Summary - Flat 23, 2 Navigation Street LE1 3UJ
1 bed 1 bath Flat
Compact budget flat with strong rental potential close to university and transport links.
City-centre location with park and city views
Compact 334 sq ft one-bedroom apartment, small overall size
Long lease ~130 years remaining
Sold at online auction — 5% deposit and buyer’s premium applies
High average service charge £2,622 pa and ground rent £150 pa
Electric heating via room heaters; no communal gas
Located in multicultural student neighbourhood; high local crime rate
Council tax described as very cheap
This compact 1-bedroom flat on Navigation Street is a budget-friendly entry into Leicester city-centre property, offered at auction with immediate completion terms. The 334 sq ft apartment sits in the Horizon tower block (1996–2002) and benefits from double glazing (install date unknown) and uninterrupted city and park views from higher levels. Main heating is by electric room heaters and the property is mains-electric (no communal gas). Tenure is leasehold with c.130 years remaining.
The flat has clear rental and resale appeal for investors or buyers seeking a low-cost pied-à-terre close to shops, transport links and universities in a multicultural, student-dominated neighbourhood. Service charge and ground rent are notable: an average service charge of £2,622pa and ground rent of £150pa will affect running costs; council tax is described as very cheap. The property will be sold at online auction (3rd December 2025) with a 5% deposit and a buyer’s premium (5% + VAT, min £5,000 + VAT).
Buyers should note material negatives: the building is in a high-crime area relative to national benchmarks and the apartment is small with basic electric heating only. The flat may suit hands-on investors or buyers prepared for limited living space and typical high-rise maintenance considerations. Check the legal pack for any additional obligations or costs before bidding.
Overall, this is an appealing low-price, long-lease city-centre unit for investors seeking rental yield or an affordable central base — provided you factor service charges, auction costs and local area considerations into your purchase plan.
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