Property Brief
Second floor, two-bedroom apartment with Slipway views on Victoria Dock. The apartment comprises a living room, kitchen, bathroom and two well-proportioned bedrooms. The property benefits from an allocated off-street parking space.

Condition Report
A well-maintained building overall, neutrally decorated throughout in reasonable condition. The kitchen is in fair condition and the bathroom is dated but functional. General decor and flooring is good throughout.

Rental Information
Current rent: £725 pcm
Tenancy agreement: Assured Shorthold Tenancy
Tenancy start date: January 2019
Tenant info: Working couple. No arrears history

Leasehold Details
Lease term: TBC
Service charge: £138.67 pcm
Ground rent annually: Peppercorn rent

Comparables
Rightmove shows that in the last 12 months, 2-bed apartments on Victoria Dock have been listed/selling for between £120,000 and £130,000. Each of the 4 properties 

Compliance
Electrical certificate (EICR): Test date October 2021
Gas safety certificate: Test date November 2024
EPC rating: C (77)  (potential C, 77)
Council Tax Band: B

Figures
Estimated upfront costs below:

Deposit = £25,000
Stamp duty = £5,000
Broker fee (Est.) = £495
Solicitor fee (Est.) = £1,200
Ultralets' buyer fee = £1,800

Total = £33,495

Current yield is 8.7% (or 7% when factoring in monthly lease costs).

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

To speak to our in-house Mortgage Advisor, call the office on 01482 562562 and ask to speak to Jack Newton.