Summary - Apartment 502, 3 North Bank, SHEFFIELD S3 8JT
2 bed 1 bath Apartment
Compact riverside apartment with parking and strong rental appeal for investors.
Vacant possession and no onward chain, ready to occupy or let
Two double bedrooms in a compact 556 sq ft layout
Allocated off-street parking included
Modern open-plan kitchen with integrated appliances
Expected EWS1 B1 on completion — remediation near final stage
Electric room heaters — potentially higher running costs
Medium flood risk; area classified as very deprived
Very high local crime score; affects insurance/lettability
This compact two-bedroom apartment in North Bank offers ready-to-let city living with vacant possession and no onward chain. At 556 sq ft the layout is efficient: modern open-plan living with integrated kitchen appliances, two double bedrooms and one bathroom — suited to young professionals or investors targeting the Kelham Island/City Centre rental market.
Practical benefits include an allocated off-street parking space and a long lease (circa 180 years). The building is in the final stages of remediation with an EWS1 form expected (B1), which should support mainstream mortgage options once issued. The advertised rental estimate of £850–£900 pcm reflects strong local demand and a straightforward landlord proposition.
Material considerations are stated plainly: the property is electrically heated via room heaters, which may raise running costs compared with gas heating. The area has a very high crime score and is classified as very deprived, and the site carries a medium flood risk — factors that may affect insurance, lettability to some tenant types, and resale marketing. Ground rent of about £250 per year applies.
For investors, this is a low-entry-price opportunity in a sought-after riverside location, but buyers should undertake usual checks: confirm final EWS1 documentation, review service charge and insurance details, obtain running cost estimates given electric heating, and consider local crime and flood mitigation when assessing tenant demand and yield.
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