Summary - 28b Albion Street PE11 2AJ
1 bed 1 bath Apartment
Central rental with immediate income and riverside outdoor space.
Tenant in situ paying £675pcm — ready rental income
Large private balcony with direct River Welland views
One double bedroom; generous lounge and compact kitchen/diner
Kitchen dated (1970s) with worn surfaces and signs of damp
Leasehold with c.107 years remaining; ground rent £75
Service charge £750 (below average) and very low council tax
Very high local crime level — factor for tenants and insurance
Fast broadband and excellent mobile signal; very low flood risk
This first-floor one-bedroom apartment sits in the heart of Spalding with a large private balcony overlooking the River Welland. The layout includes a generous lounge, open-plan kitchen/diner and a modern bathroom with useful storage. The property is compact but well presented and benefits from double glazing and gas central heating.
Sold with a tenant in situ currently paying £675 pcm, the flat is aimed at buy-to-let investors seeking immediate rental income and a central riverside location. The lease has about 107 years remaining and running costs are modest: a below-average service charge (£750) and a small ground rent (£75).
There are clear improvement opportunities: the kitchen shows 1970s fixtures, worn surfaces and signs of damp and would benefit from modernization. The building’s solid-brick construction likely lacks cavity insulation, so consider energy and refurbishment costs when planning upgrades.
Practical local factors: broadband and mobile signals are strong, council tax is very low, and flood risk is very low. Note the area records a very high crime level locally—important for tenant profiles and insurance. Overall, this apartment offers straightforward rental potential and scope for value uplift with targeted refurbishment.
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