Summary - 1535 The Melting Point, Firth Street HD1 3DN
2 bed 1 bath Apartment
Large two-bed duplex with tenant in situ, concierge, gym and parking — strong rental appeal.
- Tenant in situ paying £950 pcm (income-producing)
- Long lease: 978 years remaining
- Concierge, on-site gym and lift to all floors
- Allocated off-street parking space
- Service charge £1,507.52pa and ground rent £150pa
- Located in high-crime, deprived area
- Electric room heating; higher running costs possible
- Slow broadband and property on a coalfield; public notice present
This spacious two-bedroom duplex (approx. 950 sq ft) occupies an upper floor within a contemporary development close to the university and town centre. The building offers concierge, on-site gym, lift access and an allocated parking space — practical features that support steady tenant demand from students and young professionals. A tenant is currently in situ, paying £950 pcm, making the property immediately income-producing.
The apartment benefits from a long lease (978 years), double glazing and a large open-plan living/kitchen with integrated appliances and French doors. Annual service charge (£1,507.52) and ground rent (£150) are modest relative to the building’s facilities. With a purchase price of £149,950 the current rent produces a strong gross yield for an investor looking for hands-off income.
Important drawbacks are plain: the property lies in a high-crime, deprived neighbourhood and broadband speeds are slow, which can affect some tenants’ expectations. Heating is electric (room heaters), so running costs may be higher than gas-heated properties. The site is on a coalfield and there is a recorded public notice/repossession, both of which should be checked by a buyer’s solicitor.
Overall, this is a practical buy-to-let in a student-dense area with immediate rental income and long lease security. It will suit investors prioritising yield and low immediate refurbishment needs, while those seeking premium capital growth or low-needs neighbourhoods should consider the location and heating costs carefully.
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