Summary - FURLEYS WHARF APARTMENT 5 BRIDGE STREET GAINSBOROUGH DN21 1LP
2 bed 1 bath Apartment
Investor-ready flat with tenant producing immediate rental income.
Two bedrooms with combined kitchen/dining/lounge
A two-bedroom freehold apartment in Furleys Wharf offering strong rental income potential in central Gainsborough. The property is sold with a tenant in situ at £570pcm, producing a gross annual income of £6,840 (about 11.4% gross yield at the asking price of £60,000). Service charge and ground rent are payable: £1,683.65pa and £245pa respectively, with 104 years remaining on the lease.
The building is a converted riverside warehouse with industrial character — exposed brick, large windows and high ceilings in parts — though the living room is smaller with a low ceiling and dated finishes that will need modernisation. The layout includes two bedrooms, a family bathroom and a combined kitchen/dining/lounge. Broadband and mobile signal are good, and the apartment is close to the town centre and train station, with many local amenities nearby.
Important considerations: the wider area has very high crime levels and is very deprived, and the local rental market is constrained. These factors may affect resale and tenant risk. The property is best suited to an investor seeking immediate rental return or a buyer prepared to refurbish to improve capital value and attract higher-quality tenants.
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