Compact rental asset with immediate income and upside to market rent.
Long-term tenant in situ, producing £14,400 pa gross
A compact studio in a 1980s mid-rise block in Ryeland Close, offered with a long-term tenant in situ. The flat currently produces a gross annual income of £14,400 and could be relet at an estimated market income of £16,800, presenting clear buy-to-let upside for a hands-off investor. Broadband and mobile signal are strong, and the building and external grounds are described as well maintained.
Practical positives include no flood risk, available parking, and proximity to local amenities and several Good-rated schools. The apartment’s small footprint (approximately 334 sq ft) suits single-occupant tenants or investors targeting steady rental demand in a Private Renting New Arrivals neighbourhood.
Material considerations: the property is leasehold and a Buyers Premium will apply to secure purchase. The area is flagged as deprived and local crime levels are average, which may affect long-term capital growth. The flat is sold with a sitting tenant who does not intend to vacate, so vacant possession is not guaranteed. Buyers should review the Let Property Pack and the lease terms, and factor in any service charges, ground rent, and potential refurbishment costs.