Summary - 17 WATERSIDE LANE COLCHESTER CO2 8HW
4 bed 2 bath Flat
High-yield waterside duplex with parking and immediate rental income potential..
- Stunning uninterrupted lake views from lounge and balcony
- Large top-floor duplex: 2,175 sq ft, flexible 3/4 bedroom layout
- Secure underground parking included
- Currently achieving £24,000 pa; potential £26,000 as four-bed
- Long lease (134 years), chain free
- Service charge ~£1,858 pa; ground rent £249 pa
- Electric room heaters; EPC D (higher running costs)
- Local area records higher crime levels (may affect tenant mix)
A spacious top-floor duplex with uninterrupted lake views and secure underground parking, this chain-free flat is aimed squarely at investors or buyers seeking strong rental income. At 2,175 sq ft with flexible three/four-bedroom accommodation and a mezzanine reception, it offers generous living space and good natural light throughout.
Currently producing £24,000 per year with clear potential to reach about £26,000 if rented as a four-bedroom, the property represents a high gross yield for the price band (approx. 9.6% rising toward 10.4%). Practical advantages include a long lease (134 years), recent double glazing and on-site amenity access in a waterside development built 2003–2006.
Buyers should note material drawbacks: heating is by electric room heaters (no gas central heating), the EPC is D, and ongoing costs include a service charge (average £1,858 pa) plus ground rent (£249 pa). The wider area records higher crime levels, which may affect some tenants and rental desirability for certain demographics.
For investors this is a turn-key income opportunity with immediate cashflow and modest upside through reconfiguration to a four-bedroom layout. For owner-occupiers it offers roomy contemporary living, lakeside outlooks and underground parking, but expect higher energy costs and management fees associated with leasehold apartment living.
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