Summary - Ground Floor Flat, 23 Herbert Place PL2 1RU
2 bed 1 bath Flat
Cash-only auction buy-to-let with tenant in place and quick completion required.
Tenant in situ — immediate rental income potential
Sold via Modern Method of Auction — cash buyers only
Buyer reservation fee payable: 4.5% (min £6,600) plus pack costs
Compact ground-floor two-bedroom flat, c.593 sq ft
Long lease (~964 years) — low leasehold risk
Victorian building with high ceilings and private courtyard
Area very deprived with above-average crime — impacts value
Double glazing and gas central heating, possible wall insulation needed
This ground-floor two-bedroom flat offers immediate rental income with a tenant in situ, making it a straightforward buy-to-let for cash investors. Set in a Victorian mid-terrace in PL2, the property has period character, high ceilings and a private courtyard while double glazing and gas central heating reduce short-term maintenance needs.
Sale is by Modern Method of Auction: cash buyers only, subject to an undisclosed reserve and buyer fees. Bidders should allow for a non-refundable reservation fee (4.5% of purchase price, minimum £6,600) plus ancillary auction pack costs; completion is required within 56 days. Full due diligence is essential before bidding.
The flat is compact (approximately 593 sq ft) and suits investors targeting steady rental returns rather than family living. The long lease (about 964 years) is a positive. However, the local area is classified as very deprived with above-average crime — factors that may affect rents, tenant churn and resale values.
Physically the property appears well presented but offers scope for cosmetic improvement and rental uplift. Buyers should check services, insulation (walls likely uninsulated stone) and any outstanding repairs. This is a quick-turn investment with clear income potential, but auction costs and local market challenges must be factored into any purchase decision.
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