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

303 Spring Bank West
52 Park Road

Portfolio price: £450,000

Property Brief
End-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 gas and electric bills, whilst the landlord currently pays for the water bill.

Condition Report 
The property appears to be mostly in good condition however, there are some noticeable internal cracks to the external walls of the first-floor flat in the hallway and front bedroom.

Flat 1 - Good condition throughout.

Flat 2 - Dated throughout. Long-term tenant but would likely need a full refurb if the flat becomes vacant. Cracks in hallway and front bedroom as mentioned above.

General Information
Flat 1 (2-bed)
Size: 53 sq m
Current rent: £480 pcm
Market rent: £575 pcm
Tenancy start date: February 2017

Flat 2 (2-bed)
Size: 74 sq m
Current rent: £380 pcm
Market rent: £575 pcm
Tenancy start date: May 2010

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: E (49), potential C (72)
Council Tax Band: A

Apt 2
Electrical certificate (EICR): Test date March 2021
Gas certificate: Test date July 2025
EPC Rating: C (71), potential C (78)
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 6.9% (or 9.2% at market rents).

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