Summary - Chatham Waters, South House, Gillingham Gate Road, Gillingham, ME4 ME4 4RS
2 bed 2 bath Flat
Ready-made rental with long lease and striking harbor outlook.
Tenant in situ paying £1,500 pcm for immediate rental income
Open-plan living with large windows and balcony waterfront views
Long lease remaining — approximately 245 years left
EPC Grade C; energy performance acceptable
Service charge £2,906.74 per year (2025 figure)
Ground rent £511.90 p.a.; RPI-linked reviews next 2027
Electric room heaters only — higher running costs likely
Local area: student neighbourhood with higher crime and deprivation
This two-bedroom apartment in Chatham Waters offers immediate rental income with a tenant in situ paying £1,500 pcm, making it a straightforward buy-to-let for investors seeking cash flow from day one. The open-plan living space, large windows and balcony deliver bright, contemporary accommodation with pleasant waterfront views and a practical 818 sq ft layout.
Financially, the property is let-ready and benefits from a long lease (about 245 years remaining) and an EPC grade C. Annual ownership costs include a service charge of £2,906.74 and a ground rent of £511.90; the ground rent is RPI-linked with reviews, so budget for future increases. Council Tax sits at Band D.
Practical considerations: heating is electric via room heaters rather than a central gas system, which may affect running costs and tenant appeal in colder months. The wider area is a multicultural, student-heavy neighbourhood with higher-than-average crime and local deprivation indicators—factors that can influence tenant mix, management needs and long-term capital growth.
Overall, this apartment suits hands-off investors wanting immediate rental returns in a modern riverside development. It offers clear positives — tenant in place, long lease, attractive waterfront setting — alongside manageable downsides such as service charges, ground rent reviews and electric heating that should inform your running-cost assumptions.
2 bedroom flat for sale in Chatham Waters, North House, Gillingham Gate Road, Gillingham, ME4 — £210,000 • 2 bed • 2 bath • 818 ft²
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