Summary - FLAT GROUND 2, 7, MAIN STREET KA16 9HB
1 bed 1 bath Flat
Affordable auction opportunity for experienced investors seeking high-yield refurbishment..
Guide price £25,000, sold at auction
A one-bedroom ground-floor flat in a Victorian stone building on Newmilns Main Street, offered for auction with a guide price of £25,000. The property is currently tenanted at £400 pcm and could achieve an estimated rent of £450–£475 pcm once reworked, giving a projected gross yield of about 19–23% at guide price. Freehold tenure, no flood risk, and strong mobile signal are practical positives for lettability.
The flat requires full renovation before habitation: damaged walls, exposed plaster, flooring issues and some structural concerns are noted. Electrical and finishing work is unfinished and the property will need a full programme of works. These defects reduce immediate owner-occupier use but present a clear refurbishment opportunity for investors able to manage repairs and costings.
This lot will be sold at auction and is currently tenanted, so purchasers should allow for a tenant in situ and the auction process. Local comparable sales at low values indicate potential capital upside in the longer term, but the property sits within a very deprived local area, which affects long-term capital risk and tenant demand profiles. Suitable for investors seeking a high-yield refurbishment project prepared to accept area-related risk.
1 bedroom flat for sale in 7 Flat 2/1 Main Street, Newmilns, KA16 9HB, KA16 — £15,000 • 1 bed • 1 bath
1 bedroom flat for sale in 3 Nelson Street, Flat 1-1, Newmilns, KA16 9AP, KA16 — £26,000 • 1 bed • 1 bath
1 bedroom flat for sale in King Street, Newmilns, East Ayrshire, KA16 9DW, KA16 — £24,500 • 1 bed • 1 bath
1 bedroom flat for sale in 52a, Loudoun Road, Newmilns, Ayrshire, KA169HF, KA16 — £30,000 • 1 bed • 1 bath
1 bedroom flat for sale in 24B Nelson Street, Newmilns, KA16 9AP, KA16 — £22,000 • 1 bed • 1 bath
1 bedroom flat for sale in 52 Loudoun Road, Ground Floor Flat, Newmilns, East Ayrshire, KA16 9HF, KA16 — £26,500 • 1 bed • 1 bath
