Summary - 2122 Wolseley Road, Devon PL5 1JL
1 bed 1 bath Apartment
Cash-ready one-bedroom project with garden and parking — short lease, auction sale.
Chain free ground-floor one-bedroom apartment with private rear garden
A ground-floor one-bedroom apartment in a Victorian terrace offered as a cash-ready project. The flat includes a private rear garden and off-street parking, and is chain free — attractive for buyers able to move quickly. The layout and period features give clear potential for a refreshed rental or resale once renovated.
Important practical points: the lease has approximately 59 years remaining. That short lease is likely to prevent most mortgage lending, so this lot suits cash buyers or investors prepared to negotiate lease extension costs. The property is sold at online auction with a 5% non-refundable deposit on exchange and a reservation fee of up to 6% (minimum £6,000 inc VAT) payable on agreement of sale — factor these costs into your budget.
The apartment needs renovation throughout (decor, possible fabric and services updating). Heating is mains gas via boiler and radiators; glazing is double but install date is unknown; walls are solid brick and likely uninsulated. The surrounding area shows higher-than-average crime and high deprivation indicators — these affect lettability, resale profile and expected rental yields.
For the right buyer this is a low-entry investment: short lease and refurbishment requirement lower the purchase price and create scope to add value. However, buyers should obtain the legal pack, confirm leasehold implications and lender acceptability, and allow for renovation, auction purchase fees and potential costs to extend the lease before bidding.
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