Summary - 40, LANCHESTER WAY B36 9JG
1 bed 1 bath Flat
Compact ground-floor unit with long lease and clear refurbishment potential.
- One double bedroom ground-floor flat requiring full renovation
- Cash buyers only — no mortgage offers accepted
- 103-year lease remaining (leasehold)
- Service charge £35 pcm (£420 annually)
- Off-street residents’ parking and communal grounds
- Small to average room sizes, suited to single/couple or investor
- Located in a very deprived/hampered neighbourhood — market caution advised
- Fast broadband; no flooding risk
This one-bedroom ground-floor flat in Smiths Wood is a clear renovation opportunity for cash buyers and buy-to-let investors. The layout includes a compact lounge, separate kitchen, double bedroom and bathroom, all fitted with dated fixtures and finishes that require a full refurbishment to reach modern rental or resale standards.
Practical positives include a long lease (103 years), low service charge of £35 per month (£420/year), off-street residents’ parking and communal grounds. Broadband speeds are reported as fast and there is no flooding risk, which supports lettability once renovated. The property is close to local shops, bus links and several primary and secondary schools, including an outstanding primary nearby.
Important drawbacks are clear and material: the flat needs full modernisation throughout, is offered to cash buyers only, and sits in an area classed as very deprived with hampered neighbourhood indicators. Room sizes are small to average, so the accommodation suits a single occupant, a couple or an investor targeting rental demand rather than a family needing extensive space.
Overall this is a value-add project for someone prepared to carry out renovation works and accept the local market challenges. With its long lease and low running costs, the property could offer rental income or resale uplift after sensible refurbishment, but it is not move-in ready and will require both time and budget to bring up to standard.
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