Summary - 43 VICTORIA APARTMENTS, GUY STREET, PADIHAM BB12 8PX
1 bed 1 bath Apartment
Compact investment with parking and immediate rental income.
Sold with tenant in situ generating £600 pcm (£7,200 pa)
A ready-made buy-to-let in a converted stone mill, this second-floor one-bedroom apartment is offered with a tenant in situ paying £600 pcm (£7,200 pa). The flat extends to about 51.7 sq m (556 sq ft) with a generous double bedroom, fitted kitchen, L-shaped reception and a three-piece bathroom. Off-street parking in the communal courtyard is available as an optional extra.
Practical running costs are straightforward: electric storage heating (no gas), double glazing, an EPC rating of C, a service charge of £90 pcm (£1,080 pa) and a small ground rent of £50 pa. The lease has a long remaining term. These factors help keep ongoing maintenance and management simple for a landlord.
Material points to note: the building sits in an area with high crime rates and considerable local deprivation, which may affect tenant demand and insurance costs. Heating is electric only, which can mean higher energy bills for occupants compared with gas-heated homes. The property is sold leasehold and is offered with a sitting tenant, so vacant possession would require tenancy notice procedures.
Overall this is a compact, low-maintenance investment that delivers immediate rental income and a strong gross yield. It will suit investors seeking hands-off income from a town-centre flat in a period, converted building, aware of the local market challenges and reliant on electric heating.
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