Summary - MILL VALE LODGE 12 GUITHAVON STREET WITHAM CM8 1YH
1 bed 1 bath Retirement Property
**Standout Features:**
- One-bedroom retirement flat in Witham Town Centre
- Leasehold tenure with 61 years remaining
- Currently rented at £860/month, approximately 23% yield on the guide price
- On-site amenities: resident parking, communal launderette, kitchen, lounge, full-time House Manager
- Potential for re-letting at over £900/month based on market trends
- Average service charge (£368/month) and modest ground rent (£112/year)
**Notable Concerns:**
- High crime rate in the area
- Lease term may pose mortgage difficulties for future buyers
- Property sold via public auction, requiring interest from investors or sellers who can act quickly
Discover a unique investment opportunity with this one-bedroom retirement flat situated in the heart of Witham Town Centre. Ideal for both buy-to-let investors and potential owner-occupiers, this leasehold property not only offers a robust rental income but also the chance to enhance yield with a potential re-letting at a higher rate. With the added benefits of modern communal facilities and an on-site House Manager ensuring a secure living environment, residents can enjoy a comfortable lifestyle.
However, prospective buyers should note the current lease's 61 years remaining, which may limit financing options, and the surrounding area's elevated crime rate. With a public auction set for June 12, 2025, now is the time to act if you see the potential for this property—don’t miss out on the chance to make it your own or secure a lucrative rental investment!
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