Summary - Apartment 1 Furleys Wharf, Bridge Street DN21 1LP
2 bed 1 bath Flat
High-yield two-bed conversion with parking — strong rental income but high local crime.
Two bedrooms with spacious lounge/diner and family bathroom
This two-bedroom apartment in Furleys Wharf sits in a converted industrial block offering character features such as high ceilings and large windows. The flat comprises a spacious lounge/diner, compact modern kitchen, two bedrooms and a family bathroom, arranged across approximately 765 sq ft of mid-terrace accommodation.
For buy-to-let investors the property already produces rental income of £650pcm (£7,800pa), which equates to an approximate gross yield of about 11.1% at the asking price of £70,000. Practical advantages include off-street residents’ parking, double glazing, 103 years remaining on the lease and a relatively low ground rent of £50pa. Service charges average £1,683.65pa and council tax is band B (described as cheap).
Important negatives are straightforward: the local area is very deprived with very high crime rates, and the neighbourhood is described as a transitional Eastern European area with a constrained renter base. Heating is electric via room heaters, which can mean higher running costs for tenants. The property sits within an urban city/major town setting, and investor interest should factor in service charge, local demand profile and potential management costs.
Overall, Furleys Wharf offers a strong headline rental return and character appeal from the industrial conversion, but prospective buyers should weigh running costs, local area issues and ongoing service charges when assessing net returns and tenant suitability.
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