,000 asking price, and sits in a purpose-built block with gas central heating, double glazing and an EPC B rating.
The lease is long and secure (999 years from 2006) with a low ground rent of £200 per annum, but investors should budget for annual service charges of £1,080. Communal unallocated parking and shared garden space keep external maintenance low, though communal upkeep is covered via the service charge.
Location carries mixed signals: the property is in a very deprived, outer-city area with average local crime statistics and limited socioeconomic indicators, which can affect tenant profiles, rental growth and void risk. Comparable properties in the area have been quoted nearer £85,000, indicating potential capital upside if market conditions improve.
Sale includes a tenant in situ, providing immediate rental income but reducing vacant possession flexibility. Buyers should factor in management costs, potential reletting periods, and local market volatility when assessing net returns.
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