Summary - Flat 14, Time House, 3 Duke Street LE1 6WB
2 bed 1 bath Apartment
Turnkey rental with tenants and strong income near transport links.
Prime city centre location within walking distance to station and hospital
Two double bedrooms in a spacious 969 sq ft apartment
Tenants in situ producing £12,500 annual rental income
Long lease (104 years) with small ground rent of £150 per year
Converted Victorian character with arched windows and brick features
Electric room heaters only — higher heating costs likely
Living area needs tidying and light cosmetic updating
Situated in a very high crime area; consider insurance and security costs
This two-bedroom apartment sits in the heart of Leicester’s city centre, offering a turnkey investment with tenants in situ and a strong annual rental income of £12,500. Set within a converted Victorian building, the home combines urban character—arched brickwork and large windows—with contemporary open-plan living and practical modern fittings.
The flat is spacious for a city property (approximately 969 sq ft) and benefits from double glazing and a long lease (104 years remaining). Its location is a major asset: immediate access to shops, bars, Leicester Royal Infirmary, regular bus routes and the railway station make it highly lettable to students, professionals and short-commute tenants.
Buyers should note the material downsides plainly. The property uses electric room heaters rather than a communal gas system, which can be more expensive for occupants. The living area is compact and needs tidying and some cosmetic updating to maximise rental or resale value. The building sits in a very high crime area statistically, which may affect certain tenants’ preferences and insurance costs.
Financially this is clear value for investors wanting immediate rental cashflow and a long lease; first-time buyers and professionals will appreciate the central location but should factor in higher running costs and the need for minor refurbishment to personalise the space.
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