Summary - APARTMENT 105, PROSPERITY HOUSE, GOWER STREET DE1 1SB
2 bed 1 bath Flat
City‑centre two‑bed with tenant in situ — immediate rental income and a long lease..
Tenant in situ producing £9,000 pa immediate income
Central city‑centre location; walking distance to shops and bars
Two double bedrooms within 571 sq ft; compact living space
Long lease: 241 years remaining from 2016
High service charge: £4,690 per year (paid £2,345 semi‑annually)
Ground rent £250 per year
Electric room heaters; EPC rating D may increase running costs
Local area: very deprived with very high crime levels
This two‑bedroom apartment in Prosperity House offers an immediate income stream with a tenant in situ generating £9,000 per year, making it an attractive buy-to-let or portfolio addition. The flat is compact at 571 sq ft but arranged as an open-plan lounge/kitchen, two double bedrooms and a family bathroom — practical accommodation for students or city professionals.
Located in the heart of Derby city centre, the property is a short walk from shops, bars, restaurants and public transport. The building has secure intercom access and double glazing throughout; broadband and mobile signal are strong. The long lease (241 years remaining) provides tenure security for investors.
Buyers should note material drawbacks: the service charge is high at £4,690 per year and there is an annual ground rent of £250. Heating is electric room heaters and the EPC is D, which may lead to higher running costs compared with gas-heated homes. The local area is classified as very deprived and crime levels are very high, factors that can affect tenant demand and rental growth.
Overall this is a pragmatic investment: immediate rental income and central location balanced against above-average service charges, electric heating and challenging local-area indicators. Suited to investors or landlords seeking city-centre, tenant-in-situ opportunities rather than owner-occupiers seeking quiet residential streets.
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