To be purchased separately or as part of a portfolio. Remaining properties listed below:

307 Spring Bank West
52 Park Road

Portfolio price: £450,000

Property Brief
Mid-terrace, freehold property consisting of two self-contained flats with communal front entrance. Flat 1 is situated on the ground floor, consisting of two bedrooms and exclusive access to a low-maintenance rear yard. Flat 2 is a two-bed situated on the first floor. 

Both units are gas central-heated with split utilities and no landlord meters. Tenants are responsible for all utility costs.

Condition Report 
The property appears to be in a good overall condition with no obvious, visible defects apparent.

Flat 1 - The kitchen is dated, whilst the bathroom is in fair condition. General decor and flooring are also dated.

Flat 2 - Fair condition throughout. Decor a little dated but perfectly fine.

General Information
Flat 1 (2-bed)
Size: 76 sq m
Current rent: £440 pcm
Market rent: £575 pcm
Tenancy start date: May 2021

Flat 2 (2-bed)
Size: 74 sq m
Current rent: £475 pcm
Market rent: £575 pcm
Tenancy start date: January 2012

Comparables

Number 301 (pictured left) was listed for £200,000 in 2023 and listed/sold again in 2025 with the most recent sold price unknown. 

Number 299 (pictured right) was listed for £200,000 and sold in 2024 for £205,000.

Both properties were homes in good condition, with 301 benefiting from a loft conversion.

Compliance
Apt 1
Electrical certificate (EICR): Test date March 2021
Gas certificate: Test date July 2025
EPC Rating: D (58), potential C (71)
Council Tax Band: A

Apt 2
Electrical certificate (EICR): Test date March 2021
Gas certificate: Test date July 2025
EPC Rating: C (75), potential C (79)
Council Tax Band: A

Figures
Estimated upfront costs below:

Deposit = £37,500
Stamp duty = £8,000
Ultralet's buyer fee = £2,700

Total = £48,200 (plus solicitor / mortgage arrangement fees)

Current yield of 7.3% (or 9.2% at market rents).

Buyer Disclaimer - https://bit.ly/3CzncNu