Long lease, immediate income—ideal for hands-on investors.
Let producing income at £4,440 per annum
This city-centre apartment is being sold at auction with no reserve, offering a clear opportunity for an investor seeking immediate rental income. The lot is currently let for £4,440 per annum, producing an existing income stream from day one. The lease is long (238 years remaining), reducing near-term lease-related costs.
Prospective buyers should note the material running costs: an annual service charge of around £4,400 (reported as £1,100 quarterly) and a small ground rent. The building faces urban-area challenges — very deprived neighbourhood indicators, high local crime levels and very slow broadband — which may affect tenant demand and yield. Mobile signal is excellent, however, and local amenities are close by.
This property will be sold under the auction conditions: a 5% deposit on the fall of the hammer, a buyer’s premium (5% + VAT, subject to a minimum), and unconditional exchange with completion usually required within 28 days. Check the legal pack for special conditions and additional costs before bidding.
The flat has simple, modern finishes but shows signs of wear in the kitchen (damaged worktop noted). It suits an investor comfortable with auction purchase mechanics and managing an urban let where rental growth and capital upside may depend on active management or refurbishment.
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